LAGOS AUGUST 14TH (NEWSRANGERS)-The Tanzanian authorities must immediately and unconditionally release Willibrod Slaa, former parliamentarian and Tanzanian Ambassador to Sweden, Boniface Mwabukusi, a lawyer and activist, and Mdude Nyagali, a political activist, all of whom were arrested between 12 and 13 August simply for criticizing a port deal between Tanzania and the United Arab Emirates…
LAGOS AUGUST 12TH (NEWSRANGERS)-Nigeria’s central bank has reported a $7.5 billion loan from U.S. banks JP Morgan and Goldman Sachs in financial statements published for the first time since 2015, sending the country’s international bonds tumbling on Friday. Nigeria’s government has had to seek overdrafts from the central bank to plug a widening deficit amid…
LAGOS AUGUST 11TH (NEWSRANGERS)-The pump price of the Premium Motor Spirit (PMS) may yet increase to about N750 per litre, the Independent Petroleum Marketers Association of Nigeria (IPMAN) has hinted. This is even as the association urged the government to initiate policies that would save the naira from further depreciation. The association’s national spokesperson, Mr….
LAGOS AUGUST 10TH (NEWSRANGERS)-The Nigerian naira extended its slump in black-market trading as the nation’s dollar shortage deepened two months after the central bank moved to a more flexible exchange rate to encourage inflows. The currency of Africa’s biggest crude oil producer weakened to 923 naira per dollar, compared with 917 naira the day before,…
LAGOS AUGUST 8TH (NEWSRANGERS)-The Nigerian currency, the naira exchanged at the black foreign market for as low as N900 to a dollar on Monday, August 7, 2023. According to street traders who spoke to Legit.ng, Nigerians looking to buy dollars should be ready to pay as high as N902 as of 3 pm on Monday…
LAGOS AUGUST 7TH (NEWSRANGERS)-No fewer than 500,000 bakery workers may lose their jobs as bakers are planning to shut down following increase in the cost of materials. The Association of Master Bakers and Caterers of Nigeria (AMBCN) said over 500,000 workers in the bakery industry may lose their jobs if and when they are forced…
LAGOS AUGUST 4TH (NEWSRANGERS)-Petrol pump prices in Nigeria are likely to increase for the third time since subsidy removal as Platt benchmark price for petroleum products reached a staggering $979.75 per metric ton (MT) at the close of Wednesday’s trading session. Additionally, the Argus benchmark price trading platform reported prices of $960.86/MT and $1,010.86, including…
LAGOS AUGUST 4TH (NEWSRANGERS)-Nigeria is turning to gas as an alternative fuel after it scrapped a popular but costly subsidy on petrol that has seen pump prices rise sharply, angering motorists and businesses that use petrol to generate their own power. State-oil firm NNPC said late on Thursday it has partnered with NIPCO Gas to…