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Naira hits new record low amid dollar truggle

Despite Central Bank efforts, currency plunges below parallel market rates In a disconcerting turn of events, Nigeria’s naira has plummeted to a new record low during intraday trading on Thursday, as reported by FMDQ Exchange data. This decline occurred despite the central bank’s vigorous efforts to stabilize the currency by selling dollars and infusing liquidity into the market. The naira’s value sank as low as 1,851 against the dollar on the official market, a stark contrast to the approximately 1,800 rates observed in street trading. However, it managed to regain some ground, closing around 1,571 to the dollar, according to FMDQ data. Africa’s

Nigeria braces for double-barrelled rate hike to tame inflation, boost Naira

Brace yourselves, Nigerians! The nation stands on the cusp of two potentially aggressive interest rate hikes in quick succession, a Reuters poll revealed on Friday. This bold move aims to curb soaring inflation and bolster the battered naira currency. After a two-meeting hiatus, the Central Bank of Nigeria (CBN) is poised to hold its first monetary policy meeting on February 27th, under the leadership of Governor Olayemi Cardoso. Analysts predict a significant rate hike, with the median forecast pointing to a 225 basis point jump, pushing the rate to a staggering 21.00%. While the majority favours a hefty increase, opinions vary. One

Nigeria eyes growth despite challenges, President Tinubu reassures investors

President Bola Tinubu is determined to steer Nigeria through economic headwinds, emphasising his unwavering commitment to reforms and investments that support businesses and create opportunities for the growing population. "We are right in the middle of a challenging stage of our reforms. We have headwinds, no doubt, but we are not going back," he declared to a delegation from the Corporate Council on Africa (CCA). High inflation, declining currency, and subdued growth paint a challenging picture for Nigeria, with poverty levels projected to rise. However, the President highlighted positive steps like recovering oil production and policy reforms aimed at boosting non-oil revenue

The role 21st century booksellers play in realising SDG 4—quality, inclusive and equitable education

By Oreoluwa Lesi SDG4 focuses on education and aims to “ensure inclusive and equitable quality education and promote lifelong learning opportunities for all.” It includes seven targets, which cover eliminating disparities in accessing education at the early childhood and primary levels based on gender, ability, and other socio-economic factors and, as much as possible, encouraging all women and men to stay through to the tertiary level; ensuring that all youth and a large proportion of adults are literate and numerate; and ensuring that all learners can get the knowledge and skills needed to gain employment and contribute to sustainable development. When we

The Role of Worldreader in achieving SDG 4 – Inclusive, Equitable and Quality Education: The East African Perspective

By Joan Mwachi-Amolo (Kenya) Sustainable Development Goal 4 (SDG 4) aims to “ensure inclusive, equitable and quality education and promote lifelong learning opportunities for all.” Among its several core targets are universal youth literacy, early childhood development, universal pre-primary, primary and secondary education, and education for sustainable development and global citizenship. To reach SDG 4, unequal access to and quality of education must be fixed, and effective and inclusive learning environments must be created. It also requires supporting teachers, educators, and families as they facilitate learning. Tackling the Global Learning Crisis: The Transformational Power of Reading Reading is the foundation of all learning.

The Role of Libraries in realising SDG 4 – Inclusive, Equitable and Quality Education: The West African Perspective

By Nkem Osuigwe Libraries exist within the formal and informal sectors of the learning ecosystem. They are very important to learning in schools and in the different communities where they live all over Africa. They are critical for achieving an inclusive, equitable, and quality education where no one is left behind including those who are in employment and cannot attend school full-time and/or are taking online courses. They are also critical for those who have fallen through the cracks of the educational system as school dropouts at various stages of their educational journey or out-of-school children. Before School Age Public libraries introduce preschool

What to Do When You Are in the Pit

Psalm 40 These are very difficult and challenging times, but this should not come as a surprise to those who believe in Jesus Christ as their personal Lord and Saviour. In fact, Jesus told His disciples to expect trials. He begins John 16 by stating (John 16:1, 2), “All this I have told you so that you will not go astray. They will put you out of the synagogue; in fact, a time is coming when anyone who kills you will think he is offering a sacrifice to God.” He ends that chapter in a similar vein (16:33), “I have told

Social Media Etiquette for Business Owners

So you're about to start a business, probably having perfected a skill and are ready to start from where you are. It's a business you're starting from scratch with probably very little capital, so getting an office or shop space at the moment may not be ideal. Many started in their garage or a room set up for this purpose. And if it's food-based, then most likely, your kitchen. Before the business gets to the point where you start talking about a workshop, factory, or warehouse, there's a place you start showing up daily. This place is called social media, and many

Embarking on My Commuter Odyssey: Navigating Lagos Metro’s Blue Line Trail

By Oluwaseyi Artemis Alade The two trains run 74 trips daily from 6.30 am to 11 pm. Mile 2 to Marina and back. No cash. Only the Cowry card is used for payment at the entry point. You swipe it on the detector for the turnstile flaps to open. It immediately shows you how much you have left. You will need to swipe again at your arrival station before the final amount is deducted from your card. Purchase your Cowry card at the train station ticket offices and load it with money. I bought mine at the TBS BRT station for

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