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Nigeria President Tinubu Set for Cabinet Reshuffle Ahead of October 1 Deadline
President Bola Tinubu is set to reshuffle his cabinet, according to Bayo Onanuga, Special Adviser on Information and Strategy. While no specific date has been announced, changes may occur before October 1st. The President urges ministers to better communicate their achievements to improve public... -
Nigeria Nigerian Anglican Leaders Slam Politicians, Including Tinubu, Over Widespread Corruption and Economic Hardship
The Anglican Church of Nigeria condemned corruption among political leaders, criticizing insensitive government policies causing severe hardship for citizens. In a recent meeting, church leaders expressed solidarity with protests against bad governance and called for a comprehensive... -
Nigeria CBN’s 27.25% Interest Rate Hike: How It Affects Inflation, SMEs, and the Naira
Nigeria's recent interest rate hike to 27.25% aims to curb inflation and stabilize the naira but poses challenges for businesses. The increased borrowing costs could reduce expansion and raise unemployment. Meanwhile, FX inflows may rise, stabilizing the naira, and savers benefit from higher...
Lagos State Governor Babajide Sanwo-Olu has declared Tuesday, August 20, 2024, a work-free day to celebrate Isese Day. This historic decision emphasizes the state's commitment to supporting traditional institutions and preserving cultural heritage, marking the first official recognition of the...
The Nigerian National Petroleum Company (NNPC) claims to sell petrol at half its landing cost, labeling the price difference as a “shortfall” rather than a subsidy. Critics argue this practice effectively constitutes a subsidy, raising concerns over transparency and economic impacts amid rising...
Atiku Abubakar urges President Tinubu to clarify the federal government's petrol subsidy policy and crude oil refining amid ongoing confusion. He criticizes the potential continuation of the subsidy despite previous claims of its removal, emphasizing the need for transparency to address...
The Nigerian National Petroleum Company (NNPC) Limited confirmed that the federal government owes it N7.8 trillion in petrol subsidy debts, reversing its earlier denial of subsidy payments. The announcement has sparked outrage among Nigerians, who accuse the government of deception and demand...
Vice President Kashim Shettima has defended President Bola Tinubu's economic policies, claiming he inherited a troubled economy from Muhammadu Buhari. Nigerians have criticized this stance, highlighting a pattern of blame-shifting among politicians and demanding accountability amid ongoing...
Paul Okoye questioned why he and his twin brother Peter Okoye couldn't maintain their brotherly bond despite their ongoing business disagreements. This statement follows recent accusations, including Peter's filing of a petition against their elder brother Jude. The family conflict continues as...
The Nigeria Police Force has summoned Joe Ajaero, President of the Nigeria Labour Congress (NLC), for questioning over allegations of terrorism financing and cybercrime. This follows tensions between the NLC and the government, exacerbated by a recent raid on the NLC headquarters, prompting...
![Today's Naira Rate[19-08-2024]: Black Market Dollar to Naira Rate Hits N1,610](/data/attachments/207/207391-3c34e1f818e0f6764b5946575243c176.jpg?hash=PERHMQHP25)
As of August 18, 2024, the black market exchange rate for the U.S. dollar to the Nigerian naira is N1,605 for buying and N1,610 for selling. In contrast, the Central Bank of Nigeria offers rates of N1,584 for buying and N1,585 for selling dollars.
As of August 18, 2024, the black market...
The Nigerian government will start naira-based crude oil sales to the Dangote Refinery on October 1, 2024. This initiative aims to strengthen the naira and stimulate domestic economic activities. Key stakeholders, including the Central Bank of Nigeria, will ensure a smooth transition and...
President Bola Tinubu has dismissed Jalal Arabi as Executive Chairman of the National Hajj Commission of Nigeria due to financial irregularities linked to the 2024 Hajj. Professor Abdullahi Saleh Usman has been nominated as his replacement, as the EFCC investigates alleged misconduct involving...
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