dre11: Shareholders ask Dangote to reciprocate naira-for-crude by listing refinery in NGX
Following the recommencement of the naira-for-crude initiative of the federal government for Dangote Refinery, shareholders have called on the management of the refinery to reciprocate the government’s gesture by listing on the Nigerian Exchange (NGX).
The shareholders commended President Bola Ahmed Tinubu and the Federal Executive Council (FEC) for the continuation and institution of the naira-for crude policy as a national policy.
Daily Trust reports that the federal government last week reinstated the naira-for-crude policy after the expiration of the initial six-month trial phase.
Under the policy, the Nigerian National Petroleum Company Limited (NNPCL) will sell crude oil to local refineries in naira, using Dangote Petroleum Refinery as the pilot, while the refineries are to sell their products to the domestic market in the same national currency.
However, shareholders under the aegis of the Association for the Advancement of Rights of Nigerian Shareholders (AARNS) said the continuation of the naira-for crude policy was a further indication that the Tinubu-led reforms were grounded in national priorities and development.
AARNS President, Dr Faruk Umar, said steps taken so far by the government have shown that the economic reforms were well thought out, sustainable and inclusive.
He said the continuation of naira-for-crude would not only ensure stability in the retail motor spirit or petrol market, but also provide Nigerians with the opportunity to develop its local refining market.
He called on Dangote Group, the main and immediate beneficiary of the policy, to reciprocate the government’s gesture by listing its Dangote Petroleum Refinery on the stock exchange.
Our correspondent reports that the NGX Group Chairman, Alhaji Dr Umaru Kwairanga, recently hinted that Dangote Refinery would be listed on the Nigerian bourse by the end of 2025.
The AARNS also said such listing, like other of Dangote Group, will open up the benefits from the petroleum refinery value-chain to the generality of Nigerians, creating a sense of inclusiveness and common purpose.
It explained that Dangote Refinery may explore various options of listing, including listing by introduction, offer for sale, and initial public offering (IPO), among others, citing the listing of major oil and gas companies such as Seplat Energy and Aradel Plc.
“Alhaji Aliko Dangote should reciprocate this ive government policy. Dangote is no doubt a friend of the investors. We shareholders appreciate him. We call on him to list the Dangote Refinery on the stock exchange, too. This is the time to do it, and we are sure that Dangote Cement, Dangote Sugar Refinery and NASCON, Dangote Petroleum Refinery will also be a huge success in the stock market.
🇷🇺 Russia’s ruble has surged to become the best performing global currency, posting this year’s strongest gains against the dollar to outpace even the traditional safe haven of gold.
The ruble has strengthened 38% versus the dollar on the over-the-counter market since the beginning of this year, data compiled by Bloomberg shows.
While the US greenback has reeled from mounting pressure caused by US President Donald Trump’s escalating tariff wars, Russia’s currency has also been buoyed by factors unique to the country, including record-high local interest rates.
“Unlike many emerging-market currencies, the ruble is not facing pressure from capital outflow, caused by global investors’ retreat from riskier assets,” said Sofya Donets, an economist at T-Investments. “Capital controls have largely shielded Russia from this” while high borrowing costs the currency, she said.
Domestic factors have amplified the ruble’s gains against the weakening greenback, even as sweeping sanctions imposed by the US and its allies over the February 2022 invasion of Ukraine remain in place. While a strengthening currency may be welcome news for inflation hawks, it risks damping energy revenue when the state is spending massively on military needs and social programs.
Foreign investors, undeterred by lingering sanctions risks, are turning to countries that remain on good with Russia to gain exposure to high-yielding ruble assets, said Iskander Lutsko, the Dubai-based head of research and portfolio management at Istar Capital.
On the top of that, Russian companies are eager to refinance prohibitively expensive local-currency debt, using much cheaper yuan-denomination, which is driving additional conversions of foreign currency into rubles, Lutsko said.
The prestigious Westbury Homes Bogije has been set to cater for families, individuals and investors by providing a community in Lagos with distinguished facilities, standard infrastructures and so much more.
