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Everything You Need to Know About the NDDC Youth Internship SchemeI want to apply
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President Bola Tinubu has sacked Chioma Ejikeme, appointing Tolulope Odunaiya as the new Executive Secretary of the Pension Transitional Arrangement Directorate (PTAD). Odunaiya, who assumed office on November 18, 2024, pledged to improve pensioners' welfare and align with the "renewed hope"...
Nigeria
Fuel Prices Set to Drop as Dangote Refinery Partners with IPMAN for 60M Litres Weekly Supply
Dangote Refinery and IPMAN have signed a deal to supply 60 million litres of petrol weekly, leading to price reductions at filling stations. The agreement, which aims to stabilize fuel prices in Nigeria, is expected to bring down prices by N10 to N50 per litre.
Dangote Refinery and the...
The IMF's latest report reveals that Nigeria's economic reforms under President Tinubu are failing to produce the desired results, with inflation remaining high and the exchange rate unstable. Despite regional improvements, Nigeria faces significant challenges in economic growth, debt service...
Nigeria's external debt is expected to hit $45.1 billion by 2024's end, with a recent $2.2 billion borrowing plan approved. The rise in external debt reflects fiscal measures amidst economic reforms, while the naira's depreciation has amplified local currency debt burdens, raising concerns over...
The World Bank uncovered $32 million in unaccounted funds from Nigeria’s water project, as revealed in its FY2024 Sanctions System Annual Report. The missing funds were meant for water infrastructure development. The bank is working with Nigerian authorities to recover the amount and ensure...
![Today's Naira Rate[16-11-2024]: Nigerian Naira Faces Steep Decline, Parallel Market Hits N1,750/$](/data/attachments/210/210283-5e995ef978efd380c57591c54b3dddf2.jpg?hash=FHqxQvjPSE)
Nigeria
Today's Naira Rate[16-11-2024]: Nigerian Naira Faces Steep Decline, Parallel Market Hits N1,750/$
The naira failed to hold the N1,650/$ support line in the official market, closing at N1,652.25/$1. Despite Nigeria’s growing foreign exchange reserves, the currency remains weak due to factors like inflation, low oil production, and high demand for U.S. dollars, contributing to rising import...
NNPCL denies rumors that Group CEO Mele Kyari is stepping down, calling the speculation baseless. A spokesperson praised Kyari's leadership in driving the company's profitability and achieving a major production milestone. Despite a leadership restructuring, Kyari remains focused on advancing...
Nigeria
MultiChoice Faces Financial Setback as $21 Million Is Forfeited Due to Heritage Bank’s Collapse
MultiChoice forfeited a $21 million deposit with Heritage Bank after the bank's liquidation in 2024. The loss is part of the company's financial challenges in Nigeria, including a drop in cash remittances and subscriber losses, worsened by inflation and naira devaluation.
MultiChoice Group has...
The Federal Airports Authority of Nigeria (FAAN) will shut down power at Murtala Muhammed International Airport's International Terminal 2 on Saturday from 1 AM to 4:30 AM for maintenance. The planned power outage aims to replace the Bus Riser 11KVA high-tension panel with minimal impact on...
Nigeria’s inflation rate soared to 33.88% in October 2024, up from 32.70% in September, according to the NBS. Food inflation also jumped to 39.16%, driven by rising costs of staples like rice and yams. The economic pressure sparks concerns, with citizens calling for urgent fiscal reforms...
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