Category: Market
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Naira crashes to N1,700 against dollar in black market
The naira depreciated against the dollar at the foreign exchange market to end the week on a negative note. FMDQ data showed that the naira weakened to N1641.27 per dollar on Friday from N1622.57 exchanged on Thursday, recording N18.7 loss. Meanwhile, the black market remained flat at N1700 per dollar on Friday, the same exchange…
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As Naira Gains, Builders, Estate Developers Reveal Update On Cost of Construction
By Miracle Ogunde As the Nigeria currency, naira continues to gain stronger against the United States Dollar both at official and parallel market, Nigerians expect that the prices of foodstuffs and other commodities would drop so as to ease the hardship facing the country. In regards to this, the building sector has continued to witness…
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Lagos launches ‘Ounje Eko’, discounted prices for residents (See Full List)
Lagos Governor, Babajide Sanwo-Olu, has inaugurated ‘Ounje Eko’ food markets to offer discounted prices of items to residents. He directed that the food markets should start operations from Sunday, March 17 across the state. The markets have been tasked with selling discounted food items across the five divisions. The markets have been tasked with selling…
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NANS Calls for suspension of NLC, TUC proposed strike
The National Association of Nigerian Students, NANS, has appealed to the Nigeria Labour Congress(NLC) and the Trade Union Congress(TUC) to suspend their proposed strike in the interest of the nation. NANS National President, Mr Pedro Obi, made the appeal at a news conference in Abeokuta on Saturday. The NLC and TUC…
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Tinubu Should have Waited Six Months Before Removing Petrol Subsidy– Prof Sagay
A Senior Advocate of Nigeria, Prof Itse Sagay, says President Bola Tinubu should have waited six months after his inauguration before removing subsidy on Premium Motor Spirit (PMS) also known as petrol. He made this known during a conversation around the future of Nigeria. The senior lawyer was a guest on Inside Sources with Laolu…
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CBN stops granting loans to Federal Government
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the apex bank will halt its Ways and Means loans to the Federal Government. Cardoso made this known on Friday while appearing before the Senate Committee on Banking, Insurance and other Finance Institutions, in Abuja. According to Cardoso,…
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BUA unveils plans to crash cement price from N5,000 to N3,500 per bag
There are assurances of a significant reduction in the price of cement in the coming weeks. This is as the chairman of BUA Group, Abdul-Samad Rabiu, has said that the company is set to reduce the price of cement in Nigeria. Rabiu disclosed this on Friday while speaking with journalists after meeting with President Bola…
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Nigerians Drag Dangote Over Reported Differences of Cement Price Across African Countries
Aliko Dangote, Africa’s richest man, is facing mounting criticism from Nigerians questioning the fairness of his business empire. With a total of 15,200 tweets at the time of this report, Nairametrics reports that Dangote Group’s leader has come under public scrutiny for the reported disparities in the prices of his cement products across Africa. According…
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Five Reasons Naira is Depreciating
The question in the minds of Nigerians today is why is the Naira depreciating or why is the exchange rate of the dollar rising rapidly? This is a valid question given the sharp and persistent depreciation of the Naira since June 14 when the Central Bank of Nigeria, CBN announced new operational measures in…
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SHOCKING: Trader finds human penis in food bought from vendor in Lagos
Tension gripped traders at the popular Alaba International Market, Ojo, Lagos, last week Friday, when one of the traders found a human-like penis inside a food she bought from a vendor in the market. Following the strange discovery in her plate of soup, the middle-aged woman identified as Ebere, at GBO Plaza, in the market,…