Showing posts with the label Economy

Nigeria To Benefit From $1.5trn Global Blue Economy Annually With Creation Of New Ministry — Ohanaeze Youths

Written by Igho Oyoyo Socio-cultural group, Ohanaeze Youths, has said that the nation will benefit from the blue economy estimated to be worth more than $1.5 trillion per year globally, with the creation of Marine and Blue Economy Ministry by President Bola Ahmed Tinubu. The group, in a statement jointly signed by its leaders, Nwabueze Obi and Ekwem Eucharia, also said that the President made the right choice in appointing Hon. Olubunmi Tunji-Ojo as the Minister to man the affairs of the new Ministry. The group expressed optimism that with Tunji-Ojo in charge of the ministry, the annual revenue losses occasioned by Nigeria’s inability to substantially harness its ocean resources will be a thing of the past. The statement read: “Nigeria will benefit from $1.5 trillion world Blue Economy with the creation of Marine and Blue Economy Ministry by President Bola Ahmed Tinubu. Blue economy is marine-based economic developmental process which leads to improved wellbeing through sou

Nigerians abandon cars, ACs, ‘aso ebi’, others as fuel price hike bites harder

Nigerians have embraced several ingenious measures to survive to survive the hard times resulted from the increase of fuel prices across the country.  Some of the people spoke to Vanguard over the weekend saying they no longer use cars but join commercial vehicles while others trek distances to meet up with the hike. In some cases, people said they were not using air-conditioners, generator sets in their homes, while uniform clothes for parties popularly known as aso ebi have been abandoned. The litre of petrol jumped from N160 to N510 on May 29, 2023, after the announcement by President Bola Tinubu, that the fuel subsidy was removed.  This resulted in an increment in prices of goods and services in a nation already battling 22.77 percent inflation, but Nigerians were yet to recover when a litre of petrol again increased to N617 last Tuesday.  Speaking about means of survival, Nigerians vented their frustrations and what they have embraced to survive. A politician and farme