Would you like to receive notifications on latest updates of the following headlines?

24 Million Nigerians To Fall Into Poverty As A Result Of Naira And Fuel Shortages

POSTED ON March 17, 2023 •   Nigeria      BY Akinbohun Samuel

According to a survey conducted by Cadre Harmonise, also known as CH, 24 million Nigerians, including 14,000 internally displaced people (IDPs) in 26 states and the federal capital territory, would experience poverty and economic crisis as a result of the ongoing Naira crisis and fuel shortage.

This was stated by CH in its most recent March report on Thursday in Abuja.

The report claims that during the review period, many people's well-being in Nigeria have been severely impacted by the associated increase in the pump price of Premium Motor Spirit and the lack of naira.

The report advised the federal government and local governments to exercise care in light of an impending catastrophe of food insecurity and poverty.

"The protracted shortage of Petroleum Motor Spirit, also known as gasoline, and the ensuing increase in the price of the product at the pump across the states, caused enormous increases in transportation costs and the price of food items in Nigerian marketplaces.

One of the causes of food insecurity is the steadily rising cost of agricultural inputs and food products on Nigerian markets. According to the data, the general consumer price index increased by 39.49 percentage points from February 2022 to February 2023, from 15.7% to 21.9 percent.

0
READ ALSO
Dengue Fever Outbreak, 86 Cases Confirmed
BY Abiodun Saheed Omodara July 4, 2025 0

EDO, Nigeria - The Ministry of Health in Edo State reported on Friday that there is an outbreak of d...

READ ALSO
Federal High Court Orders Reinstatement of  Natasha Akpoti-Uduaghan, Calls Suspension "Excessive"
BY Abiodun Saheed Omodara July 4, 2025 0

A Federal High Court in Abuja ruled on Friday that the Nigerian Senate exceeded its authority by sus...

READ ALSO
UK Govt. Bans Caregiver Jobs Major Changes for Nigerian Applicants
BY Abiodun Saheed Omodara July 3, 2025 0

Nigerians looking to move to the United Kingdom (UK) for better opportunities through caregiver job...

READ ALSO
Nigeria Aims to Eliminate Routine Flaring by 2030 and Cut Methane Emissions by 60% by 2031
BY Abiodun Saheed Omodara July 3, 2025 0

The Nigerian Upstream Petroleum Regulatory Commission has announced that its gas-focused transition...

READ ALSO
2027 Election: Aisha Yesufu Urges ADC to Prioritize Youth,Women in Leadership
BY Abiodun Saheed Omodara July 3, 2025 0

Socio-political activist Aisha Yesufu has expressed concerns regarding the makeup of the recently fo...

READ ALSO
NNPCL Revamps Financial Discipline, Collaborate with Independent Producers
BY Abiodun Saheed Omodara July 3, 2025 0

The CEO of Seplat Energy Plc, Roger Brown, stated that the Nigerian National Petroleum Company Limit...

READ ALSO
Nigeria Unveils 37 New Crude Oil Evacuation Routes to Combat Theft and Boost Production
BY Abiodun Saheed Omodara July 3, 2025 0

The Federal Government has sanctioned 37 new crude oil evacuation routes nationwide as part of refor...

READ ALSO
NCC, REA Forge Partnership to Enhance Rural Connectivity and Energy Solutions
BY Abiodun Saheed Omodara July 3, 2025 0

The Nigerian Communications Commission (NCC) and the Rural Electrification Agency (REA) have officia...

OUR CHANNELS:

Nigeria's Civil Service Faces Redundancy Due to Obsolete Skills
BY Abiodun Saheed Omodara July 5, 2025 0

The Federal Civil Service Commission has stated that the primary issue plaguing the civil service is...


2027 Election: Aisha Yesufu Urges ADC to Prioritize Youth,Women in Leadership
BY Abiodun Saheed Omodara July 5, 2025 0

Socio-political activist Aisha Yesufu has expressed concerns regarding the makeup of the recently fo...


NNPCL Revamps Financial Discipline, Collaborate with Independent Producers
BY Abiodun Saheed Omodara July 5, 2025 0

The CEO of Seplat Energy Plc, Roger Brown, stated that the Nigerian National Petroleum Company Limit...


Nigeria Unveils 37 New Crude Oil Evacuation Routes to Combat Theft and Boost Production
BY Abiodun Saheed Omodara July 5, 2025 0

The Federal Government has sanctioned 37 new crude oil evacuation routes nationwide as part of refor...


NCC, REA Forge Partnership to Enhance Rural Connectivity and Energy Solutions
BY Abiodun Saheed Omodara July 4, 2025 0

The Nigerian Communications Commission (NCC) and the Rural Electrification Agency (REA) have officia...


We Rendered Oil Smuggling Unattractive, A New Era for Nigeria's Economy - Tinubu
BY Abiodun Saheed Omodara July 5, 2025 0

President Bola Tinubu has proclaimed that his administration has salvaged Nigeria’s economy fr...


Microsoft Cuts 4% of Workforce Amid AI Investment Strategy
BY Abiodun Saheed Omodara July 5, 2025 0

Microsoft is set to lay off nearly 4% of its workforce, impacting around 9,000 employees across diff...


Amaechi Exits APC, Calls for Urgent Restructuring of Nigeria
BY Abiodun Saheed Omodara July 5, 2025 0

A former Minister of Transportation,Rotimi Amaechi,has left the All Progressives Congress (APC).&nbs...


K-pop's Global Influence Inspires Afrobeat Collaboration
BY Abiodun Saheed Omodara July 5, 2025 0

The Korean Cultural Centre in Nigeria is keen on promoting collaboration between Nigeria’s Afr...


Lagos Assembly Summons AG over Controversial Local Government Law Commencement
BY Abiodun Saheed Omodara July 5, 2025 0

The Lagos State House of Assembly has called upon the State’s Attorney General, Lawal Pedro (S...


More Articles

Load more...

Menu