LAGOS MAY 2ND (NEWSRANGERS)-The American multinational and makers of “Huggies”, Kimberly-Clark, has exited the Nigerian market, citing the harsh economy. The company’s decision comes after it has operated locally in Nigeria for 14 years, according to a statement issued on Friday. According to the statement, the company intended to adjust global strategic priorities and the prevailing…
LAGOS MAY 31ST (NEWSRANGERS)-The Presidential Committee on Fiscal Policy and Tax Reforms has recommended that the federal government adopt an exchange rate of N800 per one US dollar for Customs import duty. This proposal was announced by the committee’s chairman, Taiwo Oyedele, during a press briefing in Oyedele highlighted the challenges businesses face due to…
LAGOS MAY 30TH (NEWSRANGERS)-Prices of essential food items in Nigeria surged significantly in April 2024 compared to the same period last year, according to the latest Selected Food Price Watch report from the National Bureau of Statistics (NBS). The report revealed a concerning rise in the cost of staple foods across the board. Here’s a…
LAGOS MAY 26TH (NEWSRANGERS)-Twelve people were injured aboard a Qatar Airways plane from Doha to Dublin, Ireland, on Sunday after extreme turbulence hit another international flight. The Boeing 787 Dreamliner landed safely at Dublin Airport just before 1 p.m. Sunday. Six passengers and six crew members reported injuries “after the aircraft experienced turbulence while airborne…
LAGOS MAY 25TH (NEWSRANGERS)-Eko Electricity Distribution Company (Eko Disco) has announced the new, deregulated meter prices for metres deployed under the Meter Asset Provider (MAP) Scheme. The distribution company disclosed this in a statement on its official X account on Friday, revealing prices offered by six different MAP vendors for both single-phase and three-phase metres….
LAGOS MAY 21ST (NEWSRANGERS)-In what seems to have become a monthly ritual, the Nigerian Breweries Plc has once again announced a hike in the prices of its products that would take effect from April 9, 2024, after it had made similar announcements in February and March 2024. A price review notification the Nigerian Breweries issued…
LAGOS MAY 17TH (NEWSRANGERS)-The World Bank has blacklisted 58 Nigerian companies and individuals for engaging in corrupt practices, a move which comes as part of the institution’s ongoing efforts to uphold integrity and transparency in its projects and operations. Among those affected are 39 Nigerian companies previously debarred by the African Development Bank (AfDB), along…
LAGOS MAY 17TH (NEWSRANGERS)-Nigeria’s new Dangote mega refinery near Lagos is seeking to buy millions of barrels of US crude over the next year as it ramps up processing rates, a sign of the challenges that Africa’s largest producer faces in lifting its own oil output. The plant, built by Africa’s richest man Aliko Dangote,…