The naira closed last week weaker, falling by 0.14% to ₦1,532.34 per dollar at the Nigerian Foreign Exchange Market. This occurred despite Central Bank interventions that briefly pushed the rate to a four-month high earlier in the week.
Analysts continue to emphasize that sustained improvement in foreign exchange liquidity and policy consistency are critical to stabilizing the naira.
The Social Democratic Party (SDP) has criticised the Minister of the Federal Capital Territory (FCT), Nyesom Wike, for allocating the historic Old Parade Ground in Abuja to the ruling All Progressives Congress (APC) for the construction of its new national secretariat. Describing the decision as the “height of executive recklessness and abuse of power,” the…
Stakeholders within the Peoples Democratic Party (PDP) are reportedly pushing for a consensus approach in selecting a new National Chairman, ahead of the party’s convention slated for November 15 in Ibadan, Oyo State. Front runners include Professor Jerry Gana, former party chairman Kawu Baraje, and former Kaduna State Governor Ahmed Makarfi. Meanwhile, acting National Chairman…
President Bola Tinubu has appointed Ms Derinsola Abiola, daughter of the late Chief MKO Abiola, as the Director General of the Citizenship and Leadership Training Centre. The National Association of Nigerian Students (NANS) commended the appointment in a statement by its National Public Relations Officer, Comrade Adeyemi Samson Ajasa, describing it as “putting a round…
There are long queues of vehicles at the few filling stations selling petrol in the commercial city of Lagos and the federal capital territory (FCT), Abuja. It is the same situation in many state capitals, cities and towns across the country. Major roads in Lagos were empty because motorists did not have petrol to move…
Nigeria has emerged as the leading beneficiary of the African Development Bank’s (AfDB) Special Agro-Industrial Processing Zones (SAPZ) programme. The initiative now spans 11 African countries, with 27 sites completed or under development. At the groundbreaking of the Ijaiye SAPZ hub in Oyo State, Prof. Banji Oyelaran Oyeyinka, adviser to former AfDB President Akinwumi Adesina,…
The Senate has dismissed reports of a rift between Senate President Godswill Akpabio and Senate Leader Michael Opeyemi Bamidele. According to a statement by the Chairman of the Senate Committee on Media and Public Affairs, Yemi Adaramodu, the claims are speculative and baseless. The Senate recently held closed-door sessions before its annual recess, during which…