“As an advocacy group for fair and just treatment, MURIC should have verified the facts before making statements that are entirely flawed and has the potential to incite ordinary Nigerians against the NNPC Ltd.”
Business
Don’t come for Christmas, FG tells Nigerians abroad
As people get ready for end of the year festivities, the Presidential Task Force on COVID-19 has urged Nigerians abroad not to bother coming home or risk being stranded in the country should the government restrict international travels.
It also urged Nigerians not to embark on non-essential travels even as it warned them to be weary of end of the year festivities such as Christmas carols.
These resolutions were reached on Monday and passed on to the public by the Chairman of the PTF, Boss Mustapha; its national coordinator, Sani Aliyu; the Minister of Health, Osagie Ehanire; and the Director-General of the Nigeria Centre for Disease Control, Chikwe Ihekweazu, at the weekly briefing of the task force in Abuja on Monday.
Mustapaha, who is also the Secretary to the Government of the Federation, said, “We shall continue to remind Nigerians that all non-essential trips should be put off this December. This is for your safety and good health.”
Aliyu advised Nigerians in the Diaspora should not consider coming home, urging them to celebrate Christmas and New Year wherever they are.
He said, “Nigerians outside the country, hopefully they will stay where they are. And for Nigerians in-country, we will also stay where we are.”
The national coordinator said for every 1,000 passengers coming into the country, Nigeria would record 10 positive cases of COVID-19.
He added, “Please, for this period, if your travel is not essential, stay where you are. We are actively discouraging Nigerians abroad from coming home this Christmas because of COVID-19 and the number of infections we have outside the country.
“So, the message is; if you do not want to get stranded, if you do not want to bring COVID-19 to your elderly relatives in Nigeria, please stay where you are. There will be other holidays.”
Ihekweazu said Christmas carols, travels and other gatherings during festivities could blow the virus infection beyind manageable level and urged Nigerians to avoid them as much as possible.
He said, “This is really to re-emphasise the call by the PTF that many of the traditional meetings that we engage in at this time of the year, whether they are Christmas carols or festivals, trips, family gatherings, each of those could end up being a super spreader event. So, we must take this into consideration as we make our choices.”
Ihekweazu said a travel advisory had been issued detailing why both local and international travels must be avoided unless when absolutely necessary.
Business
Dangote Refinery can sell petrol to any marketer – NNPC
Dangote Refinery can sell petrol to any marketer – NNPC
The Nigerian National Petroleum Company Limited (NNPC Ltd) has said it has no desire or intention to be the sole offtaker of petrol produced by the Dangote Refinery Limited, DRL.
NNPC Ltd said this while reacting to claim by the Muslim Rights Concern, MURIC, which claims that the Dangote Refinery Limited (DRL) is being undermined by actions of the NNPC Ltd.
MURIC had in a statement issued on Friday claimed that recent changes to the pump price of petrol will prevent the Dangote Refinery from selling the product at lower prices to Nigerians.
The group also claimed NNPC Ltd. has become the sole offtaker of all products from the refinery.
However, Olufemi Soneye, Chief Corporate Communications Officer, NNPC Ltd in a statement on Saturday dismissed the claims of MURIC.
While puncturing the claims of MURIC, NNPC LTD in the statement noted that the pricing of petroleum products from any refinery, including the Dangote Refinery Ltd. (DRL), is determined by global market forces.
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The company thefore noted that recent changes in PMS prices have no impact on the DRL or any other domestic refinery’s access to the Nigerian market.
Business
Forex: CBN sells $20,000 to each BDC at N1,580/$
Forex: CBN sells $20,000 to each BDC at N1,580/$
The Central Bank of Nigeria (CBN) has announced plans to inject more liquidity into the foreign exchange market by approving the sale of US$20,000 to each eligible Bureau De Change (BDC) operator.
This move is aimed at meeting the growing demand for foreign exchange in the retail market, particularly for invisible transactions.
In a circular issued on September 6, 2024, and signed by Dr. W.J. Kanya, Acting Director of the CBN’s Trade and Exchange Department, the bank stated that eligible BDC operators would purchase the foreign currency at the rate of N1,580 per US dollar.
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The BDCs are permitted to sell the forex to end-users at a margin not exceeding 1% above the purchase rate.
To facilitate the process, the bank said eligible BDCs must make Naira payments into designated CBN deposit accounts and submit the required documentation at the appropriate CBN branches in Abuja, Awka, Kano, and Lagos for the collection of the approved $20,000.
This measure is part of CBN’s ongoing efforts to stabilize the forex market and meet demand for invisible transactions such as payment for personal travel, medical bills, and school fees.
Forex: CBN sells $20,000 to each BDC at N1,580/$
Business
Naira falls by N34 to dollar in 24hrs
Naira falls by N34 to dollar in 24hrs
The Nigerian currency, Naira, has plummeted to an unprecedented low, trading at a staggering N1,639.41 per dollar at the official market on Thursday.
This marks a sharp decline from the previous day’s rate of N1,606, reflecting a dramatic loss of N34.
In a parallel trend, the black market also saw the naira fall, with the exchange rate reaching N1,645 per dollar, down from N1,640.
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The worsening exchange rates signal deepening economic challenges and growing concerns over the stability of the national currency.
As the naira continues its downward spiral, analysts and market watchers are closely monitoring the situation, with implications for both the economy and daily lives of Nigerians.
Naira falls by N34 to dollar in 24hrs
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