Troops of the Nigerian Army have intercepted trucks suspected of transporting prohibited goods to the Republic of Cameroon. The trucks, each loaded with 600 50kg bags of cement, were showcased to journalists at the Nigeria Police headquarters in Yola, the capital of Adamawa State, on Friday. Adamawa State Governor, Ahmadu Fintiri, had issued an Executive…
Labour unions have declared their intention to organize a nationwide mass protest to draw attention to the prevalent economic hardship experienced by Nigerians. The decision to stage the protest stems from the escalating economic challenges plaguing the country, including soaring inflation rates, increased cost of living, and widespread unemployment. These issues have significantly impacted the…
Once again, on Wednesday, February 14, the Central Bank of Nigeria (CBN) revised the Customs exchange rate from N1444.56/$1 to N1,481.482/$1. This latest adjustment represents an increase of N36.922, equivalent to 2.56 percent, compared to the previous increment. Remarkably, this marks the fifth adjustment within a span of 12 days and the ninth since the…
The UK economy has officially entered a recession following two consecutive quarters of negative economic growth in the latter half of last year. According to the Office for National Statistics (ONS), gross domestic product (GDP) contracted by a larger-than-anticipated 0.3% in the three months to December, following a 0.1% decline between July and September. Expectations…
Similar to the Central Bank of Nigeria (CBN) and the Federal Airports Authority of Nigeria (FAAN), the Nigerian Upstream Petroleum Regulatory Commission is contemplating relocating some of its units to Lagos state. In a circular dated February 14, 2024, the agency stated that the decision is motivated by the desire to improve service delivery, lower…
On Monday, February 12th, 2024, the official NAFEM market saw the closing exchange rate between the naira and dollar hit N1,534/$1, marking the weakest performance ever recorded for the naira against the dollar at the end of a market session, according to reports from Nairametrics. Throughout the day, the intra-day high and low values stood…
Herbert Wigwe, the Chief Executive Officer of Access Holdings, and his wife, Chizoba, tragically lost their lives in a helicopter crash in California on Friday night, February 9. Reports indicate that the helicopter was en route to Las Vegas when it crashed near Boulder City, situated between Nevada and California. The San Bernardino Sheriff’s Department…
The Nigeria Labour Congress (NLC) and the Trade Union Congress of Nigeria (TUC) have jointly issued a 14-day ultimatum for a nationwide strike to the Federal Government. This ultimatum comes in response to the government’s failure to fulfill the 16-point agreement reached with organized labour (NLC and TUC) on October 2, 2023. Despite the diligent…
The Nigerian National Petroleum Corporation Limited (NNPCL) has refuted rumors of any intention to raise the price of Premium Motor Spirit (PMS), commonly referred to as petrol. In a statement released on Thursday, February 8, the Chief Corporate Communications Officer of NNPCL, Olufemi Soneye, urged Nigerians to refrain from engaging in panic buying of petrol.…
Justice Ambrose Lewis-Allagoa of the Federal High Court, Ikoyi, Lagos State, has issued a directive compelling the federal government to establish price regulations for various goods and petroleum products within a seven-day period. The judge’s ruling came in response to a motion presented and argued by Femi Falana SAN, a respected human rights activist. Falana…
