LAGOS NVEMBER 19TH (NEWSRANGERS)-Nigeria’s Inflation Rate Rose To 17-month high in October as food prices surged. Consumer prices rose 11.6% from a year earlier compared with 11.2% in September, the Abuja-based National Bureau of Statistics said in a report published on its Twitter account Monday. That is the highest rate since May 2018 and exceeded…
LAGOS NOVEMBER 18TH (NEWSRANGRS) – Online retailer Jumia Technologies said on Monday it had suspended its e-commerce platform activities in Cameroon because they were “not suitable” for the African state. Dubbed “the Amazon of Africa”, the company founded in 2012 by two French former McKinsey consultants has grown quickly to become the continent’s leading e-commerce…
LAGOS NOVEMBER 14TH (NEWSRANGERS) – Nigeria and neighboring countries Benin and Niger have agreed to set up a joint border patrol force to tackle smuggling between the West African countries, they said in a communique on Thursday. Foreign ministers from the three countries met to discuss smuggling following a decision by regional giant Nigeria, which…
By Ikenna Lansar Aghaji LAGOS NOVEMBER 12TH (NEWSRANGERS)-Like the traditional market where a commodity’s final selling price is based on the decisions of two parties (the seller’s marketing skills and the buyer’s bargaining prowess), transactions via an auction also confers the same authority on the potential buyers and seller of a particular item. In an…
LAGOS NOVEMBER 12TH (NEWSRANGERS)-Notwithstanding the revenue increase the Nigerian Customs Service, NCS, said it has achieved with the on-going partial border closure, exporters are counting their losses as countries within the Economic Community of West African States, ECOWAS, sub-region have started rejecting Nigerian cargoes, apparently, as a form of retaliation against the land border closure….
LAGOS DECEMBER 1TH (NEWSRANGERS)-Japanese automaker Toyota will begin recalling 679 imported Lexus cars from Nov. 16, due to defective pneumatic rods, according to China’s market regulator. Filed by Toyota Motor (China) Investment Co., the recall will involve Lexus CT200h models manufactured between Jan. 30 and March 12, 2019, the State Administration of Market Regulation said…
LAGOS NOVEMBER 9TH (NEWSRANGERS)-Signs of possible scarcity of Liquefied Natural Gas, LPG or Cooking is looming across the country following protests by LPG marketers under the aegis of Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM). The marketers are concerned over what they described as indiscriminate artificial hike in the price of the product by…
LAGOS NOVEMBER 7TH (NEWSRANGERS)-The Bill to increase Value Added Tax (VAT) from 5% to 7.5% has passed through second reading in the Senate. The VAT Bill was read the first the time on Tuesday, November 5, and now passed through second reading. The process was not without controversy as the senators could not get a…
