Connect with us

News

NLC protests: Why Nigeria’s economy is in such a mess

Published

on

Nigeria is currently experiencing its worst economic crisis in a generation, leading to widespread hardship and anger.

The trade union umbrella group, the Nigeria Labour Congress (NLC), held protests in the main cities on Tuesday, calling for more action from the government.

A litre of petrol costs more than three times what it did nine months ago, while the price of the staple food, rice, has more than doubled in the past year.

These two figures highlight the difficulties that many Nigerians are facing as wages have not kept up with the rising cost of living.

Like many nations, Nigeria has experienced economic shocks from beyond its shores in recent years, but there are also issues specific to the country, partly driven by the reforms introduced by President Bola Tinubu when he took office last May.

How bad is the economy?

Overall, annual inflation, which is the average rate at which prices go up, is now close to 30% – the highest figure in nearly three decades. The cost of food has risen even more – by 35%.

However, the monthly minimum wage, set by the government and which all employers are supposed to observe, has not changed since 2019, when it was put at 30,000 naira – this is worth just $19 (£15) at current exchange rates.

Many are going hungry, rationing what food they have or looking for cheaper alternatives.

In the north, some people are now eating the rice that is normally discarded as part of the milling process. The waste product usually goes into fish food.

Widely shared social media videos indicate how some are reducing portion sizes.

One clip shows a woman cutting a fish into nine pieces rather than the average four to five. She is heard saying her goal is to ensure her family can at least eat some fish twice a week.

What is causing Nigeria’s economic crisis?

Inflation has soared in many countries, as fuel and other costs spiked as a result of the war in Ukraine.

But President Tinubu’s efforts to remodel the economy have also added to the burden.

On the day he was sworn in nine months ago, the new president announced that the long-standing fuel subsidy would be ending.

This had kept petrol prices low for citizens of this oil-producing nation, but it was also a huge drain on public finances. In the first half of 2023, it accounted for 15% of the budget – more than the government spent on health or education. Mr Tinubu argued that this could be better used elsewhere.

However, the subsequent huge jump in the price of petrol has caused other prices to rise as companies pass on transportation and energy costs to the consumer.

One other factor that is pushing up inflation is an issue that Mr Tinubu inherited from his predecessor, Muhammadu Buhari, according to financial analyst Tilewa Adebajo.

He told the BBC’s Newsday programme that the previous government had asked the country’s central bank for short-term loans to cover spending amounting to $19bn.

The bank printed the money, which helped fuel inflation, Mr Adebajo said.

Chart showing the changing food prices

What has happened to the naira?

Mr Tinubu also ended the policy of pegging the price of the currency, the naira, to the US dollar rather than leaving it up to the market to determine on the basis of supply and demand. The central bank was spending a lot of money maintaining the level.

But scrapping the peg has led the naira’s value to plunge by more than two-thirds, briefly hitting an all-time low last week.

Last May, 10,000 naira would buy $22, now it will only fetch around $6.40.

As the naira is worth less, the price of all imported products has gone up.

When will things get better?

While the president is unlikely to reverse his decisions on the fuel subsidy and the naira, which he argues will pay off in the long run by making Nigeria’s economy stronger, the government has introduced some measures to ease the suffering.

Nigeria’s Vice-President Kashim Shettima announced the establishment of a board charged with controlling and regulating food prices. The government also ordered the national grain reserve to distribute 42,000 tonnes of grains, including maize and millet.

This is not the first time the government has said it is distributing aid to poor and vulnerable Nigerians, but labour unions have often criticised the government’s method of food distribution, saying much of it does not reach poor families.

The government has also said it is working with rice producers to get more of it into markets and customs officials have been instructed to cheaply sell off bags of the grain that they have seized. In a sign of how bad things are, on Friday this led to a crush in the biggest city, Lagos, which killed seven people, local media report. These hand-outs have now been halted.