Westbury Homes located inside Beechwood estate bogije ibeju lekki Lagos. This location is set to enjoy significant growth over the next 5 years upon completion of a number of key infrastructure projects including the new Lekki-Epe Expressway Expansion, the Free Trade Zone, the new Lagos International Airport and the deep seaport.
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I'm throwing this question to you because it's very important. Every time I ask, "how is Nairaland?" I'm told that it is fine. If I ask what are the challenges I'm told there are none.
So I need to talk to you guys directly about what you think is going on and what you want us to do. I have not had the confidence to make major changes on Nairaland. I have a little confidence now because of AI.
What are your complaints, your challenges, your issues. What are the things that can drive people away and need to be nipped?
Speak your mind, but don't be rude. Thanks.
@Seun
First off, newly created Nairaland moniker names MUST be properly screened individually by an exclusive before allowing them to use this web site 3 days later. A lot of fake monikers were created or coined using abusing words against other ethnic groups and even one moniker was created by an ethnic bigot to insult you. Just as an example, monikers coined such as @Seunisafool OR @Yaribastards (which means Yoruba bas@tards is used to taunt and insult Yoruba folks as bas@tards by known well-known ethnic bigots and trolls who have strong links to Ipob who have already created many fake NL monikers for trolling and posting hate speech) on this Nairaland website MUST NEVER be allowed on this Website again.
Second, you have to play a day-to-day interest in this Website because all is NOT well with the invasion of paid trolls since early 2014 who want to destabilize Nairaland.
Number 1 rule of betting on what you don't control is "never risk more than what you can afford to lose".
People just don't learn,I know quite a lot of people who sold property, borrow from bank, loan app, money entrusted with them just to invest in Cbex. Omo in the days, suicide rate go high o.
Succinctly stated.
The bolded part is the inherent "greed" in humans we are talking about. It's totally irresponsible to sell your property, borrow money from banks and loan apps, and WORSE of all, money entrusted with them to invest in these sorts of things. We know how past investment schemes have turned out negatively over the last 25 years online and offline. These folks ONLY have themselves to blame. How much property can these people seen in the video above even loot from that CBEX office in Ibadan that will bring back their money?
Better to learn how to trade and invest on your own after proper training from credible sources with evidence of testimonials from those successfully trained, than to give your hard-earned money to a third party to trade or invest on your behalf. Enough said.
yarimo:
1- Some of your mods are banning without telling you the rules broken or just because you spoke against their opinion
2- Some mods are good at pushing false news to front page just because they don't like certain politicians, even after pressing rules 8 the news will not be taking down
3- some monikers don't have anything to do here , rather than trolling and calling a nairalander with different names and your mods are not doing anything about it
Your number 2 point is very accurate. Some of the mods openly allow their ethnic kinsmen to insult others and use toxic hate speech right under the thread posts the created and they see these posts and refuse to ban them for the clear hate speech.
It's all part of things we learn in retrospect. I should have initiated withdrawal but it was all a game. Those who organize that scheme were not just fraudster but also fxckn human psychologist. Just as they were about to packing, they were giving insane bonuses, they knew a lot of people would try to initiate withdrawal.So they also stop all withdrawal with reason that the bonuses given were meant to be traded to meet the required trading volume before withdrawal can be made. If it was possible, everyone would have withdrawn their bonuses and leave their asset to keep growing.
It's always important to ONLY invest what you can afford to lose in these kinds of new investments schemes. Greed and lack of due diligence on the part of investors worldwide can be VERY destructive.
Brother people cash out on cbex o. No be small cash out sef. I know someone who got himself a fleet of cars.i know some who use money gotten from Cbex to complete their building project. i know someone who got iPhone 16 from giveaway conducted on the telegram group. Most of these people were actually the early birds.
Viral videos circulating on social media captured the moment enraged youths vandalized the office and carted away valuables in protest.
The chaos erupted after many investors claimed they could no longer access or withdraw their money from the platform, leaving them financially stranded.
According to several affected s, CBEX abruptly shut down its operations without issuing any prior notice, sparking confusion and panic among those who had invested their savings on the platform.
Eyewitnesses described the incident as alarming, saying onlookers were stunned as people forced their way into the building, destroying furniture and equipment in a fit of anger and desperation.
So far, the management of CBEX has not issued any official statement regarding the alleged shutdown or the incident at their office.
