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How Middle East Tensions Are Raising Living Costs in Nigeria – Finance Minister

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Minister of Finance and Coordinating Minister of the Economy, Wale Edun
Minister of Finance and Coordinating Minister of the Economy, Wale Edun

How Middle East Tensions Are Raising Living Costs in Nigeria – Finance Minister

Nigeria’s Minister of Finance, Wale Edun, has revealed how the ongoing US–Israel–Iran conflict is fueling inflation in Nigeria, triggering widespread economic pressures on households and businesses.

Speaking after the IMF/World Bank Spring Meetings, Edun said the geopolitical crisis has unleashed external shocks that are disrupting global energy markets, tightening financial conditions, and worsening the cost of living in Nigeria.

He explained that the crisis is unfolding at a critical time when Nigeria is implementing major economic reforms aimed at stabilising the economy, attracting investment, and lifting millions out of poverty.

According to Edun, one of the most immediate impacts has been the sharp rise in global oil prices, driven by supply disruptions around key transit routes such as the Strait of Hormuz. Nigeria’s Bonny Light crude, he noted, surged from about $70–$73 per barrel to highs exceeding $110–$120.

This spike has translated directly into higher domestic fuel costs, worsening energy prices in Nigeria.

“Volatility in global energy markets is already influencing domestic energy-related commodities, with direct implications for prices and the standard of living of Nigerians,” he said.

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Edun disclosed that petrol prices increased by over 50 percent—from about ₦890–₦900 per litre to between ₦1,260 and ₦1,330—while diesel prices jumped by more than 70 percent, rising from around ₦1,100 to nearly ₦1,550 per litre at peak levels.

The surge in fuel prices has triggered a ripple effect across the economy, significantly increasing transportation costs and pushing up food prices in Nigeria. Businesses are also grappling with higher production and logistics costs, which are being passed on to consumers.

As a result, inflation in Nigeria continues to climb, placing additional strain on households already facing economic hardship.

Beyond energy costs, the minister highlighted tightening global financial conditions as another major concern. He said geopolitical uncertainty has led investors to shift funds to safer economies, reducing capital inflows into emerging markets like Nigeria and putting pressure on the naira.

Despite these challenges, Edun said Nigeria is better positioned to withstand the current shocks compared to previous crises such as the COVID-19 pandemic and the Russia–Ukraine war.

He pointed to ongoing reforms—including fuel subsidy removal, exchange rate adjustments, and fiscal restructuring—as measures that have strengthened the country’s macroeconomic outlook.

Edun reaffirmed the government’s commitment to maintaining macroeconomic stability in Nigeria, attracting both local and foreign investments, and expanding social protection programmes to cushion vulnerable populations.

He also called for increased international support from institutions such as the International Monetary Fund and the World Bank, stressing that countries undergoing economic transitions need additional backing to navigate global uncertainties.

In summary, the finance minister warned that while Nigeria is making progress through reforms, the US–Israel–Iran conflict is significantly driving inflation, rising fuel prices, and cost of living increases in Nigeria, underscoring the need for coordinated domestic and global responses.

 

How Middle East Tensions Are Raising Living Costs in Nigeria – Finance Minister

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INEC recruitment 2026: How to apply as commission opens portal for nationwide jobs

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INEC recruitment 2026: How to apply as commission opens portal for nationwide jobs

INEC recruitment 2026: How to apply as commission opens portal for nationwide jobs

The Independent National Electoral Commission (INEC) has officially commenced its 2026 recruitment exercise, inviting qualified Nigerians to apply for permanent entry-level positions across various departments as part of efforts to strengthen the country’s electoral system ahead of future elections.

The electoral umpire announced that its online recruitment portal opened on Monday, July 20, 2026, and will remain accessible until Monday, July 27, 2026. The commission urged interested applicants to complete their registration before the deadline, stressing that late submissions will not be considered.

According to INEC, the recruitment exercise is designed to boost its workforce in critical areas including electoral administration, voter registration, election logistics, information and communication technology (ICT), data management, engineering, legal services, finance and healthcare. The commission said the exercise forms part of its commitment to improving operational efficiency and delivering credible elections across Nigeria.

The commission emphasized that the recruitment process is completely free of charge and warned Nigerians against fraudsters posing as recruitment agents or promising employment in exchange for money. It reiterated that no individual, group or organization has been authorized to collect payment or influence the recruitment process.

Applicants are advised to submit their applications only through the official INEC recruitment portal, where they are required to create an account using a valid email address and their National Identification Number (NIN) before completing the online application form.

Vacancies available

The commission said recruitment is being conducted under three major cadres.

The Professional Cadre, covering Grade Levels 09, 10 and 12, includes vacancies for Accountants, Lawyers, ICT Officers, Engineers, Clinical Officers and Quantity Surveyors.

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Candidates applying for these positions must possess at least a bachelor’s degree or its equivalent from a recognized institution. Depending on the position, applicants are also expected to possess relevant professional certifications such as ICAN, ANAN, NBA, COREN, NSE, NIQS or CPN, alongside a minimum of two years of post-qualification experience and an NYSC discharge or exemption certificate.

