Nigeria’s oil output has decreased by 27.4% over the past decade, primarily due to pipeline vandalism, oil theft, illegal refining, and insufficient investment. As of July 2024, the nation’s oil production stood at 1.4 million barrels per day (bpd), down from 1.9 million bpd in July 2014, according to data from the Organisation of Petroleum […]
Category archives: News
Dollar to Naira: Black Market Exchange Rates for 31st August 2024
As of 31st August 2024, the U.S. dollar to Nigerian naira exchange rate in the black market, also known as the parallel market, has seen slight changes. According to sources at Bureau De Change (BDC), in Lagos, the dollar is being bought for ₦1630 and sold for ₦1645. It’s important to note that the Central […]
Shehu Sani Advocates for Southern Presidency in 2027, Urges North to Wait Until 2031
In a recent interview, Senator Shehu Sani, who represented Kaduna Central in the 8th Senate, shared his thoughts on President Bola Tinubu’s potential re-election bid in 2027. Sani argued that the southern region should take the lead in the 2027 elections, while the North should wait until 2031 to produce the next president. Sani highlighted […]
Rivers Assembly Confirms Fubara’s Appointees Led by Lawrence Oko-Jaja
The Rivers State House of Assembly, under the leadership of Speaker Victor Oko-Jumbo, has screened and confirmed Lawrence Oko-Jaja, SAN, as the Chairman of the Board for the Rivers State Bureau on Public Procurement (RSBoPP). The confirmation took place during a plenary session held at the Hallowed Chamber of the Assembly, situated within the Administrative […]
NSCDC’s Agro-Rangers, Mining Marshals: Combating Insecurity, Promoting Economic Growth-CWAI
A civil society and pressure group, non-profit and anti-corruption organization, Citizens Watch Advocacy Initiative (CWAI) has lauded and commended the Agro-Rangers Initiative, enhanced by the present Commandant-General of the Nigerian Security and Civil Defence Corps (NSCDC), Dr Ahmed Abubakar Audi, across the country to boost food security in order to make food available and allow […]
VP Kashim Shettima Urges Strengthened Nigeria-EU Ties to Address Humanitarian Challenges
Vice President Kashim Shettima has emphasized the importance of deepening the relationship between Nigeria and the European Union (EU) to tackle pressing issues such as malnutrition and other humanitarian challenges. Shettima made these remarks during a courtesy visit by an EU delegation led by the outgoing EU Ambassador to Nigeria and ECOWAS, Samuela Isopi, at […]
Sen. Emma Nwaka Resigns from Abia PDP, Cites Personal Reasons
Sen. Emma Nwaka, a founding member of the Peoples Democratic Party (PDP) in Abia State, has officially resigned from the party. His decision was announced on Thursday through a resignation letter titled “Time for me to quit.” In his letter, Nwaka expressed that his departure was the result of thoughtful reflection on his political journey. […]
NNPC to Transfer Warri and Kaduna Refineries to Private Operators
The Nigerian National Petroleum Company Limited (NNPCL) has announced its plans to hand over the operations and maintenance of the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company to private operators. The NNPCL is seeking to engage reputable and credible Operations and Maintenance companies to take on the responsibility of running […]
BUA Cement’s Price Reduction Plan Thwarted by Dealers, Says Chairman Abdul SamadRabiu
AbdulSamad Rabiu, the Chairman of BUA Cement, has disclosed that the company’s efforts to reduce cement prices to ₦3,500 per bag last year were frustrated by cement dealers. Speaking at BUA Cement’s 8th Annual General Meeting in Abuja, Rabiu expressed his disappointment over the failure to pass on the intended savings to consumers. Rabiu revealed […]
Dollar-Naira Exchange Rates and Rising Domestic Airfares in Nigeria: A 30th August 2024 Update
As of 30th August 2024, the exchange rate for the U.S. dollar to the Nigerian naira on the black market (parallel market) in Lagos is as follows: Please note that these rates can vary depending on the location and the dealer. Additionally, the Central Bank of Nigeria (CBN) does not recognize the black market rates […]