As of 7th September 2024, the black market exchange rate for the dollar to naira in Lagos shows that players are buying dollars at N1670 and selling at N1680. Despite these rates, the Central Bank of Nigeria (CBN) has emphasized that it does not recognize the parallel market, urging individuals to approach their banks for official foreign exchange transactions.
Title: Nigeria Approves First Floating LNG Plant, Expected to Produce 2.8 Million Tons Annually
Nigeria has granted its first license for the construction of a floating liquefied natural gas (LNG) facility. The project, led by UTM Offshore Limited, is expected to produce 2.8 million metric tons of LNG annually by 2028, utilizing gas reserves in Akwa Ibom State, Niger Delta. This initiative aligns with Nigeria’s efforts to maximize its vast gas resources.
