Nigerians have continued to experience scarcity of Liquefied Natural Gas or cooking gas, shooting up prices across the country. The scarcity and the high cost of the product have been reported in Lagos, Kano, Maiduguri, among others, reports Daily Trust. Gas dealers have, however, assured that the scarcity is temporary as it was triggered by [...
The naira crashed against the dollar yesterday, falling to 1, 030/$ on the average in the parallel market, losing the momentum it gathered last week. This represents a N80 loss or a 8.42 per cent decline of the local currency compared to the N950 it closed the week at last Friday, reports The PUNCH. This […]
The devaluation of the naira has increased Nigeria’s debt profile by N20.6trn trillion in five months. A data analysis by this paper indicates that the new borrowing plans by the federal government will see the total debt level hit N89.2 trillion before the end of the year, reports Daily Trust. If shared to Nigeria’s 213 […]
•Cooking gas depot Scarcity of Liquefied Petroleum Gas also known as cooking gas has hit Lagos and some other states in the country. The other affected states, according to findings by our correspondents are: Katsina, Sokoto, Delta, Kaduna and Kano. The rise in price of the commodity has been noticed since late last month, causing […]
The Nigerian National Petroleum Company Limited (NNPCL) may begin importation of 110, 000 barrels of crude oil per day from Venezuela or Saudi Arabia to operate the Kaduna Refinery due to come on stream next year. Also, the Dangote, Bua and other refineries may be forced to import about 1.322 million barrels of crude oil […]
The naira continued its rebound against the dollar today, strengthening to N950/$ on the average in the parallel market. This represents a N170 gain or a 15.18 per cent appreciation of the local currency compared to the N1,120 it traded for yesterday, reports The PUNCH. This is also the second day of recovery for the […]
Manufacturers have expressed concerns as the price of diesel has risen to N1,275 per litre in Lagos and above N1,300 outside the state. The product is selling for N1, 270 per litre in Kano State and above that outside the metropolis, reports Daily Trust. This implies a 26 percent increase in the price of the […]
The Central Bank of Nigeria, CBN, yesterday, assured Nigerians of sufficient stock of currency notes for economic activities in the country. It was earlier reported that as the December 31 deadline for the use of the old N200, N500 and N1000 banknotes approaches, scarcity of cash has hit Kano and Borno states as well as […]
•Lagos-Ibadan cargo train Investigations by our correspondent yesterday have revealed that the Lagos-Ibadan cargo train, since it’s arrival on Sunday, October 29, 2023 at the Apapa Port from Moniya in Ibadan, has not left back to Ibadan with cargoes due to lack of enough cargoes to lift from the nation’s busiest port, reports Nigerian Tribune....
•Tinubu and Shettima Many African governments are currently caught in the crisis of refining domestic debts at cut-throat costs even as they overstretch the funding capacity of their central banks to bridge the gaping hole in their finances, a situation that has left many in dire straits, a report by S&P warned yesterday. The crisis [&hell...
The Frontier is Nigeria’s leading online newspaper. It is published by Okims Media Links Limited headed by Sunny Okim, a veteran journalist who is widely known as The Grandmaster, fondly called so by colleagues and friends for being Nigeria’s pioneer movie journalist.
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