Minimalist Christmas🎁🌲🤶🏾
"Christmas is such a carefree, low-pressure time—that’s one of the things I love about it." — Stephen King
Hello Venturer,
I trust you had a delightful Christmas holiday filled with love, merriment, and joyful celebrations alongside cherished family and friends. My holiday is a realization of many heartfelt wishes. However, I am aware that this is not the case for everyone, particularly in economies like Nigeria, where the prices of goods tripled this festive season.
Throughout the year, several African economies grappled with a notable surge in the costs of goods and services, plunging a considerable portion of the population below the poverty line. As of October, Nigeria recorded an annual inflation rate of 27.3%, marking its highest level since August 2005. This figure represents a rise from the previous month's 26.7%, as reported by the National Bureau of Statistics.
Despite these economic hurdles, some Nigerians have found creative ways to make the most of their limited resources this season, embracing simplicity in a low-key Christmas.
Ishioma Imokhai-Bello,
Staff Writer
What’s New
An inflated Christmas: embracing simplicity in a low-key Christmas
In October 2023, Nigeria’s annual inflation rate reached 27.3%, marking its highest level since August 2005, up from 26.7% in the previous month, as reported by the National Bureau of Statistics. Even as challenges mount, some Nigerians are finding creative ways to make the most of their limited resources this season. Read more
A CEOs Christmas: What spreading holiday cheer is like for Douglas Kendyson of Selar
Christmas means different things to different people. But the one thing everyone tends to feel during this time of the year is love. Love for family, love for friends, and if you’ve got enough room, love for strangers. Hence, Kendyson’s prompt to give his team 13th and 14th month salaries. Read more
Is Nollywood missing out on the big business of Christmas movies?
Watching movies that capture the holiday spirit has become a hallmark of Christmas entertainment passed from generation to generation. Although Nollywood is the second biggest movie industry, not many Nollywood films fall into this category. Is Nollywood missing out on the big business of Christmas movies? Read more
Annual Economic Index: How did Nigeria’s economy fare in 2023?
2023 was a year of extremes for the Nigerian economy. The economy achieved its highest stock market capitalization and a seemingly “decreased” unemployment rate. Yet, it also faced some of its lowest oil production, a record-high inflation rate of 28%, and a sharp devaluation of the naira by 40%. Read more
5 Nigerian consumer trends we noticed in 2023
Nigeria’s consumer market was in a fierce race with inflation in 2023. High fuel prices and the naira’s heavy devaluation drove inflation to an 18-year high of 28.2%. And so, several trends have emerged from their bids to adjust to these trends. These are five consumer trends we noticed among Nigerians in 2023. Read more
CBN policies and how they affected Nigerians in 2023
Many Nigerians would agree that 2023 was an interesting year for the Central Bank of Nigeria (CBN). The apex bank found itself under intense scrutiny, with people questioning everything from its leadership to the ink used to print currency notes. Read more
Why 50 million Africans may go hungry next year
The Sahel region of Africa has been plagued by conflicts, displacing millions of people. And according to the WFP, there isn’t enough funding to resolve persistent issues. People can’t afford healthy food, and this affects women and children the most. Read more
Nigeria’s top export destinations in 2023
What do Spain, France, and the Netherlands have in common? Beyond geography, they form a vital trio of destinations driving Nigeria’s surging export sector. This year Nigeria recorded a trade surplus of N1.89 trillion, as its total exports amounted to N10.35 trillion, while its total imports were N8.46 trillion. Read more
Two old tech companies are the biggest winners in Nigeria’s stock market
Two firms have changed from traditional businesses into successful fintech entities and have risen remarkably in the Nigerian stock market. These companies are profiting off fintech’s appeal to investors. Many people are optimistic about the opportunities to offer financial services to Nigeria’s largely underbanked population. Read more
Low expectations and hard realities trail Tinubu’s presidency in 2023
Over six months into his administration, Tinubu has made a lot of waves with hardly any progress. Not many Nigerians expected much from his presidency, so the lack of substantial advancements does not come as a surprise. Read more
Why does South Africa have a power crisis?
Eskom has been suffering from financial losses, poor planning, and corruption scandals. During the nine-year rule of former President Jacob Zuma, Eskom’s management was in disarray, and a judicial inquiry found that Zuma’s allies tried to plunder the company with his blessing. Read more
The New Wave of Nigeria’s Soft Power
Soft power - To attract, persuade, influence, and shape preferences through culture. Nigeria has effectively done this through entertainment. Our music, films, and content transcend borders, commanding global attention. As master storytellers, we are leveraging new technologies to amplify our cultural influence. Read our latest magazine issue to learn more.
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The Christmas pop song is a mainstay of the holiday season. But its two first big hitters offered more than festive cheer. Discover the unlikely story of Christmas pop and the Great Depression.
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