The rice was seized under the previous government, which banned imports of rice to encourage local farmers to grow more. That ban was lifted last year in at attempt to bring down the cost but because of the fall in the value of the naira, that has not worked.

Around 15 million poorer households are also receiving a cash transfer of 25,000 naira ($16; £13) a month, but these days that doesn’t go very far.

Culled from the BBC

Continue Reading
Click to comment

Leave a Reply

Community

People’s Club Sugar Land Is Growing — Grand Patron Mbachu Explains Why

Published

on

…Credits principled leadership, philanthropy, and a renewed commitment to “Unity, Love and Service” for the historic branch’s growing membership and influence.

SUGAR LAND, TEXAS — The recent growth and renewed visibility of the Sugar Land People’s Club of Nigeria International did not happen by accident. According to the branch’s Grand Patron, Ide Obinna Nnanyelugo Mbachu, its resurgence is rooted in something far more enduring than ceremonies, titles, or social gatherings: a commitment to putting the organization’s guiding principles into practice.

In an interview reflecting on the branch’s recent progress, Mbachu said the philosophy of “Unity, Love, and Service” remains central to the People’s Club’s identity and is increasingly defining the direction of its Sugar Land branch.

“Unity means recognizing that our individual differences must never become greater than the institution that brings us together,” Mbachu said. “Love means genuinely caring about one another—not only when we celebrate, but when members and their families face difficult moments. Service is where those values become action. If we cannot translate fellowship into service to humanity, then we have missed the purpose of the organization.”

Grand Patron, Ide Obinna Nnanyelugo Mbachu.

People’s Club of Nigeria International traces its origins to Nigeria in 1971 and has since expanded through branches in Nigeria and internationally. Sugar Land occupies a distinctive place in that history as the organization’s First International Branch.

Mbachu said that legacy carries responsibility.

“People’s Club is not simply a social club where people gather, celebrate, and go home,” he said. “At its core, it is a philanthropic institution committed to community welfare. Our fellowship must have a human purpose. We must be able to look beyond ourselves, identify needs within our communities, and respond with compassion, resources, and action.”

He pointed to the COVID-19 pandemic as one example of that philosophy at work.

“I will never forget the COVID period, when fear and uncertainty had disrupted virtually every aspect of life,” Mbachu recalled. “Members of our Sugar Land branch stepped forward to distribute food to families struggling through that crisis. People were concerned about their own safety, yet our members understood that service was most meaningful when the community needed us most. That experience demonstrated what the People’s Club should represent.”

The branch has recently experienced renewed momentum in membership. Following its successful 2026 biannual induction, 16 new members were formally admitted, while additional community members have continued to express interest in joining.

Mbachu attributes that growth partly to greater organizational visibility, active programming, and an environment where prospective members can see fellowship and community engagement working together.

He particularly credited Hon. Prof. Chris Ulasi, Group Chairman of SLPCNI, and his executive team with helping reposition the branch.

“Professor Ulasi and his team deserve tremendous credit,” Mbachu said. “Leadership requires consistency, patience, and the ability to bring different personalities together around a common objective. The progress we are witnessing reflects considerable work behind the scenes; organizing members, strengthening participation, and ensuring that the branch continues moving forward.”

Mbachu also acknowledged PCNI National President Atty. Fidelis Onyebueke, whose leadership he said has contributed to stronger relationships across the organization.

“The National President has emphasized peace, reconciliation, and mutual respect among branches,” he said. “An international organization cannot prosper when its branches operate in unnecessary conflict. His efforts to promote understanding, dialogue, and unity across the People’s Club family have contributed significantly to the stability and renewed enthusiasm we are experiencing.”

For Mbachu, however, growth cannot simply be measured by numbers. The quality and commitment of those joining remain equally important.

“Our doors are open to reputable men and women who believe in what People’s Club represents and are prepared to contribute positively,” he said. “We welcome people who value integrity, fellowship, community service, and mutual respect. Membership should never be about what title you receive; it should be about what value you bring.”

