₦airaland Forum

Bubu4Sea:
We need to break the monopoly Dangote has on Cement

Dangote is not the biggest cement producer in Nigeria

Lafarge is bigger that Dangote Cement

See the Top best cement brands in Nigeria.

1. Lafarge Africa Plc Company-
(Elephant Cement)
(UniCem Cement)
(Elephant Supaset Cement)
(Powermax Cement)

2. Dangote Group of Companies-
(Dangote Cement)

3. Bua Cement Company-
(Bua Cement)

4. Nigerbaf Building Arids Company-
(Ashaka Cement)

5. Ramco Cement Company-
(Ramco Cement)

6. Ibeto Group-
(Ibeto Cement)

7. Nigerian Cement Company-
(Nigercem Cement)

8. Eagle Cement Company-
(Eagle Cement)

Cement price will increase to N9,000 – Manufacturers warn.

Cement price: Union kicks, gives 30-day ultimatum to fix price at N1, 800
The Cement Producers Association of Nigeria, has warned that the plan of the federal government to introduce concrete roads will increase the price of cement to N9, 000.

The association issued this warning in a statement jointly signed by the National Chairman, Prince David Iweta and National Secretary Chief Reagan Ufomba, on Sunday.

The price of cement per bag currently sells at the rate of N5, 000.

The association also called on the current administration to permanently address the perennial cement price hike problem by facilitating larger participation in the cement industry, noting that Nigerians have no business buying cement for more than N5, 600 per bag.

Ufomba commended the works Minister’s position on cement-made roads but warned of dire consequences, if the supply end is not addressed properly.

The cement producers urged the government to lay more emphasis on road design that allows both cement technology and asphalt pavement to run concurrently and provide ample time for a smooth transition that allows contractors to invest in commensurate and requisite equipment and retooling.

The statement reads, “Our findings from various parts of the country show that cement sells for as high as N6000 per bag in the rainy season. Our prediction is that it will sell for over N9,000 per bag in the dry season, especially with the pronouncement of the Honourable Minister of Works on cement technology and the marching order on housing by Mr President if the government does not take proactive steps.

“While we commend the Honourable Minister’s position on cement-made roads, we warn of the dire consequences if the supply end is not properly addressed. In fact, it would amount to dereliction of duty not to intervene.

“And the time is now. To do otherwise is to continue in a worsening pipe dream that prices would suddenly drop on this essential input that will continue to drain the purse of Nigerians, render them homeless, encourage chaos between demand and supply, and worsen the infrastructure deficit it sets out to cure, and lead to an unprecedented price hike.

“We also call on the Honourable Minister of Works to lay more emphasis on the design criteria of roads that allow both cement technology and Asphalt pavement to run concurrently, in turn, will provide ample time for a smooth transition that allows contractors to invest in commensurate and requisite equipment and retooling.

“We must also as a nation regulate static and dynamic load traffic by introducing weighbridges at access points on our highways. Working in sync with contractors, and allied Ministries of Trade and Investment, Transport, Environment and Finance on realistic policy on cement is most desirable at this critical time.”

The association further requested the government to conclude the backward integration policy of the late Yar’adua administration that was already bringing availability and affordability of cement in the country.

It added, “There has been so much comment on cement and cement pricing of late. What our nation needs is cement that is available and affordable. And this cannot be achieved by mere wishes, faulty policies and programmes, without breaking the chain of monopoly and favouritisms. Nigerians are tired of waiting for a downturn in the price of cement and for decent and affordable housing.

“We call on the Tinubu government to permanently solve this perennial cement price hike problem by expanding participation in the sector with companies who have verifiable evidence of local investment, including greenfield licenses and quarrying. As a matter of fact, we call on the government to more specifically conclude the backward integration policy of the late Yar’adua administration which was already bearing availability and affordability fruits.