Itaekuson3:
HAUSA WOMAN EXPOSES REAL TRIBE BEHIND FARM ATTACKS & VILLAGE INVASIONS IN NIGERIA—IT’S NOT ALL FULANIS
In this video, a bold Hausa woman is speaking out and clearing the air on who’s really behind the attacks on Nigerian farms and villages.
This video is not just another talk. It's a direct response to the confusion many people have—who are the Fulani, who are the Hausa, and who exactly is causing all this pain in the rural areas?
Now listen carefully, because what you're about to hear may change the way you see things.
She says clearly—Hausa and Fulani are not the same people. They are two different ethnic groups. While the Hausas mostly stay in one place, the Fulanis are known to move from state to state. That’s how some of them have lived in different places for six or more generations.
In fact, in many northern states—like Borno, Adamawa, Plateau—you won’t really find native Hausa people. But Fulani people? You’ll find them everywhere.
And here’s the big part—she says that the people causing chaos in the bushes, the ones killing farmers, attacking villages, and kidnapping people, are not the Hausa people. They are the bad Fulani herders.
Yes, not all Fulanis are bad—she made that clear too. There are peaceful ones, even good friends of hers. But the ones we see in the bush with guns, committing crime, attacking farmers—those are Fulani, not Hausa. And we must stop mixing up both groups.
She also pointed out that many of these bush-dwelling Fulanis look different—they have slimmer faces, light skin, curly hair. And over the years, with intermarriage, many people can't tell the difference anymore.
Now here’s a question she raised—why is the government silent? Why is the ban on open grazing not enforced? Why is nothing being done to stop these attacks?
She says, if you want to raise cattle, go and build a ranch—simple. The open grazing problem is making innocent farmers suffer across Nigeria.
Guys, this is not just a Hausa woman talking—it’s a Nigerian citizen saying enough is enough. Her words speak the minds of many who are scared or tired of being misunderstood.
Guys, I’ll let you watch this video for yourself so you can see exactly what I’m talking about. Also don't forget to like, share and subscribe to this channel if you haven't already done so.
Take a look guys, and to share your thoughts after watching.
WATCH NOW
"You Fulanis, you do not know your history, you are NOT Nigerians, you are descendants of Umayyad conquerors (of Spain), you are the Moors (Berbers of North Africa)." ~ Comments in the video by a Fula man living in the United States
Glimpsetv:
Nigerian Baker Shows Off Custom Refinery Cake Made for Dangote’s Birthday
A talented Nigerian baker has captured the attention of many online after showcasing an enormous refinery-shaped cake she created to mark Aliko Dangote’s 68th birthday. The impressive creation earned widespread praise, with many applauding her remarkable skill and artistic vision.
Africa’s wealthiest man and renowned industrialist, Aliko Dangote, celebrated his 68th birthday on April 10, 2025, receiving a flood of warm wishes and tributes from well-wishers across the country and beyond.
Among those who sent heartfelt messages was President Bola Tinubu, who commended Dangote for his lasting impact on Nigeria’s economy. In a statement released by his Special Adviser on Information and Strategy, Bayo Onanuga, the President hailed Dangote as “Africa’s industrial icon”, applauding his consistent dedication to enterprise, innovation, and nation-building.
The birthday celebration drew an array of notable figures, including billionaire businessman Femi Otedola. Taking to Instagram, Otedola shared a photo of Dangote alongside the caption: “Happy birthday Africa’s wealthiest entrepreneur! Your journey is inspiring.”
The occasion also saw the presence of boxing heavyweight champion Anthony Joshua, adding a touch of celebrity glamour and camaraderie to the evening.
As part of the festivities, several leading banks — GT Bank, Access Bank, and FCMB — presented uniquely designed birthday cakes, each reflecting different milestones in Dangote’s illustrious career. One cake took the form of a towering refinery, another resembled an elegant mosque, while a third was crafted in the shape of a cement factory.
Watch the video and feel free to drop your thoughts in the comment section!
Lots of icing sugar and extra creativity were used to make the refinery-shaped cake here. I can clearly see that Anthony Joshua (AJ) is indeed gearing up for a post-boxing life in business and investments with his many networking sessions over the past months with business leaders and his Ogun State roots in Sagamu.
