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October 1, 2020, marks Nigeria’s 60 years of independence from Britain. Nigeria is Africa’s biggest economy and has oil as its chief source of income. In recent times talk of diversifying the economy has intensified, particularly since the Covid-19 pandemic has had a massive impact on the commodity’s price across the world. The country has seen many political challenges over the years, including a military takeover by late former general Sani Abacha who imprisoned MK Abiola who won the country’s first democratic election. Abacha also misappropriated large amounts of money since found in various banks around the world and returned to government coffers. The country is facing challenges of electricity shortages, strikes, the withdrawal of the government’s fuel subsidy, food shortages, floods and attacks by militants, Boko Haram and the splinter group ISWAP. Despite the challenges, Nigeria has also brought amazing talent to the world, including Nobel Laureate, poet Wole Soyinka, writer Chinua Achebe of Things Fall Apart fame, renowned singer Fela Kuti, athlete Blessing Okagbare-Ighoteguonor, soccer stars Jay-Jay Okocha, Nkwanku Kanu, Victor Osimhen, to name but a few. President Muhammadu Buhari in his address to the nation, spoke of the economic, security and moral challenges that still presents itself, urging the nation to “reflect on how we got here, in order to work together”.

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  • Nigeria faces the triple challenge of providing reliable power supply, reducing greenhouse gas emissions, and keeping energy affordable to consumers. The availability of … Read more »

  • The U.S. has said aside from the U.S.$311 million Abacha loot returned to the Nigerian government recently, another separate amount of U.S.$152 million was still in active … Read more »

(file photo).