“As patriots, it is our view that the government reintroduces backward integration policy and the conclusion of old ones. Consequently, the government cannot be seen to approbate and reprobate by deregulating issues of petroleum products and foreign exchange on one hand and regulating on pricing of cement, essential goods and services on another. There is a need for policy harmonisation and convergence between fiscal and monetary policies.

“Finally, we call on the government to urgently intervene in the foreign exchange market, intervene in restructuring bad loans of manufacturers, and review palliative modules. The cry for elusive FDI will be drastically reduced if all manufacturing concerns are revived. The government must be decisive in the kind of economic policies it intends to foist on the people,” the statement added.

A Burkina Faso doctor has been sent to frontline for criticizing the military over insecurity.


In Burkina Faso, a Doctor Criticized the President Captain Ibrahim Traoré that he was incapable of tackling terrorism in the country.

The doctor was invited and sent to the frontline to see the reality of terrorism closely.

Do you think Nigerian Military should do the same ?

Can somebody tell Bola Tinubu to resign and save himself and Nigerians from International disgrace and embarrassment.

Please forgive Tinubu, withdraw your case in Chicago to save Nigeria from shame, APC chieftain begs Atiku.

It is important that we plead with Atiku to drop that case and not allow us wash our dirty linens in the public.

A youth leader of the All Progressives Congress, Hyde Kalu has asked the presidential candidate of the Peoples Democratic Party and former Vice President of Nigeria, Atiku Abubakar to drop his case pursuing the validity of President Bola Tinubu’s educational qualifications in the United States.

The APC youth leader in Abia State said that the call becomes necessary, “because the issue is already generating negative attention to Nigeria across the globe, and Atiku should save the country this embarrassment.”

Kalu, in a press statement sent to the media on Monday, said that “it is quite unfortunate that the pride of Nigeria has been dragged to a point of ridicule in the comity of nations.”

He thus pleads with Atiku to discontinue the litigation in the United States and allow the judiciary in Nigeria to decide the post election dispute arising from the 2023 presidential election.

He said, “Atiku is a statesman, and it is not in contention that he has the love of Nigeria at heart.

“I am sure that no Nigerian is happy with the way our country has been subjected to ridicule over the court ruling in the United States

“For the love of this country and to spare Nigerians the shame of how this process may end, it is important that we plead with Atiku to drop that case and not allow us wash our dirty linens in the public.

“We are all patriots, and I believe that we can have a decent way of handling this matter and save Nigerians the shame of this impending embarrassment.

“The election has come and gone, and a president has emerged. We are all humans, and that is why I am pleading with Atiku to discontinue the case in America for the sake of the country and in consideration of the friendship between him and President Tinubu,” Kalu said.

It will be recalled that Judge Jeffrey Gilbert of a Chicago Magistrate Court had asked the Chicago State University to testify under oath in a discovery of President Tinubu’s academic records at the university, and the president caused an emergency appeal to the ruling citing “severe and irreparable damage” to him if the order of the magistrate court was granted.

Atiku is contesting the declaration of President Tinubu as the winner of the February 25 presidential election and one of the grounds of his appeal is that the president forged the document of his academic record that was submitted to the Independent National Electoral Commission (INEC).

Throwback:
The matter pain you so much.

Eyaah!

What a loser you are together with Atiku and Obi.

Tinubu does not even need to go to any school to gain admission with a GED into a tertiary institution in America.

But I know you are too ignorant to know that.

Fake academic documents submitted under oat attract jail term, Tinubu knows, and you are ignorant, that's why he is appealing.

osigiepurr:
I am beginning to suspect Tinubu and Atiku for this emotional game playing. Tinubu is a prank star who loves to entertain his people with irrelevant stories. Atiku is dancing to the gallery like the vehicle used to display the funny act. Both of them are playing on Nigerian intelligence…..very simple.


If you still belong to the class of slowpoke thinking Tinubu did not legitimately attend CSU, you definitely need a deliverance from Spiritual warlords.