For the position of Administrative Officer II (Registration Area Officer) on Grade Level 08, applicants must possess a bachelor’s degree, Higher National Diploma (HND) or equivalent qualification in the Social Sciences, Humanities or Sciences. They must also demonstrate proficiency in computer applications, records management and data administration.

The commission is also recruiting Executive Officers (Registration Officers) on Grade Level 07. Applicants for this category are required to possess a National Certificate in Education (NCE) or an equivalent qualification from a recognized institution, in addition to strong communication, organizational and computer skills.

General eligibility requirements

To qualify for the INEC recruitment 2026 exercise, applicants must:

  • Be Nigerian citizens.
  • Not be more than 35 years old at the time of application.
  • Possess a valid certificate of state of origin signed by the chairman or secretary of their Local Government Area.
  • Be medically certified as physically and mentally fit by a government medical officer.
  • Have no criminal record or conviction.
  • Be willing to work in any part of Nigeria.
  • Demonstrate integrity, discipline and commitment to public service.

Documents required

Applicants are expected to upload the following documents during registration:

  • Recent passport photograph.
  • Birth certificate or declaration of age.
  • O’Level certificate.
  • Degree, HND or NCE certificate, where applicable.
  • NYSC discharge, exemption or exclusion certificate.
  • Local Government Area identification certificate.
  • Relevant professional certificates for specialized positions.

INEC advised candidates to ensure that all documents uploaded are genuine and legible, warning that false declarations or forged credentials will lead to immediate disqualification and possible prosecution.

How to apply for INEC recruitment 2026

Interested candidates should visit the official INEC recruitment portal, create an applicant account using their personal information, email address and National Identification Number (NIN), verify their email and proceed to complete the online application.

Applicants are encouraged to carefully select their preferred cadre before submitting the application because the commission said submitted applications cannot be edited or transferred to another vacancy.

INEC also clarified that applications submitted through email, third-party websites or recruitment agents will not be accepted. Only applications completed through the commission’s official recruitment portal will be processed.

The commission added that only shortlisted candidates will be contacted for the next stage of the recruitment exercise, which may include document verification, aptitude tests, interviews and other assessment procedures before final appointments are made.

With preparations gradually gathering pace for the 2027 General Election, the recruitment exercise is expected to enhance INEC’s institutional capacity and improve the delivery of electoral services across the federation.

INEC recruitment 2026: How to apply as commission opens portal for nationwide jobs

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Abacha Died of Cardiac Arrest During Intercourse, Not Poisoning — Ex-DSS Chief

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Abacha Died of Cardiac Arrest During Intercourse, Not Poisoning — Ex-DSS Chief
General Sani Abacha

Abacha Died of Cardiac Arrest During Intercourse, Not Poisoning — Ex-DSS Chief

Former Assistant Director of the Department of State Services (DSS), Dennis Amachree, has provided a fresh account of the death of Nigeria’s former Head of State, General Sani Abacha, claiming the late military ruler died from a cardiac arrest during an intimate encounter at the Presidential Villa in Abuja.

Amachree made the revelation in his newly released memoir, DSS @40: My Journey Behind the Shield, offering what he described as the true account of the circumstances surrounding Abacha’s controversial death on June 8, 1998.

Abacha, who ruled Nigeria from November 1993 until his death in office, has remained one of the country’s most controversial leaders, with his demise giving rise to numerous conspiracy theories over the years.

According to excerpts of the book published by The Nation, Amachree, who was serving as Assistant Director of Operations and Intelligence at the Lagos DSS Command at the time, said Abacha died at about 4:05 a.m. while in the company of a female pharmacist at the Aso Rock Guest House.

He explained that the woman had accompanied her elder sister, described as Abacha’s girlfriend, to the Presidential Villa after the Head of State reportedly purchased a new SUV for the elder sister.

Amachree said the elder sister later returned to her hotel, leaving the pharmacist alone with Abacha.

He wrote that shortly after they became intimate, the woman noticed that the military ruler had suddenly become motionless and unresponsive.

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According to him, the pharmacist checked Abacha’s pulse but found none before hurriedly dressing up and requesting a vehicle back to her hotel.

“The soldier on duty, unaware of what had happened, arranged transportation for her,” Amachree wrote.

He added that after informing her elder sister about the incident, the pharmacist was immediately taken to the Abuja airport, where she boarded a 7:00 a.m. Okada Air flight to Lagos.

Amachree disclosed that Major Hamza Al-Mustapha, Abacha’s Chief Security Officer, was informed of the president’s condition around 5:00 a.m. and immediately sought to locate the woman who had been with him.

However, by the time security operatives arrived at the Hilton Hotel in Abuja, the pharmacist had already departed for Lagos.

The retired DSS officer said he later received instructions from the DSS headquarters in Abuja to locate and interrogate the woman in Lagos.

