NIGERIA POSTS $6.83 BILLION BALANCE OF PAYMENTS SURPLUS IN 2024, SIGNALING ECONOMIC RESURGENCE AND VALIDATING RENEWED HOPE AGENDA. (PHOTOS). #PRESS RELEASE

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 Nigeria Posts $6.83 Billion Balance of Payments Surplus in 2024, Signaling Economic Resurgence and validating Renewed Hope Agenda  The Central Bank of Nigeria (CBN) has announced a Balance of Payments (BOP) surplus of $6.83 billion for the 2024 financial year, marking a decisive turnaround from deficits of $3.34 billion in 2023 and $3.32 billion in 2022. This improvement reflects the impact of wide-ranging macroeconomic reforms, stronger trade performance, and renewed investor confidence in Nigeria’s economy. Stronger Trade and External Account Performance The current and capital account recorded a surplus of $17.22 billion in 2024, underpinned by a goods trade surplus of $13.17 billion. Petroleum imports declined by 23.2% to $14.06 billion, while non-oil imports fell by 12.6% to $25.74 billion. On the export side, gas exports rose by 48.3% to $8.66 billion, and non-oil exports increased by 24.6% to $7.46 billion. Remittance inflows remained resilient, with personal remittanc...
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HUNGER PROTEST BEGINS IN NIGER. (PHOTO)

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 Hunger Protest Begins In Niger


Some youths have trooped to the streets of Suleja in Niger State to protest the ongoing cost of living crisis in Nigeria. 


They wielded placards such as ‘Enough is Enough’; ‘Stop Anti-Masses Policies’; ‘We Are Not Slaves In Our Country’; ‘Hardship Is Unbearable’, ‘Fuel Subsidy Must Be Back’, among others.


The protesters marched on the streets as they chanted anti-government songs.


Our correspondent caught up with some of the protesters on Abuja-Kaduna expressway axis of Suleja and attempted to speak with them but they declined.


The Federal and State governments had made several efforts to stop the protest, saying it could be hijacked by hoodlums and enemies of democracy.


Last week, Governor Mohammed Bago had wooed residents of Niger with welfare packages to prevent the protest.


He had announced a N20,000 wage allowance for state and local government civil servants, ordered the immediate release of 50,000 metric tonnes of assorted grains to be sold at subsidised rates to mitigate the current economic hardship.


“We have over 100,000 metric tonnes of food in our reserves, out of which we will be releasing 50,000 metric tonnes to be sold at 50% of its present price. Before the end of the year, we will slash food prices by 90%,” he had said at a townhall meeting.


To show appreciation for their efforts in combating banditry, insurgency, and other criminal activities, the governor announced a gift of one Prado Jeep to each head of security agency in the state.


Although some of the organisers of the protest had announced August 1 as kick off date, others said it would commence in July.


The government or security agencies are yet to react to the protest which held in Niger.

More photos below. 



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