This is my first time of seeing a graduate with 1st class, refusing to show his academic record. There's something fishy.

[quote author=Racoon post=126016888][/quote]

Atiku Insisting On Tinubu’s Certificate To Expose Identity Fraud’ – Obaseki.

The Director of Research and Documentation of the Atiku/Okowa Presidential Campaign Organization, Don Pedro Obaseki on Monday claimed that former Vice President, Atiku Abubakar, is insisting on the release of President Bola Tinubu’s academic records at the Chicago State University (CSU), to expose alleged identity fraud.

Obaseki stated this during a Zoom conference hosted by a psychologist based in London, Prof. Gold Emmanuel.

Obaseki accused President Tinubu of fighting to prevent the release of the credentials which he admitted “would cause irreparable damage to his person,” because of the details therein.

He further stated that Nigerians will be shocked when President Tinubu’s record is made public by the University.

According to Obaseki, the real owner of the academic records Tinubu has been laying claim to will be exposed.

Obaseki said, “Nigerians will be more demoralized that the owner of the certificate that President Tinubu is parading is a woman. We already know it as a fact, but we are seeking the release of the documents officially by CSU.”

He also expressed confidence that the documents when released, may compel the Supreme Court to consider fresh evidence in support of petitions currently before it.

Obaseki further said, “Even when the court of first instance and the appellate court have convicted someone to death and minutes before the Supreme Court gives its final judgement and there arose fresh and compelling facts and evidence, the apex court is bound to listen to the fresh facts before making its final judgement.

“It is an unwritten proviso that where there is a compelling factual fact other than what is already obtained in the Presidential Election Petition Court (PEPC), the Supreme Court will be bound to accept the new facts of law and rule on them.”

Obaseki also claimed that the interpretation of the Presidential Election Petition Court (PEPC) concerning the position of the 1999 Constitution (As Amended), on the Federal Capital Territory, was with all due respect, an attempt to manufacture evidence.

He said, “Abuja cannot be called a state. A state as stipulated in the 1999 constitution must have a state assembly of its own. A state must have a governor. Abuja as presently constituted is not a state.

“FCT or Abuja as the case may be is patterned after Washington in the United States of America. It is such made so that no one part of the country can claim it. It is home to all Nigerians.

“The FCT was carved out of Niger state, Kogi state, Benue state and Nasarawa state. It cannot be declared a state by the PEPC.

“The PEPC cannot amend the 1999 constitution through the back door. There are processes to do that. This is one important issue that the Supreme Court must address.”

He equally accused President Tinubu of arresting Nigeria’s development through his knee-jerk approach to economic issues.

Obaseki declared, “In one full swoop of three words, he removed the fuel subsidy without caring of the consequences to the already multi-dimensional poverty in Nigeria. He devalued the naira among other policies that have negatively affected the economy.”

He explained that the Supreme Court has a moral obligation to ensure that Nigerians irrespective of social status get justice.

Obaseki echoed Atiku’s position rejecting any form of military intervention because democracy, despite its imperfections, remains the best form of government.

He also demanded the prosecution of the chairman, of the Independent National Electoral Commission (INEC), Mahmood Yakubu, whom he accused of complicity in the current travails of Nigerians when he allegedly manipulated the electoral process to give the All Progressives Congress unmerited victory.

Obaseki added, “INEC abandoned all the policies it advocated that would ensure a free and fair election in the country.

“Is it not curious that two elections took place the same day, same time, one result was transmitted electronically and the other was not?”

Japa: NARD cries out as young doctors leave Ahmadu Bello University Teaching Hospital
Mr Kabir added that ‘the Japa Syndrome’ was extending down the ladder as more younger doctors were in the process of leaving.

The National Association of Resident Doctors (NARD), Ahmadu Bello University Teaching Hospital (ABUTH) chapter, has advocated for improved welfare and enhanced remuneration to tackle the alarming rate of brain drain in the health sector.

