LAGOS MAY 6TH (NEWSRANGERS)-A report indicates that the price of liquified petroleum gas (LPG), also known as cooking gas, has crashed. According to a market survey carried out by Legit, dealers have crashed the product’s price to ₦900 per kilogramme from the ₦1,300 it sold weeks ago. LPG dealers have reported improvement in supplies from…
LAGOS MAY 6TH (NEWSRANGERS)-The Naira depreciated by N130 against the United States dollar at the parallel foreign exchange market on Sunday. A Bureau De Change operator, Mistila Dayyabu, disclosed this to the DAILY POST in an interview. He noted that Naira dropped to N1,420 per dollar from N1,290 in less than 48 hours at the…
LAGOS MAY 1ST (NEWSRANGERS)-The Chairman of Dangote Industries Limited, Aliko Dangote has described the floating of naira by President Bola Tinubu’s administration as the biggest mess that affected his company and other business owners in 2023. Floating the naira allows market forces to determine its value in relation to other currencies. Dangote said this on…
LAGOS MAY 1ST (NEWSRANGERS)-A recent report by Statisense has ranked the Nigerian Naira and the Argentine Peso among the top 15 weakest currencies against the U.S. dollar, highlighting ongoing economic challenges in both nations. Naija News reports that this revelation follows a considerable depreciation in the value of the Naira. The currency hit a record…
LAGOS APRIL 30TH (NEWSRANGERS)-A Competition and Consumer Protection Tribunal sitting in Abuja, on Monday, issued a restraining order on Multi-Choice Nigeria Limited from increasing its tariffs and cost of products and services. Multi-choice had last week announced a price increment across its DStv and GOtv packages effective May 1, 2024. The pay-TV company claimed the…
LAGOS APRIL 30TH (NEWSRANGERS)-Kuda Bank, Moniepoint, OPay and Palmpay have paused account opening for new customers following a directive from the Central Bank of Nigeria. The directive came two days after the EFCC blocked 1,146 bank accounts involved in unauthorised forex dealings. “We’ve temporarily paused new signups on our platform. This means that you’ll…
LAGOS APRIL 17TH (NEWSRANGERS)-As Naira appreciated further against the United States dollar across both the authorised and unauthorised foreign exchange markets on Monday, inflationary pressures persisted across the country. According to market data published on the FMDQ website, naira closed Monday at N1,136.04/$1 against N1,142.38 recorded in the previous market session last Friday. Monday’s gain…
LAGOS APRIL 3RD (NEWSRANGERS)-The pump price of Automotive Gas Oil, popularly called diesel, has dropped from about N1,700/litre which it sold for a few weeks ago, to around N1,350/litre in some locations across the country following the sale of the commodity by the Dangote Petroleum Refinery. It was gathered on Tuesday that the $20bn worth…
