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 Read More…
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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 Read More…
Akpata claims Labour Party ticket for Edo Governorship race, vows good governance
Former Nigerian Bar Association president Olumide Akpata sailed to victory in the Labour Party’s primary election, securing the party’s nomination for the upcoming Edo governorship election scheduled for September 21st. Akpata garnered a convincing 316 votes, leaving his closest contender, Kenneth Imansuangbon, far behind with just seven votes. Professor Sunday Eromosele and Sergius Ogun managed Read More…
Hello, Lagosians! Dive into Easter festivities with the city’s dazzling boat regatta
Hold onto your hats, Lagosians, because Easter is about to get a whole lot more exciting! The Lagos State Ministry of Tourism, Arts, and Culture is inviting residents to embark on an unforgettable aquatic adventure—the Lagos Boat Regatta. This Easter celebration promises a vibrant blend of cultural immersion, thrilling competition, and a chance to rediscover Read More…
Lagos launches multi-pronged attack on economic hardship, unveils relief package for residents
As the grip of economic hardship tightens on Nigerians, Lagos State Governor Babajide Sanwo-Olu has emerged as a beacon of hope, unveiling a comprehensive relief package designed to shield residents from the harshest blows. Recognising the multifaceted nature of the challenges, the governor’s plan tackles issues ranging from transportation costs and food insecurity to education Read More…
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 Read More…
Federal Government to continue Third Mainland Bridge rehabilitation
The Federal Government has confirmed the continuation of rehabilitation works on the Third Mainland Bridge starting Thursday, as announced by the Federal Controller of Works in Lagos State, Mrs. Olukorede Kesha, in a statement released on Wednesday in Lagos. Expressing understanding for the inconvenience caused by traffic diversions, Kesha appealed for patience and cooperation from Read More…
NBS reports drop in kerosene prices amidst increase in petrol imports
The National Bureau of Statistics (NBS) reveals a decline in the average price of a litre of kerosene from N1,362.27 in December 2023 to N1,329.53 in January 2024, according to its “Kerosene Price Watch” released in Abuja on Wednesday. Highlighting the statistics, the NBS emphasises a 2.40% decrease in the January price compared to the Read More…
Labour Party Chairman arrested Days before Edo Governorship primary
Less than three days remain until the primary election of the Labour Party (LP) for the Edo Governorship race, and tension rises as operatives from the Zone 5 headquarters of the Nigeria Police apprehend the National Chairman of the party, Mr. Julius Abure. According to the News Agency of Nigeria (NAN), Abure was detained in Read More…
Verstappen leads pre-season testing in Bahrain despite Red Bull uncertainty
On Wednesday, amidst uncertainty surrounding Red Bull team boss Christian Horner, triple world champion Max Verstappen demonstrated his dominance, leading the way as Formula One kicked off pre-season testing in Bahrain. The 26-year-old Dutch driver, known for his remarkable performances, expressed his determination early on, setting the pace for the testing sessions ahead. Verstappen’s supremacy Read More…