Badmus Kabir, the association’s vice-president, told journalists on Sunday in Zaria that brain drain, popularly known as ‘Japa Syndrome,’ has been one of the major issues depleting the human resources for health in Nigeria.

The union leader noted that two years ago, NARD members at the ABUTH branch were far over 500, but the register has depleted to a little above 400 members because of migration.

He explained that the figure excluded the doctors who had exited the residency training or those who transferred their services to other health facilities.

“Two had transferred service from ABUTH to another part of the country where they felt safer, and the scenario is worse in some departments where you have only two or three young doctors,’’ he said.

Mr Kabir added that ‘the Japa Syndrome’ was extending down the ladder as more younger doctors were in the process of leaving.

He said it was unhealthy for the healthcare system, as the trend caused excess workloads on doctors, adding that the patients were at the receiving end and suffered a lot.

Mr Kabir added that the senior doctors see patients on specialised days. He said that with a few doctors, patients with non-emergency medical conditions would be booked to see their doctor’s case after four months or thereabouts.

The union leader urged the government and relevant stakeholders for improved welfare and enhanced remuneration to tackle the alarming rate of brain drain in the health sector.

”Doctors have been living on the same salary scale since 2009 despite the harsh economic realities in the country, hence the agitation by NARD for an increase in wages,’’ Mr Kabir said.

The union leader said that over 70 per cent of their members on grade levels three and four of the consolidated medical salaries did not receive their August salaries.

Aisha Abdulkadir, the public relations officer of ABUTH, confirmed the development.

Zxcvbnmghtr:

Great news for Niger and Africa heralding the end of France's colonization agenda.

The only savour for Nigeria as a nation is to emulate what Niger did and sack the UK govt from looting this country called Nigeria.
There's no gain for Nigerians to keep on pretending.
(Suffering and Smiling process).

French President Emmanuel Macron has announced an end to France’s military presence in Niger and the recall of its ambassador, in response to the recent coup that ousted the democratically elected president of Niger, Mohamed Bazoum.

This decision is a notable blow to France’s policy in Africa, especially concerning the Sahel region where they had stationed thousands of troops to fight against Islamic extremist groups.

France had maintained around 1,500 troops in Niger since the July coup, but tensions have escalated between France and Niger in recent weeks.

An aide to Niger’s deposed President, Ali Sekou Ramadan, said that Bazoum had requested the withdrawal of the French ambassador to reduce tension.

In an interview on French television, Mr. Macron also said that the country’s ambassador to Niger would leave “within the next hours.”

He added, “And we are ending our military cooperation with the de facto authorities in Niger, because they no longer want to fight terrorism.”

This decision comes after military interventions in other African countries like Mali and Burkina Faso, where France faced tensions with ruling juntas and subsequently withdrew its troops.

Niger’s junta has responded to this announcement, viewing it as a step toward the sovereignty of their country.

They declared that imperialist and neo-colonialist forces are no longer welcome on their national territory, emphasizing a new era of cooperation based on mutual respect and sovereignty.

“Imperialist and neo-colonialist forces are no longer welcome on our national territory. The new era of cooperation, based on mutual respect and sovereignty is already underway,” it said in a statement.

The coup leaders also declared the closure of Niger’s airspace to French planes, both commercial and military.
The withdrawal of troops is expected to be gradual, likely by the end of the year and will be coordinated with the coup leaders to ensure a peaceful transition.

Finally, France decides to recall ambassador from Niger. To withdraw troops too – Macron

President Emmanuel Macron has said that France would soon withdraw its ambassador from Niger Republic, followed by its military contingent.

The colonial power had kicked against the coupists who overthrew President Mohamed Bazoum of Niger Republic in July 2023.

The country also insisted on the reinstatement of Bazoum.

France has about 1,500 soldiers in Niger as part of an anti-jihadist deployment in the Sahel region.