Congratulations again to Aliko Dangote on his 68th birthday which fell on April 10, 2025.
I had been trying to figure out what this whole strife was all about. Just this morning, I got this answer. Then I realized that it is not really about sharing allocation and positions. It is an ethnic supremacy battle.
As it stands I cannot blame Wike and his people for thinking this way. No landlord wants to become a tenant in his own house. Fubara will be the last ethnic minority to rule Rivers state. He blew a golden chance away too early. Wike did put his reputation and political goodwill on the line to hand power to Fubara against the advice of his kinsmen.
What Wike is doing now is redemption of image, recovery of political goodwill and electoral restitution. Tinubu understands this as well. That's why Ibas is dismantling everything Fubara put in place. It's a simple assignment. He is paving the way for his inevitable removal.
mastermaestro:
Fubara is going home, eventually. Nothing will stop his impeachment once the emergency rule is suspended. Fubara comes from an ethnic minority group in Rivers. This alone emboldens Wike and his gang to push their luck to the end.
If Fubara was from Wike's ethnic group, Wike would have since lost or compromised for peace to reign. This is an ethnic superiority contest, just so you know. If Fubara is allowed to prevail, to Wike and his kinsmen, it will set a precedent that threatens Ikwerre's political dominance in Rivers state.
So you accept it was because of political issue which the Constitution provided how to solve such and not security issue?
If fubara is impeached he goes home thats what our law says
When state of emergency is declared in Lagos in the future hope you Yorubas would take it ooh?
A State of Emergency was once imposed on Ekiti State by former President Olusegun Obasanjo when Ayo Fayose was the Governor of Ekiti State so the SOE isn't a new thing among the Yoruba-speaking States.
iwaeda:
The hunters, who recently undertook a long journey to confidentially brief a prominent community advocate, disclosed deeply troubling allegations involving both the DSS and military personnel stationed in their region.
Alarming revelations have emerged from a part of Southwestern Nigeria, where local hunters have accused some operatives of the Department of State Services (DSS) and soldiers of compromising t security efforts through corruption, negligence, and misconduct.
The hunters, who recently undertook a long journey to confidentially brief a prominent community advocate, disclosed deeply troubling allegations involving both the DSS and military personnel stationed in their region.
They insisted on delivering the message in person, citing the sensitivity of the information and fear of interception over digital channels.
“I just had a visit from the top hunters in a part of Northern South Western Nigeria. They spent hours and hours on the road to come and tell me some very bad and confidential things. It was not the stuff they wanted to discuss over the phone or the internet,” the source said.
At the heart of the allegations is the DSS’s alleged abuse of sophisticated telephone tracking technology—meant to identify and rescue kidnap victims—now reportedly being used to extort money from the very criminals it was designed to catch.
According to the hunters, some DSS operatives have been accused of collecting payments from kidnappers in exchange for concealing their locations. A few of these officers were said to have been recently arrested and transported to Abuja in leg chains.
“The hunters said the DSS operatives make use of the sophisticated telephone tracking system to locate kidnappers and their victims. Then they extort money from the kidnappers in return for hiding their true positions. They said some of them were recently arrested and taken to Abuja in leg chains,” the source said.
The action of the security operatives was described as betrayal and outright sabotage of national security.
In a similarly damning narrative, the hunters alleged that soldiers formerly involved in t patrols have now been sidelined due to a series of “transactional” behaviours that have eroded trust.
These include open extortion of motorists at informal checkpoints, careless conduct during operations leading to the loss of hunters’ lives, and inappropriate relationships with local women—including advances toward married women—funded by bribes extorted at roadside "toll gates."
Drivers allegedly hand over ₦500 notes and ask for ₦200 change in full view of the public, as soldiers collect these tolls openly, turning national security checkpoints into cash points.
“It also concerns the soldiers who work with the hunters. Both the DSS and soldiers are now overwhelmingly transactional. Transactional to the point where the hunters are no longer involving the soldiers in their t patrols,” the source said.