According to him, she was traced to Ogudu and brought to his office for questioning.

Amachree recalled that her first words during the interrogation were: “I did not kill him, he died on top of me.”

He said after obtaining her detailed statement, he contacted the DSS headquarters, after which the woman was flown back to Abuja.

The former intelligence officer maintained that the pharmacist’s account supports the conclusion that Abacha suffered a coitus-induced cardiac arrest.

He argued that the testimony dismisses several longstanding claims surrounding the former military ruler’s death, including allegations that he was poisoned with an apple or died after being entertained by foreign women.

Amachree insisted that the account presented in his book reflects the actual events and should put to rest decades of speculation over Abacha’s final moments.

General Sani Abacha died on June 8, 1998, after nearly five years in power. His death came less than a month before the death of Chief Moshood Kashimawo Olawale (MKO) Abiola, the presumed winner of the annulled June 12, 1993 presidential election, who died in detention while under the Abacha regime.

Abacha Died of Cardiac Arrest During Intercourse, Not Poisoning — Ex-DSS Chief

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NLC Announces Nationwide Campaign for New Minimum Wage, National Pension for Retirees

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NLC Announces Nationwide Campaign for New Minimum Wage, National Pension for Retirees

NLC Announces Nationwide Campaign for New Minimum Wage, National Pension for Retirees

  • Joe Ajaero says it is a ‘historical injustice’ for retirees to live below poverty line after years of service

ABUJA, Nigeria – The Nigeria Labour Congress (NLC) has announced plans to launch a nationwide campaign for a comprehensive review of the national minimum wage while also pushing for the introduction of a national minimum pension for retirees, describing the current plight of pensioners as a “historical injustice” that must be urgently addressed.

Speaking during the inauguration of the Comrade Godwin Abumisi Pensioners’ Legacy House and Multipurpose Hall in Abuja, NLC President Joe Ajaero said the welfare of pensioners must receive the same level of attention as that of serving workers, stressing that organised labour would no longer advocate improved wages without demanding better living conditions for retirees.

“The Nigeria Labour Congress is currently in the preparatory stages for a major national struggle for a comprehensive review of the national minimum wage,” Ajaero said. “However, it is no longer acceptable to discuss the welfare of workers without also discussing the welfare of those who have completed their active years of service.”

Describing the current condition of many retirees as unacceptable, the labour leader said it was a “historical injustice” for citizens who devoted their productive years to national service to be left in poverty after retirement. “It is a historical injustice that men and women who devoted their youth, strength and productive years to the service of this nation should be condemned to live below the poverty line after retirement,” he said.

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The NLC president attributed the worsening plight of pensioners to the rising cost of living, galloping inflation and the increasing prices of food, healthcare and transportation, which have made life increasingly difficult for many retirees across the country. He noted that many retirees now survive on pensions that can no longer meet their basic needs, describing the situation as one that requires urgent government intervention. “We cannot continue to allow our senior citizens to survive on pensions that have become poverty wages. Every retiree deserves to live with dignity after decades of faithful service to the nation,” Ajaero stated.

The NLC president urged pensioners across the country to remain united and prepare to support the campaign for improved retirement benefits, describing the newly inaugurated Legacy House as a centre for mobilisation, strategic engagement and solidarity ahead of the planned campaign. He called on workers to remain united in defending their collective interests, noting that the labour movement would continue to demand the payment of outstanding pension arrears and the implementation of a pension system that guarantees retirees’ dignity and financial security. “We will continue to demand the immediate payment of all outstanding pension arrears and the implementation of a pension regime that guarantees every retiree a life of dignity and security,” Ajaero said.

According to the NLC president, the Congress will not only push for a new national minimum wage but will also demand the establishment of a national minimum pension to guarantee retirees a decent standard of living. He said the completion of the Legacy House should encourage workers and supporters of the labour movement to strengthen their collective efforts in ensuring that government meets its obligations to both serving workers and retirees. “Together, we shall continue to fight until every Nigerian worker and pensioner receives the justice, respect and welfare they deserve,” Ajaero stated.

The event, which took place at the NUP’s national headquarters in Abuja, also featured the inauguration of the union’s corporate headquarters, a multi-purpose hall and apartment complex commissioned by Kano State Governor Abba Yusuf. Governor Yusuf, who was honoured as the Most Pensioners-Friendly Governor of the Year 2024, announced a donation of ₦100 million to the Nigeria Union of Pensioners and reaffirmed his administration’s commitment to clearing pension liabilities in Kano State.

The NUP President, Comrade Godwin Abumisi, commended the Kano State Government for paying ₦32 billion out of the ₦48.6 billion gratuity liabilities inherited by the administration, describing the intervention as a major relief for thousands of pensioners and their families. Abumisi also expressed gratitude to President Bola Ahmed Tinubu for approving pension increases, clearing pension arrears and settling accrued rights, which he said had significantly improved the welfare of pensioners nationwide.

 

NLC Announces Nationwide Campaign for New Minimum Wage, National Pension for Retirees

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