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Nigerians are protesting outside MTN offices due to widespread disconnections of phone lines over NIN linkage issues. A nationwide outage has been reported following the Nigerian Communications Commission's deadline extension. Many subscribers, including those with valid NIN links, face...
Fuel scarcity intensifies across Nigeria, with depots running dry and black marketers exploiting the situation. Motorists face long queues, with petrol prices skyrocketing to N1,300 per litre. The NNPC attributes the crisis to vessel discharge hitches and promises resolution, yet nationwide...
The Nigerian National Petroleum Company (NNPC) attributes recent petrol scarcity in Lagos and Abuja to discharge issues with several vessels. Efforts are underway to resolve the disruption and restore normal fuel supply. The scarcity follows a dispute between Dangote Refinery and NMDPRA over...
The Nigerian National Petroleum Company Limited (NNPC Ltd) has announced a recruitment drive for various positions. Despite a surge in applications causing portal slowdowns, the deadline remains August 20, 2024. This is NNPC's first recruitment since its transition to a limited company in 2022...
Guinness Nigeria Plc reported a pre-tax loss of N73.6 billion for the financial year ending June 30, 2024, primarily due to forex devaluation affecting its foreign currency loans. The brewery giant, recently acquired by Tolaram Plc from Diageo Plc, continues to face financial challenges amidst...
NAMA announces an 800% increase in air navigation charges, raising fees from N2,000 to N18,000 per flight and extension costs from N50,000 to N450,000. This move, driven by rising operational costs, is expected to lead to higher airfares for both domestic and international flights in Nigeria...
In his first year, President Tinubu's efforts to combat food inflation have faltered, with prices soaring dramatically. The cost of tomatoes surged by 320% from ₦547 to ₦2,302 per kilogram, and overall food inflation reached 40.66%, highlighting ongoing challenges in Nigeria’s economic...
The Federal Government's cash transfer scheme has resumed, benefiting over 600,000 households. Finance Minister Wale Edun announced this during a review briefing, highlighting ongoing economic reforms and efforts to address food prices and inflation. The government aims to enhance transparency...
![Today's Naira Rate[25-07-2014]: Naira Falls to Four-Month Low at N1,603.80/$1 Amid Increased Demand](/data/attachments/206/206496-8457c57119a478bc5717b11aa4a694ef.jpg?hash=hFfFcRmkeL)
Nigeria
Today's Naira Rate[25-07-2014]: Naira Falls to Four-Month Low at N1,603.80/$1 Amid Increased Demand
The naira fell to a four-month low of N1,603.80/$1 on July 25, 2024, marking a 1.07% drop from the previous day. Despite efforts by the Central Bank of Nigeria (CBN) to stabilize the currency through FX sales and support measures, demand pressure continues to affect the exchange rate.
On July...
![Today's Naira Rate[24-07-2014]: Naira Drops to N1,575/$ in Parallel Market as Trading Volume Declines](/data/attachments/206/206479-3c44473101cfdb95816e4fca0635f7db.jpg?hash=PERHMQHP25)
Nigeria
Today's Naira Rate[24-07-2014]: Naira Drops to N1,575/$ in Parallel Market as Trading Volume Declines
The Naira fell to N1,575 per dollar in the parallel market on Wednesday, down from N1,565. In NAFEM, it dropped to N1,586.71. Trading volume fell 39% to $171.03 million, and the gap between parallel and official rates narrowed. Experts await CBN's response to stabilize the currency.
On...
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