In the wake of the coup, France had said its troops would remain in the West African nation despite hostilities by the junta.

Also, Niger’s military leaders had told the French ambassador, Sylvain Itte, to leave the country.

However, a 48-hour ultimatum for him to leave, issued in August, passed with him still in place as the French government refused to comply, or to recognise the military regime as legitimate.

He added that military cooperation was over and French troops would withdraw in “the months and weeks to come” with a full pull out by the end of the year.

“In the weeks and months to come, we will consult with the putschists, because we want this to be done peacefully,” he added

.-

FG Awards Lagos-Calabar Coastal Highway To Hitech.

The Federal Government has awarded the construction of the Lagos-Calabar Coastal Highway to Hitech Road Construction Company.

The development was announced by the Minister of Works, Mr Dave Umahi, during a meeting held in Lagos with engineers from the Federal Ministry of Works and the contractor’s team, the News Agency of Nigeria reported.

Umahi emphasized that this project, which aims to enhance connectivity across the nation, reflects President Bola Tinubu’s strong commitment to Nigeria’s restoration and rapid development.

He stressed that President Tinubu is eager to expedite the project’s commencement as part of his efforts to improve the country.

The minister disclosed that this initial meeting was the first step in the process, with another meeting scheduled in two weeks to finalize the construction agreements.

The project will be executed as a Public Private Partnership and will be tolled upon completion, with the contractor already securing the necessary funding.

Phased construction, rail integration, and toll collection strategy
Umahi explained that the highway would be constructed in phases, with the completed sections being opened for use and toll collection.

The proposed route will link the Lagos-Badagry Expressway superhighway, the Fourth Mainland Bridge, Lekki Deep Sea Port Road, and connect various points in Northern Nigeria via Ogoja-Ikom.

The project, with an initial design length of approximately 650 to 700 kilometres, will also feature rail lines running in the middle of the main carriageways.

Umahi revealed that the project is expected to stimulate tourism and include industrial clusters, such as hotels, factories, housing estates, and other amenities.

The minister highlighted the innovative use of 11-inch-thick concrete roads with 20-millimetre reinforcement, which will support local cement manufacturing, boost steel production from Ajaokuta, and utilize Nigeria’s abundant bitumen resources.

“It is quite innovative and the giant of Africa is beginning to show her prowess and this is being revitalized by the captain of the ship, his excellency President Bola Tinubu.
“So, this is beautiful. Another good news is that this is going to be built on a concrete road of 11 inches thick with 20-millimeter reinforcement.”
However, the minister acknowledged that the project would encounter challenges due to its passage through mangroves, mashy areas, flood plains, and various soil types. As a result, a combination of construction methods, including pile-supported decks, sand filling, and retaining walls, will be employed.

In Umahi words:

“And so, there will be a combination of all kinds of construction methods, the deck on pile would be there, the sand filling would be there, the retaining walls would be there.
“So, it’s a very ambitious project, quite technical and highly rewarding.”
The second meeting, scheduled in two weeks, will focus on the business case study, allowing the project to progress to the design phase. Umahi noted that the Lagos-Calabar Coastal Highway is a groundbreaking project, the first of its kind in Africa.
“So, the second meeting will come up in two weeks where the business case study will be exposed to us, and we will give them a letter to own the project and then to engage in the design.
“The Lagos-Port Harcourt-Calabar Coastal Highway is the first of its kind in the whole of Africa,” he said.
Project significance and environmental considerations of the proposed Lagos-Calabar Coastal Highway.

Nicholas Rizk, the consultant to Hitech Construction Company, highlighted that the chosen construction methods were well suited for a country with Nigeria’s vast landmass.

He emphasized that the project would traverse diverse topographical areas and benefit nine states along its route.

The highway will connect regions at both the national and international levels, serving as a vital link between South West, South East, South-South, Niger Delta, and other regions.

It will also integrate with existing federal roads, promoting economic and social development across the country.

