...news, reports, issues... about Lagos
President Bola Tinubu said, on Sunday, that Nigeria would have gone bankrupt if his administration had not discontinued fuel subsidy payments. He said though the policy came with economic pains, it was in the best interest of Nigerians. Tinubu spoke at the Special World Economic Forum in Riyadh, Saudi Arabia. Upon assuming office last May, […]
There is no time the popular cliche: ‘no food for lazy man’, comes closer to the fore than in the daily life of every Nigerian, in these times. The economy is so telling on Nigerians that survival is more miraculous than strategic. However, Nigerians, known for resilience, are also strategically plotting to survive by any […]
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 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 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 […]
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 […]
According to Professor Chris Ogbechie, the Dean of the Lagos Business School, family businesses play a significant role in Nigeria’s economy, contributing up to $200 billion. He made this revelation during the Lagos Business School Family Business Conference held in Lagos. Despite their substantial contribution, Ogbechie noted that only about 30 per cent of Nigerian family businesses survive […]
The naira weakened for a third straight day at the official market (NAFEM) on Tuesday, sliding to a one-month low of N1,300 per US dollar, according to data by FMDQ Securities Exchange. Banking sources told BusinessDay that dollar liquidity has dipped on the back of investors exiting to safety in reaction to rising geo-political tensions that have […]
The Naira on Monday slightly depreciated at the official market, trading at N1,234.49 to the dollar. Data from the official trading platform of the FMDQ Exchange, a platform that oversees the Nigerian Autonomous Foreign Exchange Market (NAFEM), revealed that the Naira lost N64.50. This represents a 5.51 per cent loss when compared to the previous […]
