LAGOS OCTOBER 25TH (NEWSRANGERS)-The Naira today depreciated to N1,740 per dollar in the parallel market from N1,739 per dollar on Thursday. However, the Naira appreciated to N1,601.2 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM. Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,600 per dollar from N1,601.2…
LAGOS OCTOBER 23RD (NEWSRANGERS)-President Bola Tinubu has told Nigerian motorists to either buy petrol at N1000 or the compressed Natural Gas (CNG) at N200. The President said this during a meeting with the company’s executive on Tuesday at the State House, Abuja. He also praised NIPCO’s contributions to the nation’s energy transition efforts, particularly its…
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…
LAGOS FEBRUARY 7TH (NEWSRANGERS)-Nigerians are feeling the heat, not just from their stoves, but from their wallets as the price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has skyrocketed to N1,300 per kilogram. This sharp increase, up from less than N500 in 2018, has sent shockwaves through households nationwide, adding another layer…
LAGOS JANAURY 3RD (NEWSRANGERS)-The Nigerian National Petroleum Company (NNPC) Limited has reacted to a media report alleging fresh plans to increase the price of petrol to N1,200 per litre. Politics Nigeria reports that social media platforms, on Wednesday, have been awash with rumours of a new increase in the price of fuel across the country. Reacting…
LAGOS DECEMBER 5TH (NEWSRANGERS)-The Naira, on Monday, depreciated to N1,170 per dollar in the parallel market from N1,166 per dollar last week Friday. However, the Naira appreciated to N837.77 per dollar in the Nigerian Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N837.77 per dollar from…
LAGOS OCTOBER 24TH (NEWSRANGERS)-On Monday, the foreign exchange (FX) market resumed trading after the weekend, with naira hitting an all-time low of N1,210 on the parallel market or black market. This represents 3.41 percent weaker than N1,170 closed on Friday on the same market. Last week, the Naira weakened by 11.43 percent week-on-week to a…
LAGOS JULY 23RD (NEWSRANGERS)-The Economic and Financial Crimes Commission (EFCC) has successfully obtained a conviction against Ibrahim Musa Dabai in Kano state. Dabai was found guilty of a single-count charge related to manipulating Nigerian currency. It was reported that Dabai was arrested by National Drug Law Enforcement Agency (NDLEA) officers on the Abuja-Kaduna Expressway. During…