In Rizk’s words: “We are connecting nine states and this road.

“In addition to the integration at the national level for Southwest and Southeast, South-South and Niger Delta, it connects with the Federal Roads going from Lagos to Sokoto.

“From Warri to Kaduna, from Port Harcourt to Kano-Maiduguri, and from Calabar to Maiduguri.
“So as the Minister mentioned, we have this coastal highway that is more or less 10 to 12 kilometres away from the shorelines to consider the issue of erosion and the sensitive environmental areas.”
The Lagos-Calabar Coastal Highway will start at Victoria Island near Eko Atlantic City, pass through the Lekki Coastal Road, Lekki Free Trade Zone, and the Dangote Refinery, connecting Ogun, Ondo, Delta, Edo, and reaching Calabar, Rizk explained.

Furthermore, he detailed how the project considered health, safety, and environmental factors, particularly in oil-producing areas.

Resign Now, You Have Become A National Embarrassment - Atiku Camp Slams Tinubu

The camp of the 2023 presidential candidate of the Peoples Democratic Party (PDP), Atiku Abubakar has called on President Bola Tinubu to resign from office over the controversy surrounding his academic record with the Chicago State University.


Atiku’s media aide, Paul Ibe who made the call said the issue regarding Tinubu’s academic record has become a national embarrassment.

The aide was of the opinion that Tinubu had made Nigeria and Nigerians a laughing stock at the international level and the only way for him to rectify it is by resigning.

He made the call ahead of the resumption of the court case on Monday in a petition in which Atiku’s legal team is seeking a court order for the Chicago State University to release Tinubu’s academic records.


It would be recalled that a United States District Judge, Nancy Maldonado, had on Thursday agreed to stay an order directing Chicago State University to make Tinubu’s academic document available to Atiku’s legal team after the president’s lawyers filed an emergency motion seeking a delay in the implementation of the order directing the CSU to comply with Atiku’s subpoenas till Monday.

Reacting to the development, Ibe said no matter the delay tactics employed by Tinubu and his legal team, the academic records would be released.

“If Tinubu is a first-class graduate like he claims, it will be in his best interest and that of over 200 million Nigerians, for him to take a first-class decision of resigning. This is the only way that he can save Nigeria and its people of this embarrassment and laughing stock that it has become.

“He is a national embarrassment, a regional embarrassment, a continental embarrassment, and an embarrassment to the Black race. If he still has any modicum of respect for himself and the people he claims to be leading, he should resign as President with immediate alacrity. No matter how long he tries to stall the process, the records that he has been hiding from Nigerians for decades will be discovered. He needs to be reminded that the United States is not Nigeria” Ibe told This Day on Saturday.


Atiku’s aide further accused Tinubu of plunging Nigerians into hardship with his economic policies.

“Look at the issues of the value of the Naira and the exchange rate. The meeting of the Central Bank Monetary Committee has been postponed. Things are just grinding to a halt. Nothing is happening because the committee that is supposed to provide the economic policies is not working.

“Nigeria is now on auto pilot and like a sick person receiving drips in the hospital. Things are just bad,” he added.

Nigerians Should Be Worried

Speaking further, Ibe said Nigerians should be worried about why Tinubu is fighting tooth and nail to keep the details of his academic records with Chicago State University a secret.

“Nigerians have become the butts of the jokes. Mind you that one out of every five black men in the world is a Nigerian,” he said.

Ibe added that Tinubu’s academic record has monumental implications for Nigerians.

“If for any reason you want to change or get a new job and the new employers want to do due diligence, you write your alma mater to release your credentials to your would-be new employers. This is the case with the APC presidential candidate in the last presidential election, why should Bola Tinubu stop his school from releasing his credentials to the public?

“This is what should agitate the minds of Nigerians,” Atiku’s media aide submitted.

