...news, reports, issues... about Lagos
The Naira on Tuesday crashed at the official market, trading at N1,416.57 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), showed that the Naira lost N62.36. This represents a 4.60 percent loss when compared to the previous trading date […]
ABUJA — Against the backdrop of continued shortages and queues at petrol stations, pump prices are now settling at higher ranges across independent marketers and some major marketers. Vanguard findings in Lagos and Abuja also show that gaps between prices at major marketers’ filling stations and those of independent marketers are widening with major marketers maintaining […]
The present harsh economy in the country has made Nigerians come to terms with the fact that even the rich also cry. The effect of the continuous pressure on prices of goods and services, as a result of the current harsh economy, has punched holes, and almost sucking dry, the pockets of many Nigerians, leaving […]
As fuel scarcity continues to bite harder in different locations, the Federal Government says it has begun a 15-day emergency fuel supply to ensure the commodity circulates across the length and breadth of the country. The government also disclosed that vessels importing Premium Motor Spirit would continue to berth at the shore to discharge petrol […]
Commercial banks in Nigeria closed 2.021 million bank accounts in the first quarter of 2024, Q1’24, to clean their books of questionable accounts and comply with regulatory orders on the linkage of bank accounts to the National Identity Number, NIN. This is contained in a report by the Nigerian Interbank Settlement System, NIBSS, which also indicated that […]
The naira yesterday, sustained its gain at the parallel market, and for the first time in one week gains also at the official window. At the Nigerian Autonomous Foreign Exchange (NAFEM) window, naira recorded gains as it closed at N1,390.96/$1 a N28.15 appreciation compared to N1,419.11/$1 it closed on Monday. By the end of trading […]
The Nigerian National Petroleum Company Ltd. has assured Nigerians that the ongoing fuel scarcity and queues will be cleared out by Wednesday, April 31. Mr Olufemi Soneye, Chief Communications Officer, NNPCL, told the News Agency of Nigeria (NAN) on Tuesday in Lagos. According to Soneye, the company currently has availability of products exceeding 1.5 billion […]
Petrol queues, crowded bus stops, traffic and hikes in transport fares have returned to most states in Nigeria with residents resorting to buying petrol in jerrycans, fondly referred to as ‘kegs’ as black market prices soar towards N1000 per litre. Findings by BusinessDay showed long lines of motorists snaking around petrol stations, some waiting for hours only to […]
LAGOS — The Independent Petroleum Marketers Association of Nigeria, IPMAN, said yesterday that the petrol scarcity currently spreading to more states across the country will take at least two weeks to normalise. This is even as the Nigerian National Petroleum Company Limited, NPCL insisted yesterday that it has adequate stock of the product. However, the Public Relations Officer […]
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 […]