That distinction, Mbachu argues, will determine whether the current momentum becomes lasting institutional progress.

For Sugar Land People’s Club, the formula he offers is remarkably straightforward: protect unity, practice love and make service visible. “When those three principles are genuinely lived,” Mbachu said, “the organization does not have to advertise its greatness. The community will see it.”

Continue Reading

Houston

Membership Surge Continues as Dr. Nkem Ugwu Joins People’s Club

Published

on

Following a successful induction ceremony, the First International Branch continues to attract new members drawn to its tradition of friendship, service, culture, and community

SUGAR LAND, TEXAS — The Sugar Land People’s Club of Nigeria International (SLPCNI) is continuing its membership expansion following its recently concluded induction ceremony, with Dr. Nkem Ugwu becoming one of the latest community members to join the organization.

Ugwu, a Sugar Land resident originally from Nsukka, Enugu State, Nigeria, is an entrepreneur and mother of three sons, a mother-in-law, and a grandmother. She describes service to others, family, and community engagement as important parts of her personal and professional life.

Grand Patron Ide Obinna Nnanyelugo Mbachu addressing the September Conference of the Sugar Land PCNI

Her membership comes on the heels of the branch’s successful bi-annual induction ceremony, during which 16 new members were formally sworn in by PCNI National President Atty. Fidelis Onyebueke. The celebration attracted national leaders, patrons, and members representing branches from across the People’s Club network.

Photo from left: Hon. Chief Sir Michael Okeke; Hon. Anaeto Okakpu “Oranwezuluaku”; Grand Patron Ide Obinna Nnanyelugo Mbachu; Hon. Dr. Nkem Ugwu ; Hon. Prof. Chris Ulasi, Group Chairman; Hon. Chief, Sir Basil Mbuba; Hon. Chief Sir Dr. Uche Egbuchuam “Akudo World Wide.”

Ugwu said joining the organization provides an opportunity to develop meaningful relationships while contributing to its mission.

“I am truly excited and honored to join the prestigious People’s Club of Nigeria International, Sugar Land Branch. I look forward to getting to know fellow members, building lasting friendships, and becoming actively involved in this vibrant and welcoming community. I am especially drawn to the Club’s tradition of fellowship, service, and mutual support, and I hope to contribute my experience, energy, and passion for serving others to its continued growth.”

Grand Patron Ide Obinna Nnanyelugo Mbachu welcomed Ugwu, describing continued interest in membership as encouraging for the historic First International Branch.

Membership Chairperson Hon. Chief Udoji Achebe and Hon. Ndidi Chidume

“When people of accomplishment and community spirit continue to identify with our organization, it tells us that the values upon which People’s Club was built remain relevant. We welcome Dr. Ugwu and look forward to the experience and fellowship she brings to our family.”

Hon. Prof. Chris Ulasi, Group Chairman, said the branch’s recent induction helped showcase an organization that continues to combine Nigerian cultural heritage with community engagement in Houston.

“Our successful induction created tremendous enthusiasm, but our focus goes beyond ceremonies. We are building a stronger organization rooted in friendship, responsibility and service. Dr. Ugwu’s decision to join reflects that continuing momentum.”

One of the meeting hosts, Hon. Professor Keih George, introduces the co-meeting hosts.

Membership Chairperson Hon. Chief Udoji Achebe said the branch remains interested in individuals prepared to participate actively in its programs and fellowship.

“Membership is about belonging, but it is equally about participation and contribution. We are delighted to welcome Dr. Ugwu and other prospective members who share the principles and aspirations of People’s Club.”

For SLPCNI, the growing interest following its induction represents another chapter in the evolution of a branch with a special place in the organization’s history.

And for Ugwu, it marks the beginning of a new journey—one centered on friendship, community, and service.

