LAGOS FEBRUARY 22ND (NEWSRANGERS)-Nigeria’s economic situation continues to worsen as its legal tender, naira tumbled at the parallel market in spite of the clampdown the federal government ordered on foreign exchange market speculators. On Tuesday, the naira slid further with one dollar exchanging for 1,900 in Abuja and Kano, and N1,800 in Lagos; while the…
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…
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,…
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…
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”,…
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…
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…
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…