“The reasons they gave point to the death of fellow hunters due to the operational carelessness of soldiers. Transactional ‘toll gate’ operations on commercial and other vehicles in broad daylight, dating the local women and enticing the local women for ‘dredging’ including making advances at married women with the ‘toll gate’ money collected.”
Disturbed by the worsening situation, the hunters said they were now reverting to traditional methods of protecting their communities. One chilling warning was the mention of “Magun”—a deadly traditional trap used to punish sexual offenders—suggesting that local men were ready to deploy ancient justice to defend their families.
“They say it’s only a matter of time before a headline reads: 'Soja Lu Magun' (Soldier killed after sleeping with another man’s wife),’” the source added, hinting at the growing tension between the local communities and the security forces deployed to protect them.
Alex Otti was once the GMD of Diamond Bank. That simply means the man understands every trick of financial management more than any other governor in Nigeria today.
What Alex Otti is doing has nothing to do with Tinubu who cannot even tell his left from his right.
The same President Bola Tinubu you are condemning here (He is a technocrat, chartered ant and auditor who rose to the senior position of a treasurer with Mobil Nigeria now ExxonMobil) as a person "who cannot tell his left from his right" is the same man who has already granted the approval for a full-fledged airport to be built by the Federal Government right in that same Abia State. Alex Otti only offered to provide land and construct the runway. Bola Tinubu and Alex Otti have been friends for long right from Lagos and with Alex Otti's previous association with Action Congress, now rebranded and fused into All Progressives Congress. I detest it when people like you engage in obvious bigotry and/or selective amnesia. The same Tinubu also signed the Electricity Act into law which will give the 36 Nigerian States the ability to generate and transmit their own electricity supply, which is what he tried to do as the Governor of Lagos State with Enron which the then President Olusegun Obasanjo ruthlessly scuttled because Lagos State wasn't governed by a PDP Governor and much more. When someone does well, he or she should be commended, BUT when the same person doesn't perform optimally, then constructive criticisms are apt NOT insults!
Indeed, Alex Otti is a banker by professional so that should give insights into why he is performing BUT that itself may not be an absolute reason why he seems to be doing well. Until the Abia State s are properly checked, you do not know how much huge debts Abia State owes as loans for these "massive" projects. Governor Babajide Sanwo-Olu too is an investment banker who rose to the senior rank of a treasurer in his bank before ing the Lagos State Government as the first Chairman of the Lagos State Security Trust Fund," and then went on to be appointed as a Lagos State Commissioner under the Governor Babatunde Fashola istration. So, Alex isn't the ONLY banker in government as a State Governor. There are others as well doing quite well.
One of the five victims injured in Friday’s explosion at a CCTV dealer’s shop on Kodesho Street, near Computer Village in the Ikeja area of Lagos State, has died.
A dealer in the popular tech hub told PUNCH Online on Sunday that the victim succumbed to injuries on Saturday.
The source, who preferred not to be named due to the sensitive nature of the incident, said, “We lost one of them on Saturday evening. The doctors made efforts to save him, but he didn’t make it.
“They are currently battling to save the lives of others.”
The Commissioner of Police, Olohundare Jimoh, was also said to have visited the scene for an on-the-spot assessment shortly after the incident.
Hundeyin added that the five individuals injured during the explosion were taken to the Lagos State University Teaching Hospital for treatment.
When ed to confirm the death of the victim, Hundeyin said, “Yes, we have been informed that one of them died on Saturday.”
When asked about the state of the investigation, the police image maker said, “The investigation is still on. We will make it public as soon as it is concluded.”
My name is Amaka, and this is the story I never thought I’d tell. It’s a story soaked in pain, betrayal, resilience, and, eventually, a new kind of strength. I was born and raised in Edo State, Nigeria, the first daughter in a struggling family of six. Life wasn’t kind to us, but we managed to survive — until survival became a battle I had to fight on foreign soil.
The Deception: How It All Began
I was 19 when a woman called Aunty Pat approached me with an offer. She told me she had a “connection” to get young girls to work abroad, promising better pay and the chance to our families. “Just six months in Egypt, and you’ll come back with enough to start your own boutique,” she said, smiling with deceit masked as kindness.