Continue Reading

Houston

Membership Interest Soars After Sugar Land People’s Club’s Successful Induction

Published

on

Branch considers annual induction as August celebration of prestige, culture and comradeship inspires growing community interest

HOUSTON, TEXAS — Membership requests to the Sugar Land Branch of People’s Club of Nigeria International (PCNI) have risen significantly following its successful August induction ceremony, prompting the organization to consider making the event an annual affair.

Group Chairman, Hon. Prof. Chris Ulasi, confirmed the surge in interest, saying the branch has received numerous inquiries from prospective members since the ceremony that formally admitted 16 new members to the organization.

“The response since the induction has been remarkable. We have seen a significant increase in people asking about membership and how they can become part of the People’s Club family,” Ulasi said. “Many of them attended the event or heard about it afterward and were impressed by the fellowship, dignity, cultural pride, and genuine comradeship they witnessed.”

Ulasi said the development, including a possible change from the current bi-annual induction arrangement to an annual ceremony, would be discussed at the branch’s September general meeting.

The renewed interest in membership comes on the heels of an elaborate induction that attracted national officers, patrons, branch chairmen, members, and guests from across the People’s Club family.

National President, Atty. Fidelis Onyebueke, who presided over the swearing-in of the 16 inductees, described the event as a total success and commended the Sugar Land Branch, PCNI’s First International Branch, for what he called an exceptional celebration of fellowship, culture, service, and unity.

During the formal ceremony, each inductee was invited to the podium to take the membership oath and receive a certificate from the national president, who was assisted by PCNI Attorney Chukwuka John Ukadike.

Beyond the admission of new members, however, the event offered guests a public display of the traditions that have historically defined the People’s Club: prestige, love, service, and comradeship. Those characteristics were reflected throughout the ceremony, from the reception of national officers and interaction among members to the formal induction, cultural presentation, and extended social celebration that followed.

Grand Patron, Ide Obinna Nnanyelugo Mbachu, said the growing interest in membership was an indication that the organization’s values resonated with guests who experienced the event.

“What people witnessed was the character of People’s Club—the love among members, respect for one another, willingness to serve, and the comradeship that brings us together,” Mbachu said. “Prestige is not simply about appearance; it is about how we conduct ourselves and how we treat people. When the community sees those values demonstrated, it is understandable that others would want to become part of the organization.”

The cultural presentation was among the most visible features of the evening. Women members and associates appeared in coordinated traditional attire featuring red-pinkish blouses with matching head ties and white wrappers bearing the PCNI logo. The men wore all-white outfits complemented by customized PCNI cap pins and distinctive PCNI sashes worn as neckpieces.

The coordinated appearance created a colorful expression of Nigerian cultural identity while reinforcing the sense of unity that characterized the gathering.

As the formal program concluded, the ceremony transitioned into an extended social celebration. Members, inductees, and guests shared food and drinks before taking to the dance floor, with music and festivities continuing into the early hours of Sunday.

The presence of members and officials from different branches also gave the ceremony broader significance for Sugar Land, whose status as the First International Branch places it prominently in PCNI’s history outside Nigeria.

For Ulasi, however, the strongest indication of the event’s impact came afterward, as inquiries from prospective members continued to reach the branch.

He said that while the organization welcomes the increased interest, prospective members would be expected to understand the responsibilities and traditions associated with belonging to the People’s Club. “Membership is about much more than attending social events,” Ulasi said. “It is about service, friendship, responsibility, and commitment to one another. Those are the values we intend to preserve as the branch continues to grow.”

The September meeting is expected to consider how the branch will respond to increased membership interest and whether the success of the August ceremony provides sufficient grounds to move to an annual induction schedule. For the Sugar Land Branch, the aftermath of the August induction may prove as significant as the ceremony itself: 16 members entered the People’s Club that evening, but the celebration appears to have inspired many more to seek a place within its ranks.

Continue Reading

Trending