The Naira appreciated against the Dollar at both the official and black market foreign exchange rates to start the week. According to data from FMDQ, the Naira strengthened to N1,580.46 per Dollar on Monday, up from N1,593.32 last Friday. This represents a gain of N12.86 against the Dollar compared to last week’s close. In the parallel market, the Naira also gained ground, appreciating by N15 on Monday to trade at N1,655 per Dollar, down from N1,670 last week. This appreciation comes as foreign exchange transaction turnover fell to $197.37 million on Monday, compared to $245 million recorded at the end…
Author: Editor Francis
The National Security Adviser (NSA), Mallam Nuhu Ribadu, has expressed concern over the increasing smuggling of petroleum products out of Nigeria, warning that the practice is exacerbating economic instability, particularly in the foreign exchange market. Ribadu made the remarks during a stakeholder engagement in Abuja, organised by the Nigeria Customs Service as part of *Operation Whirlwind*, a campaign to curb the illegal export of fuel. The NSA emphasised that the nation’s economic challenges are closely tied to smuggling and that urgent action is needed. “We have been suffering due to smuggling, and if we want to address our economic problems,…
The National Association of Nigerian Students (NANS) has called for an increase in student upkeep allowance from N20,000 to N40,000 following the hike in the price of fuel. The NANS Senate President, Babatunde Akinteye, disclosed this during a news conference on the state of the nation in Abuja on Monday. Akinteye said that this adjustment was necessary to help students cope with the rising cost of living while ensuring that they continue to pursue their education without undue financial strain. He also urged the Federal Government to reduce excessive government spending. He said that at a time when Nigerians were…
The National Union of Electricity Employees (NUEE) has placed its members on high alert, signaling the possibility of a nationwide strike following the arrest of Joe Ajaero, President of the Nigeria Labour Congress (NLC), by the Department of State Security (DSS). In a statement released on Monday, Acting General Secretary Igwebike Dominic called for Ajaero’s immediate and unconditional release, warning of potential disruptions to the national power grid if their demands are not met. “Nigeria is our collective country; our leaders should not make us live like slaves who cannot express themselves,” the NUEE stated. “We demand the unequivocal and…
The Nigeria Labour Congress (NLC) convened an emergency closed-door meeting on Monday in response to the arrest of its National President, Joe Ajaero. Ajaero was arrested by operatives of the Department of State Services (DSS) at the Nnamdi Azikiwe International Airport, Abuja, while en route to the United Kingdom to attend the Trade Union Congress (TUC) of Britain. In a statement, NLC spokesperson Benson Upah condemned the arrest, asserting the union’s commitment to defending workers’ rights. The statement read in part: “The NLC remains resolute in its commitment to protecting workers’ rights and will not be cowed by the oppressive…
Joe Ajaero, the President of the Nigeria Labour Congress (NLC), was arrested by operatives of the Department of State Services (DSS) on Monday morning. The arrest took place at Nnamdi Azikiwe International Airport in Abuja as Ajaero was preparing to board a flight to the United Kingdom. Ajaero was en route to London for the Trade Union Congress conference, which starts today. The reasons behind his arrest remain unclear, and further details are awaited. Stay tuned for more updates on this unfolding story.
Nigerian comedian and entertainment figure, Gbenga Adeyinka, has advised young presidential candidates in the 2023 general elections to focus on contesting for Senate and House of Representatives seats. Adeyinka, in a podcast interview with TheCable over the weekend, suggested that prominent candidates like Peter Obi of the Labour Party, Omoyele Sowore of the African Action Congress, Kingsley Moghalu, and other aspiring leaders would make a significant impact by helping to reform Nigeria’s legislative framework. According to Adeyinka, having these political figures in the National Assembly would place a check on presidential powers and help rewrite the country’s laws. He argued…
Nigerians in the Federal Capital Territory (FCT) are facing challenges locating the sales points for the N40,000 subsidised rice recently launched by the Federal Government. The initiative, which was officially flagged off on September 5, 2024, by the Minister of Agriculture and Food Security, Senator Abubakar Kyari, aimed to sell 30,000 metric tonnes of milled rice at a reduced price of N40,000 per 50kg bag. During the launch in Abuja, Senator Kyari emphasised that the programme reflects President Bola Tinubu’s commitment to ensuring food security and preventing hunger among Nigerians. He acknowledged the difficulties contributing to rising food prices, citing…
Prominent socio-cultural organisations in Nigeria, including Ohanaeze Ndigbo, Afenifere, and the Arewa Youth Consultative Forum, have issued stern warnings to the federal government, urging it to revert the recent increase in the Premium Motor Spirit (PMS) pump price. The groups, in separate interviews with DAILY POST on Saturday, expressed concerns over the severe consequences of failing to reverse the price hike. Nigerians were shocked on Tuesday by a sudden rise in fuel prices, with the pump price soaring from around N600 to over N855 per litre. In some states, fuel is now sold at prices as high as N1,400, further…
A devastating accident along the Agaie-Bida road in Niger State has claimed the lives of at least 45 people. The incident occurred around 1 a.m. on Sunday near Man-Woro village and involved a petrol-laden tanker, a truck carrying cattle, and a passenger vehicle. According to witnesses, the accident was triggered when the tanker overturned while navigating the deteriorating road conditions, igniting a fire that engulfed the other vehicles. The truck, which was transporting cattle from Wudil, Kano State, to Lagos, and the passenger vehicle en route to the Agaie Sunday market, were caught in the blaze. Local resident Abubakar Agaie…
Residents of Moriki town in Zurmi Local Government Area of Zamfara State have successfully negotiated a reduction in ransom from notorious bandit leader, Bello Turji. The initial N50 million demand has been lowered to N30 million, with a deadline for payment set for Wednesday. GOVIMA can report that the ransom is meant as compensation for the killing of Turji’s cows by the new commander of the Army base stationed in Moriki. Under the agreement, each family head in the community is required to contribute N10,000, while unmarried adults are expected to pay N2,000. Despite the military commander advising the villagers…
No fewer than 196 soldiers stationed in Nigeria’s North-East and other conflict zones have applied for voluntary retirement, citing worsening security conditions and dissatisfaction with the military’s management of the ongoing crises. According to sources, many of the soldiers have expressed interest in joining foreign military forces, including the British Army, the Ukrainian Army, and other Commonwealth nations’ forces. These soldiers, who represent various formations across the country and are all junior cadres, have had their resignations approved by Chief of Army Staff, Lt Gen Taoreed Lagbaja. The formal disengagement was signed by Brigadier OH Musa on August 23. The…