The IMF Pleads With FG for Reduction of Food Prices in Nigeria - 5 Things That Should Matter Today

• FG indefinitely postpones student loans

• Wuse Market in flames as mob sets cars on fire

• Dangote loses $8.9 billion to naira

• Bandits in Kaduna strike again, abduct 61

• The IMF pleads with FG for reduction of food prices in Nigeria

Across Nigeria's 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn't miss.

FG indefinitely postpones student loans

The Federal government has indefinitely postponed its launch of the Nigerian Students Loan Scheme.

According to the Executive Secretary of the Nigerian Education Loan Fund (NELFUND), Akintunde Sawyer, the loan scheme set for takeoff this week has been postponed again as some of its policies are being corrected.

"Unfortunately, I won't be able to commit to a specific date. We are waiting to ensure that all the stakeholders are aligned and that nobody is blindsided. We can roll this out in a meaningful, comprehensive, and sustainable way," he said.

Wuse Market in flames as mob sets cars on fire

An angry mob was raised in Wuse Market, Abuja, after witnessing the interaction between a man and a police officer who allegedly shot the man.

The police officer present in the famous Abuja Market was said to have shot the man because he tried to escape his sentence as he had earlier been charged and convicted.

The fire outbreak caused an early closure of the market, leaving people to panic and run to safety.

Dangote loses $8.9 billion to naira devaluation against the US Dollar

Despite the positive earning record of $50.9 million made within 24 hours, Aliko Dangote has allegedly lost $8.9 billion to naira's weakness against the US dollar.

According to Bloomberg, Aliko Dangote,  the wealthiest man in Nigeria and Africa, has lost $8.9 billion due to the volatility of the Nigerian currency against the US dollar, causing his peak net worth to fall drastically below $15 billion.

Dangote was hit heavily when the share price of Dangote Cement was reduced from the Nigerian Exchange (NGX), adding to the cause of his wealth decline.

Bandits in Kaduna strike again, abduct 61

A week after abducting over 280 students and teachers in Kaduna state, bandits have once again returned to kidnap 61 residents in the state, bringing the number of missing people to over 300.

The criminals set foot in Kajuru town, Kaduna and left with 32 women and 29 men.

Hon. Usman Danlami Stingo, a member of the State House of Assembly, confirmed the incident yesterday as he claimed the bandits had walked into the Buda Hausa Community in the early hours of March 12 to perpetrate their plans.

The IMF pleads with FG for reduction of food prices in Nigeria

The International Monetary Fund (IMF) has contacted the Nigerian government, urging that they reduce the prices of food items in the country.

Since the country's inflation rose, residents have found it hard to meet the increasing food prices, leading to starvation.

The IMF has requested that the federal government intercede in this issue by reducing the prices of food items, transport, and drugs, as these are basic needs of the citizens.

According to the IMF's Director of Communications, Julie Kozak, the FG need only implement the social protection measures.