Welcome to NowNowNaija! High borrowing costs are squeezing Nigeria, Kenya, and South Africa’s economies, challenging growth and investment prospects.
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High Borrowing Costs Crippling Nigeria, Kenya, South Africa
Finance costs pinching Nigeria, Kenya, and South Africa’s growth efforts.
Borrowing expenses for governments and businesses in Nigeria, South Africa, and Kenya have climbed over the past five years due to policy flaws, tough market conditions, and inflation. Despite needing funds to drive growth, these countries face steep interest rates and limited capital, dampening their economic prospects.
This means more expensive loans that affect everything from government infrastructure projects to your personal job opportunities and the prices of goods. When governments and companies pay more to borrow, they often pass those costs to you by raising taxes, fees, or prices. It also makes it harder for new businesses to secure funding, slowing innovation and job creation. For everyday Nigerians, this squeeze could mean slower economic progress and fewer chances to improve livelihoods, underscoring how macroeconomic struggles translate into real impacts at home.
Source: The Nation Newspaper
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Quick Pulse
🏛 Politics: Former Vice President Atiku Abubakar criticizes the government’s plan to reduce its stake in oil sector joint ventures, warning it could destabilize energy security amid ongoing concerns about poverty and hunger in Nigeria.
💰 Business: Aliko Dangote announces Nigeria's fuel crisis is over after his refinery began production, saving the country $1 billion yearly and promising to expand industrialisation and job creation.
💻 Technology: Airtel Nigeria launches SmartConnect 5G Outdoor Unit Router to expand affordable, reliable broadband access nationwide, offering high speeds and power backup for uninterrupted connectivity.
🎲 Entertainment: Africast 2025 broadcast and media tech event set for October in Lagos, focusing on building a resilient African media ecosystem through digital innovation and policy discussions.
🌳 Environment: Osun Governor Ademola Adeleke expresses deep concern after severe flooding in Iwo, pledging government support and flood prevention measures to protect affected communities.
Politics and Economy
Atiku Sounds Alarm Over Oil Sector Stake Sale
Atiku’s sharp critique shines a spotlight on Nigeria’s oil and economic challenges.
Former Vice President Atiku Abubakar raised concerns about the federal government’s possible plan to sell key equity shares in oil sector joint ventures, warning this could jeopardize energy security and public trust. He also criticized ongoing economic hardships, citing widespread hunger and poverty despite government claims of progress. The presidency responded by defending recent reforms and economic indicators, dismissing Atiku's criticism as out of touch.
This debate touches your everyday life because the oil sector's stability directly affects fuel prices, job security, and government revenues that fund social programs. If government stakes are sold without transparency, you could see higher fuel costs and less control over Nigeria’s resources. Meanwhile, ongoing economic struggles like rising hunger mean families are stretched thinner, and political disagreements influence policies shaping your financial future. Understanding this helps make sense of the bigger economic picture and pressures politicians face.
Source: Thisdaylive
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What else is happening:
Court grants Emefiele’s request for forensic review.
President Tinubu cuts short 10-day vacation.
INEC reports 4.5m Nigerians registered in CVR.
Activists demand exoneration for Ken Saro-Wiwa.
Tech and Business
Airtel Launches SmartConnect to Expand Broadband Access
Airtel’s new SmartConnect router promises consistent connectivity for Nigerian households and businesses.
Airtel Nigeria is rolling out its SmartConnect 5G Outdoor Unit Router to boost affordable high-speed internet for homes and businesses. The device supports strong signals even with power outages, catering to Nigeria’s broadband challenges with flexible plans starting at ₦25,000 monthly.
This means you could finally get stable, fast internet at home or your small business without constant interruptions from power failures or weak signals. With up to 64 devices supported and affordable plans, staying connected for work, study, or entertainment becomes easier and less stressful. More reliable internet opens doors to remote jobs, online learning, and better digital services—giving you a real boost in daily productivity and enjoyment.
Source: The Nation Newspaper
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Dangote Claims $1bn Savings, Ends Fuel Queue Crisis
Dangote’s refinery transforms Nigerian fuel supply.
Dangote Petroleum Refinery has eliminated Nigeria’s decades-long fuel queue problem by producing enough petrol locally, saving the country $1 billion annually in demurrage charges. The refinery also plans to expand capacity and create thousands of jobs through a rollout of CNG-powered trucks.
Say goodbye to long waits at petrol stations that have frustrated Nigerians for decades. This refinery’s success means more fuel availability and potential price drops in your area, easing travel costs and daily commutes. Plus, the new green CNG trucks aim to create jobs and improve transportation reliability, which can lead to more stable goods delivery and local economic growth. This shift marks a big step in making Nigeria’s energy and transport sectors stronger and more self-reliant.
