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Outrage, as Nigerians bemoan ban on Tokunbo cars

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Smuggling and importation of fairly used automobiles (aka, Tokunbo) through Seme, a border town between Nigeria and the Republic of Benin is one of the most lucrative businesses that most citizens of both countries have been engaged in for many years. Although some commentators blame the nation’s porous land borers ...

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Sachet water price soars

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Sachet water that used to be for the common man in the street is now beyond his reach as the price has soared due to lack of foreign exchange to import machinery and other production materials. The difficulties in getting foreign exchange and the steep fall in the value of ...

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Our rice’ll be sold at N13,000/bag –Ambode

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The Lagos State Government has pledged to make rice available to residents at a reduced cost of N13, 000 per 50kg bag. The Lagos State Governor, Mr. Akinwunmi Ambode, disclosed this on Thursday during the 2016 Agricultural Summit organised by the Agricultural Sectoral Group of the Lagos Chamber of Commerce ...

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Rolls-Royce releases first SUV

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Luxury car maker, Rolls-Royce, has announced the production of its first sport utility vehicle, which will likely be the most expensive SUV in the world. This is coming about two years after the London-based automaker first hinted about its plan to build a vehicle that can conquer all terrains, which ...

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Naira exchanges at N485 per dollar

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The Naira appears helpless in the face of efforts by the CBN and stakeholders in the Forex market in fast -tracking its recovery. The Nigerian currency exchanged at N485 to a dollar at the parallel market on Wednesday in Lagos, while the Pound Sterling and the Euro traded at N600 ...

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Federal Government Bans Importation of Vehicles Through Land Borders

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The importation of vehicles into Nigeria through the land borders have been banned by the Buhari-led Federal Government. An official statement released on Monday by Wale Adeniyi, the spokesman of the Nigeria Customs Service (NCS), states that the President Muhammadu Buhari-led federal government has banned the importation of cars through ...

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Nigeria, Morocco to build gas pipeline link

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Nigeria and Morocco on Saturday resolved to jointly promote a gas pipeline that will connect the two countries and some other African countries. This was one of the agreement reached during the three-day visit of Moroccan King President Mohammed VI. The Minister of Foreign Affairs, Dr Geoffrey Onyema, disclosed this ...

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Second hand clothes’ dealers, buyers complain of high price

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As the Yuletide approaches, dealers in second-hand clothes are blaming the economic recession in the country for low patronage, the News Agency of Nigeria (NAN) reports. Some of the dealers told NAN in separate interviews that the economic situation was taking a toll on their businesses. Miss Adaeze Nwogo, who ...

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Sweden slaughters 200,000 hens on bird flu fears

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Sweden on Friday said 200,000 chickens were being slaughtered at a farm where bird flu has been detected, following a resurgence in the virus across Europe. Traces of the H5N8 virus were found at the Aniagra farm in Morarp, southwest Sweden, on Thursday. The discovery came after bird flu was ...

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Saudi Arabia warns Trump against banning Kingdom’s oil

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Saudi Arabia is cautioning President-elect Donald Trump against carrying out a threat to cut off American purchases of the kingdom’s oil. Trump made the threat earlier this year, saying that if elected he might halt imports of oil from Saudi Arabia and other Arab countries if they don’t commit ground ...

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Ways coconut farming can boost govt’s poverty reduction

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Despite being blessed with favourable climatic conditions, vast arable land and fertile soil, Nigeria’s agricultural potential is still wallowing in neglect, which informs the inability of the nation to meet the demand for agricultural produce for its large populace. For decades, a highly nutritional produce with high investment value, coconut, ...

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FG Reveals Plans To Launch National Carrier In 2017

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Nigerians will soon have cause to smile as the Federal Government moves to float a new national carrier next year, the Minister of State (Aviation), Senator Hadi Sirika, has said. To ensure smooth take off of the proposed national carrier, the government will next week appoint a transaction adviser. Addressing ...

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Facebook Launches PC Gaming Platform ‘Gameroom’

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On Tuesday, Facebook unveiled its app dedicated to PC gaming, Gameroom, at Unite 2016, an annual conference for the Unity game development toolkit. Facebook made the move after seeing customers preference for mobile gaming apps rather than those for desktops. A lot of money was made by the social networking ...

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NNPC loses N11.22 billion in 1 month – Report

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The Nigerian National Petroleum Corporation (NNPC) has again reported a month-end trading deficit of N11.22 billion in August. The figure was obtained on the NNPC website detailing its monthly financial and operations report released in Abuja. The corporation had posted a trading deficit of N24.18 billion loss in its July ...

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Naira appreciates against dollar

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The Naira on Monday in Lagos, Nigeria’s commercial hub, appreciated marginally against the dollar at the parallel market, gaining N2. The currency exchanged at N468 to the dollar as against N470 it traded on Friday. The Pound Sterling and the Euro closed at N565 and 510, respectively. At the interbank ...

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