To be chosen, I had to “show seriousness.” That meant raising money to process the so-called “travel documents” and bribing the agent in charge. I sold almost everything I owned — my mother’s old gold earrings, the small fridge I had bought from my petty trading, and even borrowed money from friends. But that wasn’t enough.
One day, I was invited to “greet” the man who would finalize our selection. He was Aunty Pat’s business partner and, as it turned out, her secret lover. But that didn’t stop her from pimping me to him. I knew it was wrong. I cried, begged, and resisted, but desperation is a cruel master. That night, I crossed a line I’ll never forget. I slept with him, convincing myself it was just a price to pay to save my family. He picked me the next day.
The Hell Before Egypt: My Libyan Ordeal
We didn’t go straight to Egypt. First, we were smuggled through the Sahara Desert into Libya — the real hell. We were packed in the back of a pickup truck with over 30 others, breathing in dust and sweat, with the sun roasting our backs. I saw girls faint. One died. Her body was thrown off the truck like trash.
In Libya, we were kept in a house for weeks, treated like cargo. Armed men guarded the gates. We were raped, starved, and beaten. I lost my period, my faith, and my innocence in that house. The agents would come at night, pick girls like items from a shelf, and return them in the morning — bleeding, broken, hollow.
One night, I overheard some of the men talking about selling us to Libyan soldiers. That night, I knew I had to escape or die trying.
The Escape to Egypt
With the help of another girl, Zainab, who had been there longer, we planned our escape. We waited until one of the guards got drunk, snuck out through the backyard, and ran barefoot into the night. We hid in an abandoned building for two days before a kind Sudanese man agreed to help smuggle us into Egypt.
The journey was long and terrifying, but somehow, we made it to Cairo. I thought I had escaped hell. I was wrong. I had only entered another one.
Life as a Maid in Egypt
My “madam” was a widow with three children. At first, she seemed kind. She gave me clothes and food, told me I would be like a daughter. But the kindness vanished quickly. I became her slave — working from 5 a.m. till midnight every day. I wasn’t allowed to rest, eat properly, or talk to anyone. If I broke a plate or made a mistake, I was beaten. Her children spat on me. Sometimes, they would steal food and blame me.
Worse was her brother-in-law, a man with cruel eyes and wicked hands. He would corner me, whisper filth into my ears, and grope me when no one was looking. I reported him once. I got a slap and was told never to speak again. “You are lucky to even be alive,” she said.
I wasn’t paid. My port was taken. I was trapped.
The Pain, the Glory, the Freedom
One day, I fell seriously ill. Madam refused to take me to the hospital. I lay on the floor for hours, drifting in and out of consciousness. That was the moment everything changed. One of the neighbors, an old Egyptian woman, found me when she came to visit the house. She called the police. When they arrived, Madam tried to lie, but the bruises on my back and the scars told my story louder than I ever could.
I was rescued and taken to a shelter for abused migrant workers. For the first time in years, I slept without fear. I was enrolled in a program, learned some Arabic, and even took a sewing course.
Now, I work with a women’s rights organization in Cairo, helping other girls like me escape abuse. I still cry sometimes, especially when I the girl who died in the desert or the nights I lay bleeding in Libya. But I’ve found purpose. I’ve found strength.
Final Words
I am not telling this story for pity. I am telling it because silence kills, and truth heals. So many girls are still out there — in Libya, in Egypt, even in Nigeria — being lured with false promises. If my story can save even one girl from walking the road I did, then every scar, every tear, and every night of horror was worth it.
From dust to dawn, I rose. And I will keep rising.
AmazingGenius: Nigerians shift to made-in-Nigeria products as imported items become too expensive.
Nigerians are increasingly embracing locally-made products as the soaring cost of foreign goods, driven by currency depreciation and import pressures, forces a rethink of household spending.
What was once a matter of preference is now a matter of necessity, and consumers are adapting fast.
This trend came into sharp focus on a recent episode of Drinks and Mics, a Nairametrics podcast hosted by Ugodre Obi-Chukwu and co-hosted by Arnold Dublin-Green and Tunji Andrews.
Watch the episode:
The episode featured Oler Oladele, founder of the MoneyWit Club, who shared how Nigerians — particularly families — are adjusting to the realities of a tighter economy.
