With the oil price below $60 per barrel and with the significant collapse of Nigeria’s oil market as a result of the US’s zero importation from Nigeria since July 2014, it is clear that the Nigerian economy is facing a serious crisis. This situation has been made even more serious by the fact that the crisis comes at a time when Nigeria’s foreign reserves stand at less than $34billion.

Boko Haram has carried out a number of suicide bomb attacks, such as the one that took place in Maiduguri in northern Nigeria earlier this week, in which 78 people were killed. Over the last four years, suicide bombings have become one of the avowed weapons of the right-wing Boko Haram insurgency campaign in Nigeria, especially in the northern part of the country. Musa Atiku explains the background to all this.

As a result of the increased domestic production of shale oil, the US has slashed crude oil imports from a peak of almost 14 million barrels per day in 2006, to slightly above 7 million barrels per day. Crude oil imports from Nigeria, one of the principal sources of light crude, were also slashed from more than one million barrels per day in 2010 to zero in July 2014. This figure is unprecedented since Nigeria started exporting oil about 40years ago.

In 1998 a number of students were arrested at the University of Ilorin for organising protests against hikes in student fees. They were held in prison for over a month and this website campaigned for their release at the time. One of the students involved in that struggle was Rasheedat Adeshina, a leader of the student union. The price she paid for daring to protest was that although she passed all her exams brilliantly, her degree certificate was never released by the authorities. It has taken 14 years, but finally she has won.

The dramatic events that have unfolded in this country in the past few weeks – among them the abduction of over 300 schoolgirls by Boko Haram – confirm more than ever the complete impotence of the inept and extremely corrupt Nigerian ruling class, and also the rottenness of the country's armed forces, in the face of the insurgency.

On February 27, 2014, the Boko Haram sect entered into a Federal Government Secondary school in Yobe and massacred over 60 harmless and innocent school children in their sleep.  It was reported that the army stationed to protect the young students walked away from the gate a few minutes before the attack took place.

The crude dismissal of the Governor of Central Bank of Nigeria, Sanusi Lamido by the Goodluck regime on February 20 shocked many. It is technically a dismissal in spite of the claim of suspension pending investigation. The overwhelming majority can clearly see that this is the price for blowing the whistle on the massive looting taking place in the oil sector and an intensification of the intra-class conflicts going on within the Nigerian ruling class.

The 2015 General election is expectedly taking the centre stage in the public discourse as the date approaches. For a significant section of the advanced layer of the youth and working class, the coming election is being awaited with lot of scepticism; but for the overwhelming majority of Nigerian masses, attention is being drawn gradually towards this electoral event, which has been slated to commence on February 14, 2015.

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