Abdulsamad Rabiu graces Forbes Africa cover for the month of May

To mark International Workers' Day, anti-poverty NGO Oxfam has released analysis showing that between 2020 and 2023, shareholders saw their dividend payments increase by 45 percent while workers saw their wages increase by just 3 percent.

The devaluation of the naira against the dollar has plunged Nigerians into a deep socio-economic depression. The price of basic foodstuffs can double or even triple in the same day.

The US Federal Reserve has decided to keep its benchmark interest rate steady at 5.25 to 5.50 percent. Fed Chairman Jerome Powell said while inflation has eased significantly over the past year, it's still too high, and that while wage growth has slowed down, the labour market remains tight.