“When we talk about macroeconomic numbers, it’s easy to get lost in all the data and forget the real people behind the numbers,” Oler said during the show. “But the real impact, the significant impact, is on Nigerians themselves. Beyond forex depreciation or GDP, we have to ask: how are people actually living?”
The answer, it seems, lies in the supermarket aisle and around the family dining table. According to Oler, Nigerian consumer behavior is undergoing a quiet but dramatic transformation.
“Think about it: how many people are still casually shipping things from America like they used to? Or taking shopping trips to Dubai? Those days are gone — or at least drastically reduced,” she noted.
This change is not anecdotal. Recent reports show a drop in import volume, which some analysts link to Nigeria’s recent balance of payments surplus.
“I reading that the surplus was driven not by rising exports, but by reduced imports. It shows how much our consumption patterns are shifting,” Oler added.
Reforms and rising inflation
The shift comes in the aftermath of bold economic reforms rolled out by the istration of President Bola Tinubu, which began shortly after he took office in May 2023. These included the removal of fuel subsidies, the unification of Nigeria’s multiple exchange rates, and the partial withdrawal of electricity subsidies.
• While these reforms earned praise for improving policy credibility and unlocking market efficiency, they have also contributed to a sharp rise in the cost of living. Inflation has soared to a two-decade high, touching 34.8% in early 2025, with food and energy costs being primary drivers.
Fuel prices remain a particular concern. Oler noted that while devaluation often triggers trader exits and price hikes, the bigger pain point for households tends to be petrol. “If oil prices drop but the naira also weakens, that’s when things get tricky,” she warned.
Still, the agreed that inflation may not bite as harshly as before, at least in certain categories, thanks to consumer adaptation. “Imported inflation isn’t hitting as hard anymore because people simply aren’t buying the imported version,” said co-host Tunji Andrews.
He shared a personal anecdote to illustrate: “I was at the supermarket buying cereal for my kids. I picked a nicely packaged brand, and someone pointed out, ‘That’s the imported one.’ I didn’t even know we had a Nigerian version. That’s how much substitution is happening.”
The economics of humility
What emerges from this shift is a broader story — one of economic resilience, but also humility.
“A lot of people can no longer afford to buy new cars. But it’s not just the big stuff,” Oler explained. “Even buying kitchen towels has changed. I sat with some mothers recently, and they told me how their nannies now influence which brands they buy because of price. The economy has humbled a lot of people.”
She went on to emphasize how this shift is not just about brand switching — it’s about a complete reprioritization of household needs. “The elite may not feel it as sharply unless they stop eating out and start shopping like everyone else. But if you’re buying things for a family every week, you’ll see how much has changed.”
• Ugodre Obi-Chukwu raised a critical question during the podcast: Is the weakening exchange rate still the major threat to everyday Nigerians it once was?
“I’d say not really,” Oler replied. “Not in the same way. Because consumer patterns have adjusted, people are navigating around it.”
And this may be the real story of Nigeria’s economic transformation — not just in policy , but in the lived experiences of its people. As imported goods become more expensive and foreign exchange pressures persist, Nigerians are responding not with despair, but with adaptation.
Babaflenjor:
CBEX ST has crashed all money on assets gone , the app and their website is still accessible as at 5:40 pm today Monday 14th April 2025, but people's money on the app already gone,
"PROFESSIONS IN NIGERIA THAT END IN POVERTY — AND HOW TO ESCAPE BEFORE IT’S TOO LATE"
This one hits hard, exposes painful truths, makes people emotional, and offers real escape plans. It’s designed to go viral, especially with Nigerian audiences.
“35 YEARS OF SERVICE... AND NOTHING TO SHOW FOR IT?”
A painful post about teaching, civil service, healthcare, and other respected professions that leave people broke after retirement.
Have you ever seen a retired teacher in Nigeria?
Bent back… faded glasses… walking to a ministry office every Monday with a pension file tucked under one arm, hoping—praying—that this will be the day his name finally enters payment batch?
Ever watched a civil servant who once wore sharp suits and supervised millions… now begging his son for ₦2,000?
