ChrisLuchy Charity Foundation

Introduction: Understanding the Current Economic Situation in Nigeria Nigeria, often referred to as the "Giant of Africa," is a country with vast potential and resources. However, it has been facing numerous economic challenges over the years that have hindered its growth and development. In recent times, Nigeria's economy has been hit hard by various internal and external factors, leading to slow growth, high inflation rates, and increased poverty levels. One of the main reasons for Nigeria's current economic situation is its heavy reliance on oil exports. The country is one of the top oil-producing nations globally, but this also makes it susceptible to fluctuations in global oil prices. In 2020 alone, Nigeria experienced a significant drop in revenue due to the COVID-19 pandemic and a sharp decline in oil prices. Moreover, political instability and corruption have also played a significant role in hindering economic growth in Nigeria. These issues have led to poor ...

Domestic violence is a pervasive issue that affects millions of individuals every year. It's time to shift the conversation and focus on promoting healthy relationships as a means of combatting this epidemic. In this blog post, we will explore the power of changing the narrative surrounding domestic violence and how fostering positive and respectful connections can help create a safer and more compassionate society for all. Join us on this journey towards building healthier relationships and breaking the cycle of abuse. The Prevalence of Domestic Violence Domestic violence is a serious and widespread issue that affects individuals, families, and communities around the world. It is defined as any type of behavior that involves physical, sexual, psychological, or financial abuse between intimate partners or family members. This includes physical violence such as hitting, kicking, and pushing; sexual violence including rape and forced sexual acts; emotional abuse like manipulation and...

Are you prone to impulse buying? Have you given in and made random, unnecessary purchases that eat into your potential savings without forethought? That could be why you can’t seem to recall what happened to that N20,000  bill in your wallet or how your budget got so off balance. Impulse buys add up, your morning N6,000 makeup kit, , the stylish N3,000 bag you saw and just had to have during your Target grocery run, the N2,000 cookies you bought from the Girl Scouts it’s a good cause, right? — and the N10,000 you spent at Mr bigs when you decided to grab a burrito on the way home because you’re too tired to cook. Before you know it, you’ve spent more than N50,000 over the course of the day on impulse buys. It happens to the best of us, as power of the mind it's a gateway  Retail marketers are trained in sneaky tactics that influence our urge to buy. Our personalities and moods can also lead to impulse shopping, retail therapy is real.  In an article in Psychology Today, ...

On Wednesday, January 31, 2024, Nigeria's currency, the naira, hit an all-time low, reaching 1,531 to the United States dollar on the official market. This development adds to the woes of the Nigerian economy, which has already seen the naira lose approximately 40% of its value since the beginning of the year. Data from FMDQ, a financial market infrastructure group, shows the naira closing at N1,482.57 per $1 on the official market, indicating a significant decline. Concurrently, the parallel market witnessed additional depreciation, with the dollar exchanging at N1,491.00  per $1. The Central Bank of Nigeria (CBN)   intervened to clear outstanding dollar backlogs,  resulting in a 10% depreciation from the preceding session. This decline underscores the ongoing challenge of dollar scarcity and increased demand beyond official channels. The significant depreciation of the naira carries broad economic implications. Enterprises dependent on foreign exchange will encount...