Source: Thisdaylive
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What else is happening:
Discussion on AI-enabled examination malpractice reforms
Announcement of Rural Connectivity Summit to address digital divide
Inflation drops to 20.12% amid moderation in energy and food prices
Entertainment and Culture
Hilda Baci Sets Guinness Record With Jollof Rice Feat
Peter Obi praises Hilda Baci’s record-breaking culinary triumph
Nigerian chef Hilda Baci has officially broken the Guinness World Record for cooking the largest serving of Nigerian-style jollof rice, producing an incredible 8,780 kilograms in Lagos. This monumental achievement spotlights Nigerian cuisine on a global stage and celebrates culinary passion and skills.
This record is not just about a big cooking feat; it shines a spotlight on Nigerian culture and the incredible talent that exists right here at home. It reminds you how powerful passion and persistence can be, inspiring young Nigerians to chase big dreams and elevating local pride. Whether you cook or simply love Nigerian food, this achievement makes the rich flavors and cultural heritage something to truly celebrate every time you gather over a meal.
Source: Naija News
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Guinness World Records Validates Hilda Baci’s Jollof Triumph
Hilda Baci’s epic jollof moment captures worldwide attention
Guinness World Records has confirmed Hilda Baci’s remarkable effort in Lagos, where she cooked the largest serving of Nigerian-style jollof rice weighing 8,780 kg. This event drew widespread attention, boosting Nigerian culinary arts and bringing crowds of enthusiasts together to celebrate local talent.
This global recognition means Nigerian culture isn’t just preserved; it's proudly projected on the world stage, making your pride in homegrown traditions well-deserved. The cultural buzz around this event demonstrates how food can unite communities and promote a shared identity. It’s a reminder that Nigerian creativity and heritage have a place far beyond our borders, inviting you to engage more deeply with your roots and local stories.
Source: The Guardian
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The Social Feed:
Africast 2025 scheduled for October 20 to 24 in Lagos showcasing media technology
Celebration of Nigerian culinary achievement with Hilda Baci’s jollof rice record
Benue IDPs seek support on school enrolment
Tinubu, others to attend King’s College 116th anniversary
☘ Environment and Community
Flood Devastates Osun Community, Governor Vows Action
A heavy downpour caused severe flooding in Iwo, Osun State, leading to significant losses for residents. Governor Ademola Adeleke has expressed deep sympathy and promised government intervention to prevent future floods.
Flooding like this hits your daily life hard—it can destroy your home, your belongings, and your sense of security. When waterways overflow after heavy rains, travel, business, and schooling grind to a halt, and the clean-up drags on for weeks. The government's efforts to dredge and channel waterways mean there’s hope for fewer disasters like this in the future. But your support is also key—avoiding dumping trash in drains can help keep water flowing and protect your community from similar trauma.
Source: The Guardian
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Community Spotlight:
Nigeria and others urged to upgrade climate plans to boost economies and living standards.
Lagos focuses on circularity in waste management valued at $2.5 billion with government waste-to-wealth initiatives.
💰 MoneyMoves Naija
Diesel Share Tank (Estate & Office Generators)
Quick Win: ₦30–₦80 profit per litre; 500L = ₦15k–₦40k per drop.
The Move: Buy AGO at ~₦978–₦1,010/L from Apapa/Abule-Ado depots (check daily ex-depot quotes), then deliver pre-ordered 500–1,000L to Lekki Phase 1/VGC or Ikeja GRA at ~₦1,050–₦1,100/L. Collect transfers upfront via a Paystack invoice; keep 3–5% for haulage/spillage and give estates a simple delivery window.
🔍 Smart tool of the day
Paystack (Android/iOS/Web): Send VAT-style invoices, share payment links, and accept cards, bank transfers, USSD—then auto-reconcile without chasing proofs.
Benefit: A Lekki dental clinic now bills retainers by link; clients pay from their phones, and day-end reconciliation hits the business bank account neatly—no POS queue drama.
Free to start: Pay per transaction (local: 1.5% + ₦100, capped ₦2,000; ₦100 waived under ₦2,500). No monthly fee.
Try it now → Click here.
❤️ Health & Fitness
Naija Life Saver
Beat bus-stop fatigue with a five-minute stair reset
Situation: Exhausted after long, rainy Enugu commute
Chidinma, who alights near Holy Ghost Park, kept dozing at her desk after keke rides and queues in the rain.
💡 Solution:
Find stairs or a low curb.
1 minute: slow nasal breathing, hands on ribs.
2 minutes: calf raises (3×15) + ankle circles for circulation.
2 minutes: wall sit (2×45s) + shoulder opens against wall.
Do it before breakfast or right after your commute; add a bottle of water afterward.
Why it works
Light leg pumps plus controlled breathing boost blood flow and alertness without spiking stress hormones.
With petrol now ₦841–₦851, what changes first this week?
Before You Go
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