Have you seen a nurse who worked night shifts for 30 years… now sitting in her one-room apartment, sharing malaria drugs with her neighbors because she can’t afford to refill her own prescription?
This post is for them.
This post is for anyone still believing that ion, loyalty, and salary alone will protect them from poverty.
In Nigeria, some professions will give you respect while you’re working… and regrets when you retire.
And here’s the painful part:
It’s not the job that’s the problem.
It’s the mindset people carry while doing it.
An insightful thread.
It's all in the mind and time management. The mind requires a major tectonic shift in order to get to the next level of financial literacy.
Reverseng:
Everybody cannot make excess money like others. Some were born to die 'poor' according to society standards.
Not everyone can be dangote. NOT everyone can be Einstein. Some can be better then these men, others not so much.
People's purpose in life is different. Some people could be born into this world in order to learn the virtue of patience. Some to learn the virtue of selflessness. The journey is the destination
Learn to stop tying your existence to Money. Do not live to impress others. Cut your clothe according to your size.
If you can't afford champagne, but your coke and shake it well. Bubbles will come out.
Happiness cannot be such a cruel joke that the creator will make it so hard for his creation to grasp. Happine is inside you. Reach for it
Division is not going to happen because North has oil.
Because the North has to transport the oil to the sea for export...and the problem is, in a divided Nigeria, it may end up paying transit fees for the oil to reach export terminals, which may eat up a large chunk of export revenue.
A united Nigeria is beneficial to the North than a divided one. Most landlocked African countries have one prayer...free access to the sea.That is why that railway to Niger is going to benefit Nigeria long term, they will be paying back the cost of building it in transit fees and other costs over the years.
US President Donald Trump's istration has exempted smartphones, computers and some other electronic devices from "reciprocal" tariffs, including the 125% levies imposed on Chinese imports.
In a notice, US Customs and Border Patrol said that the goods would be excluded from Trump's 10% global tariff on most countries and the much larger Chinese import tax.
It marks the first significant reprieve of any kind in Trump's tariffs on China, with one trade analyst describing it as a "game-changer scenario".
GistMedia0:
A funeral ceremony turned tragic in Philadelphia when a platform gave way during the burial of Benjamin Aviles, pulling multiple people — including the deceased man's son — into the grave.
The heartbreaking incident occurred during the final moments of the service for Aviles, who ed away in late March. As pallbearers were attempting to lower his casket into the ground, the platform ing them suddenly collapsed, causing the casket and several family to fall into the burial pit.
In a particularly shocking moment, Aviles’ son became trapped with his face pressed into the mud, pinned beneath his father's casket. Eyewitnesses described a chaotic and emotional scene as mourners screamed and rushed to help.
Several pallbearers also suffered injuries in the fall, including wounds to their legs, hands, and backs. Emergency services were called to the scene and assisted in rescuing those trapped.
The incident has left the grieving family even more devastated, turning an already painful farewell into a traumatic experience.
Indeed but they cannot. Even Achebe, Igbocentric and bigoted as he was, warned them to tone down their “noisy exhibitionism and disregard for humility and quietness” that offends others.
What Achebe does not acknowledge about his fellow Igbos is that they are beyond redemption because they lack the humility classy people have that makes them modest and respectful towards others they are even a million miles better than.
Yorubas have this humility and that is why they are not braggarts despite their commendable and exemplary achievements worldwide in all field of human endeavor.
Igbos, conversely, are born pugnaciously arrogant and immodestly offensive sufferers of delusions of grandeur. They must push their own aberrancy in the face of others always.
Hence the reason they are never happy unless when putting others down even if they have to do that with exaggerated lies about their wealth and achievement which are actually nothing stood side by side with that of the Yorubas.
Imagine the disgraceful old Ohanaeze clown, at his age, claiming ludicrously that Igbos developed Lagos. How will the asinine claim, coming from an elder who should know better, not annoy others?
One wonders if Igbos are born with mental health issues because it is obvious there is something fundamentally wrong for them to persist with this behaviour that has made many conclude they are totally and offensively beyond redemption.
Once a sane person conclude folks who are offensive cannot change then to fight and resist them is the next and only option. This is why Igbos have quarrels with all others universally.
XAUBulls: 12:08pm On Apr 16