Saudi Arabian Crown Prince Mohammed bin Salman stated in a U.S. television interview that his country was moving closer to normalising relations with Israel. He also expressed concern about Iran potentially acquiring a nuclear weapon and mentioned that if Iran were to obtain one, Saudi Arabia would feel compelled to do the same for security reasons and to maintain balance in the Middle East.

In an interview with Fox News, the crown prince mentioned ongoing talks aimed at establishing diplomatic relations between Israel and Saudi Arabia, viewed as significant progress. These talks are part of broader negotiations covering U.S. security assurances, civilian nuclear assistance, and potential Israeli concessions to the Palestinians.

Addressing the importance of the Palestinian issue in the normalisation process, the crown prince emphasised the need to find a resolution and outlined Saudi Arabia's negotiation strategy. He highlighted the desire for Israel to play a positive role in the Middle East and contribute to improving the lives of Palestinians.

Naira Crosses N1,000/$ In Black Market.

The foreign exchange crisis in the country worsened on Thursday as a dollar exchanged for over N1,000 at the parallel market, Daily Trust reports. Survey…

The foreign exchange crisis in the country worsened on Thursday as a dollar exchanged for over N1,000 at the parallel market, Daily Trust reports.

Survey at popular black markets in Lagos indicated that a dollar exchanged for between N1,000 and N1,050 in the early hours of Thursday, before settling for N990 in the evening, indicating a difference of N252 from the Investors & Exporters FX window, where the naira closed at N738.

The gap between the official and parallel market has steadily widened, since the Central Bank of Nigeria (CBN) announced unification of all segments of the foreign exchange markets in June.

However, despite the unification policy, the parallel market has continued to witness patronage due to the scarcity of the greenback at the official market, according to operators.

“There is scarcity at the market,” said Ismail Muhammed, one of the operators at Allen Roundabout.

“We are now buying dollars for N990 but earlier in the day, it was sold for N1, 000. Some people exchanged it for N1, 050,” he said.

Another operator, Alhaji Abdullahi Olugbede, said that the surge was caused by the scarcity as most licensed Bureau De Change Operators do not have dollars to trade with.

“When there is scarcity, the dollar will go up against the naira but we are not happy. We should pray that it will come down because this is not good,” he said.

Experts have warned that the implications of the depreciation of the naira in the black market are negative as it will adversely affect the economy.

Professor of Accounting and Financial Development at Lead City University, Ibadan, Godwin Oyedokun, said it will make it difficult to do business in Nigeria because of the relevance of exchange rate in the economy.

“I am not currently in the country. Let me cite an example, I wanted to buy a can of coke today in Jordan. I could buy the same can of coke for $2 that is almost N2, 000 if a dollar exchanges for N990 in Nigeria as you said. This is just because the strength of our currency is very weak.

“The implication is that goods that Nigerians should get from abroad, let’s say if dollar to naira is 1/1, Nigerians will now spend as high as 990 minus 1; that is, goods worth N300,000 will now be worth times 990 of it. So, it makes it so difficult to do business. Every sector of the economy will adjust to this and will make the price of commodities become costly,” he said.

The tax and forensic expert, however, said, the pressure on the naira will reduce if the government implements the right policies and also boost local production so that Nigeria can also earn more foreign exchange.

“The only way to address this is to have the right policies in place which the current government is doing and have things that we can also export to earn foreign exchange. The finance minister and the new CBN governor will need to think about how the fiscal and monetary policies can work together effectively so that we can have a country of our own. It will interest you that Jordan’s currency, Jordanian Dinar, is higher than the dollar, it is about $1.41. If we get the policies right, the pressure on the naira will reduce,” he said.

Economist and former Director General of the Lagos Chamber of Commerce and Industry (LCCI), Dr Muda Yusuf, said that among others, it will have an effect on inflation as the economy is very sensitive to exchange rate movement.

“The implications are very negative to put it mildly because it shows there are some fundamental challenges that we still need to deal with that are driving the exchange rate. We need to further interrogate how deep the parallel market is and what percentage of economic activities are being funded by the parallel market.

