Lagos residents can breathe a sigh of relief as the rehabilitation of the vital Third Mainland Bridge nears completion. Minister of Works, Sen. Dave Umahi, announced during a recent infrastructure project tour that only minor work remains before the bridge reopens to the public. “The main construction work is finished,” declared Umahi. “We’re just focusing Read More…
Lagos residents looking to stock up on discounted groceries ahead of Easter can rejoice! Governor Babajide Sanwo-Olu has announced the “Ounje Eko” Sunday Market will be held this Friday, March 29th, in the spirit of the Easter celebration. “We understand the importance of affordability during this festive period,” Commissioner for Information and Strategy Gbenga Omotosho Read More…
In a recent development, the Nigerian Naira experienced a minor depreciation in the official market, with an exchange rate of N1,309.39 to a dollar on Thursday. The Naira lost N8.96 or 0.69 percent compared to the previous day’s rate of N1,300.43 against the dollar. This slight decline reflects the currency’s fluctuation in response to market Read More…
Nigeria’s trade picture for Q4 2023 shows a mixed bag, according to the National Bureau of Statistics (NBS) report on Commodity Price Indices and Terms of Trade. While export prices edged up, import costs rose at a faster pace, leading to a slight decline in the overall terms of trade. “The All-commodity group export price Read More…
In a significant move, the Central Bank of Nigeria (CBN) has introduced new minimum capital requirements for banks, aiming to bolster their financial stability and enhance their capacity to support the Nigerian economy. Here are the key details: New Capital Thresholds: Implementation Timeline: Strategies for Compliance: The CBN encourages banks to explore various avenues to Read More…
