...news, reports, issues... about Lagos
...news, reports, issues... about Lagos
The value of the Naira continued to depreciate at the official end of the market, closing on Thursday at N1,309.88 to one dollar, a 12 per cent week to date decline on the Nigeria Autonomous Foreign Exchange Market (NAFEM). As against N1,169.99 which it closed last week on the market, the value of the naira […]
The Federal Competition and Consumer Protection Commission (FCCPC) has warned that discrimination against any person in Nigeria, whether by foreigners or locals, is illegal and unacceptable.This warning follows the agency’s investigation into allegations of discrimination at a Chinese supermarket located within the premises of the China General Chamber of Commerce, Airport Road, Abuja. Director of […]
Telecommunications operators in the country including MTN Nigeria and Globacom have asked for Federal Government approval through the Nigerian Communications Commission to raise their tariff. The development came after foreign exchange losses and rising energy costs forced some of the operators to post losses last year. The telcos’ proposal to raise their tariff came barely […]
The average cost of preparing a pot of jollof rice for a Nigerian family of five rose more than four-fold in almost eight years largely as a result of the depreciation of the naira, according to a new Jollof Index report. This means a minimum wage earner in the country can only cook jollof once a month […]
Prices of essential food items have gone up by at least 30 per cent between December and April in at least eight states, according to surveys by our correspondents. The development has made consumers groan, saying the hikes in the prices of goods have affected their budgets. Prices of food items have continued to soar […]
President Bola Ahmed Tinubu has approved the takeoff of the first phase of the Consumer Credit Scheme for workers across the country. Consumer credit serves is the lifeblood of modern economies, enabling citizens to enhance their quality of life by accessing goods and services upfront, paying responsibly over time. It facilitates crucial purchases, such as […]
Lagos State Governor, Babajide Sanwo-Olu, has flagged off the “Eko Cares” Initiative, a social intervention programme aimed at lessening the burden on residents amid economic hardship. A total of 300,000 households are expected to benefit from the inaugural programme. Beneficiaries are cut across 20 Local Government Areas, and 37 Local Council Development Areas, LCDAs, of the state. […]
Experts and stakeholders in the aviation sector have described the order by Festus Keyamo, minister of aviation and aerospace development, on the suspension of Dana Air as unprofessional and an interference on safety processes and procedures. In a letter by Emmanuel Meribole, Permanent Secretary, the ministry of aviation and aerospace development to the NCAA, he noted that […]
The naira weakened for a fourth straight day at the official market (NAFEM) on Wednesday, sliding to a low of N1,308 per US dollar, according to data by the FMDQ Securities Exchange, as dollar supply thinned. The naira also fell on the black market despite the CBN’s dollar sales to BDCs on Monday. A dollar sold for N1,350/$ in […]
Adebayo Adelabu, Nigeria’s Minister of Power says the President Bola Tinubu’s administration is ready to break over 60-year-old power jinx bedeviling the nation. He said the importance of power to economic growth and industrial development of any nation could not be overemphasized as no sector could actually perform optimally without stable, effective, functional and cost […]
