Business | NEWS RANGERS

Peter Obi Fumes As CBN Increases Customs Exchange Rate By 9%

LAGOS FEBRUARY 21ST (NEWSRANGERS)-Less than five days after the Central Bank of Nigeria (CBN) reduced exchange rate for Customs cargo clearance from N1,515.48 to N1,472.756, the apex regulatory bank, on Wednesday, increased the rate to N1,605.82 per dollar representing nine per cent increment. But, the presidential candidate of the Labour Party (LP) in the 2023 […]

Feb 21 2024 | Posted in Business,National | Read More »

Developers Reject N8,000 Cement Price Agreement Reached Between FG, Manufacturers

LAGOS FEBRUARY 21ST (NEWSRANGERS)-Developers in the built industry have rejected the agreement reached between the Federal Government and cement manufacturers. At the meeting, it was resolved that prices of cement will be reduced to between N7,000 and N8,000. In an exclusive interview with The PUNCH, the President of the Real Estate Developers Association of Nigeria, […]

Feb 21 2024 | Posted in Business,National | Read More »

FG Threatens To Open Border For Cement Importation To Crash Price Hike

LAGOS FEBRUARY 20TH (NEWSRANGERS)-The Federal Government has threatened to open the borders to enable cement importation if Nigeria’s cement manufacturers refuse to reduce the price of the commodity in the country. The Minister of Housing and Urban Development, Ahmed Dangiwa, who issued the threat on Tuesday, said key input materials for cement production such as […]

Feb 20 2024 | Posted in Business,National | Read More »

SystemSpecs Opens Submission Portal For 5th Annual Children’s Day Essay Competition

LAGOS FEBRUARY 20TH (NEWSRANGERS)-SystemSpecs has announced the opening of the submission portal for the 2024 edition of its annual essay competition. “We are delighted to announce that the 2024 SystemSpecs Children’s Day Essay Competition (CDEC) is open to entries from young writers aged 9 to 16, who are Nigerians and attend primary or secondary school in Nigeria”, […]

Feb 20 2024 | Posted in Business,National | Read More »

Producers Promise To Fix Rising Cost Of Cement In 30 Days if…

LAGOS FEBRUARY 19TH (NEWSRANGERS)-The National Chairman of Cement Producers’ Association of Nigeria (CEPAN), Prince David Iweta, has said the body is ready to assist the Federal Government in crashing the price of cement within 30 days if brought in as part of efforts to bring solution. Iweta, who gave the assurance in an exclusive chat with […]

Feb 19 2024 | Posted in Business,National | Read More »

New Prices Of Beer Emerge (SEE FULL LIST)

LAGOS FEBRUARY 19TH (NEWSRANGERS)-Amidst the economic hardship in the country, Nigerians who find succour in alcoholic beverages may have to turn to other options as Nigerian Breweries has announced a price increase in some of its products. Nigerian Breweries said the price hike became necessary due to the continued rise in input costs and the […]

Feb 19 2024 | Posted in Business,National | Read More »

Nigeria Breweries Sack s Over 380 Workers As Dollar Scarcity Pushes Coy’s Loss To N106.3bn

LAGOS FEBRUARY 18TH (NEWSRNAGERS)-Nigerian Breweries Plc’s workforce has been reduced by 380 workers as the brewer struggled with the loss induced by surging cost and the naira floating policy of the Central Bank of Nigeria last year. NB joined brewery firms like International Breweries Plc which declared N59.5bn net loss in 2023 and Champions Breweries […]

Feb 18 2024 | Posted in Business,National | Read More »

Benin Trans Border Traders, Okada Riders Shun Naira For Business Transactions

LAGOS FEBRUARY 16TH (NEWSRANGERS)-The Naira has suffered another setback as trans-border businessmen and women who hitherto used to transact their businesses in Naira and other currencies have stopped accepting the currency as payment for business transactions. The traders claim that using the Naira to transact their businesses has become counterproductive following its continued depreciation, adding […]

Feb 16 2024 | Posted in Business,International,National | Read More »

Naira Crisis Is Fueling Corporate Exodus

LAGOS FEBRUARY 16TH (NEWSRANGERS)-As Nigeria’s vice president cut the ribbon on Procter & Gamble Co.’s diaper production line in 2017, the $300 million facility near Lagos was hailed as a symbol of the country’s economic ambitions. In December, P&G said it was leaving the West African state. The US consumer goods giant is not alone. […]

Feb 16 2024 | Posted in Business,National | Read More »

Beer Drinkers To Pay More Nigerian Breweries Hike prices Amid Production Costs Spike

LAGOS FEBRUARY 14TH (NEWSRANGERS)-Nigerian Breweries Plc has issued a new price review notification to all its customers in the West Zone. According to a letter dated Monday, February 12, 2024, the price review, effective Monday, February 19, 2024, is deemed necessary to offset the impact of increased production expenses. “This is to inform you that […]

Feb 14 2024 | Posted in Business,National | Read More »