Today’s Exchange Rates As of November 12, 2024, the dollar-to-naira rate in the Lagos black market stands at N1730 for buying and N1740 for selling. These rates are sourced from Bureau De Change (BDC) operators. Please note that the Central Bank of Nigeria (CBN) does not officially recognize the parallel market. For foreign exchange needs, […]
Category archives: News
Top Nigerian News Highlights for Wednesday, November 13, 2024
1. Tinubu Directs State Funeral for Late Army Chief LagbajaPresident Bola Tinubu has ordered a state burial for the late Chief of Army Staff, Lt. Gen. Taoreed Lagbaja. The announcement was made during a condolence visit by Major General Kamal Yusuf, who shared details of the upcoming ceremony at the National Military Cemetery in Abuja. […]
UK Announces 45,000 Seasonal Worker Visas for 2025 to Address Labour Shortages
The UK government has introduced 45,000 Seasonal Worker visas for 2025 to alleviate labour shortages in the agricultural and poultry sectors, essential for food production during peak seasons. This program includes 43,000 visas for horticultural roles such as fruit picking, vegetable harvesting, and flower cultivation, and 2,000 visas for poultry processing jobs available from October […]
Dangote Refinery Plans Direct Fuel Supply Partnership with PETROAN
The Dangote Refinery is preparing for a strategic meeting with the Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) to discuss a direct fuel supply partnership. This move aims to eliminate intermediaries, following a recent agreement between Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN). According to Joseph Obele, PETROAN’s Publicity […]
Court of Appeal Forms Special Panel for Rivers Political Disputes
The Court of Appeal in Abuja has established a special three-member panel to address the increasing number of political disputes emerging from Rivers State. This action follows a political rift between the current governor, Siminalayi Fubara, and his predecessor, Nyesom Wike, who now serves as the Minister of the Federal Capital Territory. The feud has […]
Edo Deputy Governor Shaibu Speaks on Alleged Fleeing of Governor Obaseki
Philip Shaibu, the outgoing Deputy Governor of Edo State, has addressed rumors regarding the alleged fleeing of Governor Godwin Obaseki ahead of the governor’s transition to a new administration. Obaseki’s tenure officially ended on November 11, 2024, and he was set to hand over power to Monday Okpebholo of the All Progressives Congress (APC), the […]
Tinubu Govt Plans Major Tax Reforms with Single-Digit System for Nigerians
The Nigerian government, under President Bola Ahmed Tinubu, is moving towards a major overhaul of the nation’s tax system. The new proposal, being discussed by the Presidential Committee on Fiscal and Tax Reforms, aims to introduce a single-digit range tax structure to reduce the burden of multiple taxes on citizens and businesses. Taiwo Oyedele, the […]
Soaring Food Prices in Nigeria: A Look at the Cost of Essentials This Week
Nigerians are facing a steep increase in the prices of essential food items, with many attributing the surge to recent policies implemented by President Bola Tinubu’s administration. Over the past few months, the prices of staples like beans, rice, palm oil, and tomatoes have sharply risen, creating financial strain for households across the country. The […]
Top Headlines from Nigerian Newspapers | Tuesday, November 12, 2024
Here’s a look at the major stories making front-page news in Nigerian national newspapers on Tuesday, November 12, 2024. The PUNCH: The Independent Petroleum Marketers Association of Nigeria (IPMAN) has secured a landmark agreement with Dangote Petroleum Refinery, allowing IPMAN to lift products directly from the refinery. This arrangement, according to IPMAN’s National President, Abubakar […]
Naira Expected to Reach ₦1,993/$1 by 2028, Raising Concerns for Nigeria’s Healthcare Sector
A recent report from BMI, a Fitch Solutions subsidiary, projects that the naira could depreciate to ₦1,993 per U.S. dollar by 2028, posing substantial risks for Nigeria’s pharmaceutical and medical device industries. With over 95% of its medical devices imported, Nigeria’s healthcare sector may struggle under increasing costs due to the weaker currency. The report, […]