“We need that research, we need that data because each time we talk about the exchange rate, people don’t even talk about the official rate anymore, we just talk about the parallel market,” he said.

Citing the likely effects on the different sectors of the economy, he said, “Diesel price has gone up, gas price is likely to go up. The PMS is under pressure and should have gone up if not for the fact that the president said that NNPC should hold on, otherwise petrol price should have jumped to over N800 by now.”

Dr Muda, who is also the Chief Executive Officer, Centre for the Promotion of Private Enterprise (CPPE), said that some extraneous variables including money laundering might be responsible for the pressure on the naira.

“I think there are some extraneous variables that have not been captured in our analysis because this speculative assault on the naira is not looking ordinary anymore. I am beginning to worry that perhaps, there are quite a number of illicit funds that are putting this pressure on the Naira because how many manufacturers can continue to buy dollars at this rate? And yet it keeps going up and people are buying it. How many people with genuine income or resources can do that? It is possible there are factors around money laundering, possibly people have loads of naira they are seeking to convert to dollars,” he said.

While noting that the current pressures have defied the forecasts of many economists when the unification policy was introduced, he counselled the government against jettisoning the policy.

“The government can’t afford to be chasing the parallel rate at this time because the situation will become worse. It means they have to move the official rate from N700+ to N800 or N850. The situation now is not responding to the kind of forecast that many of us predicted. This is not the kind of impact we thought convergence will have because on the face of it, convergence normally encourages more inflows and should normally reduce demand,” he said.

Financial analyst, Abiola Rasaq, who said that the backlog of demand in the system continues to put pressure on the naira, however, said the positive outlook for oil price will likely strengthen the country’s currency against the dollar.

“The market is still somewhat speculative, especially as autonomous supply of FX is still weak whilst demand remains relatively elevated. More so, the backlog of demand in the system continues to put pressure on price. Interestingly, we are close to the end of the seasonal Q3 demand cycle, thus the naira should have some respite. Even as FX supply may remain relatively weak, moderation in demand should help calm the pressure and provide relative stability to the naira in the rest of the ember months, especially if some of the efforts of the government towards improving oil export comes to fruition.

“Notably, the positive outlook for oil price is also supportive of stronger naira in the months ahead, especially if oil export is complemented with steady rise in non-oil exports,” he said.

President Bola Tinubu recently nominated a banking executive and former civil servant, Olayemi Cardoso to serve as the new governor of CBN.

Tinubu also approved the nomination of Emem Nnana Usoro, Muhammad Sani Abdullahi Dattijo, Philip Ikeazor and Bala Bello as deputy governors of the apex bank, for a term of five years at the first instance, pending their confirmation by the Nigerian Senate.

It is unclear if the former CBN governor, Godwin Emefiele, who was suspended and has been in detention since June, has resigned.

New Details Emerge as NERC Stands on November 2024 Prepaid Meter Upgrade Deadline.

Prepaid meter users across Nigeria have been advised to take their meters for upgrading before November 2024 NERC, the electricity regulatory agency has stressed the importance of the upgrade as a one-time process. Consumers need not worry as the upgrade will not affect their reserved units nor make their meter run faster.

The Nigerian Electricity Regulatory Commission (NERC) has issued a directive for prepaid meter users in the nation to ensure the update of their meters prior to November 2024. NERC has emphasized the importance of prepaid meter users contacting their respective distribution companies (DisCos) to initiate the meter upgrade process. 3.4K NOW PLAYING A portion of the Nigerian population raised concerns about the motive behind the update, contending that it could serve as a mechanism for increasing electricity tariffs.

Additionally, some individuals voiced apprehension that the upgrade might introduce malicious software that could potentially disrupt the functionality of certain prepaid meters. In this article, Legit.ng breaks down all you need to know about NERC’s planned meter upgrade. The update will not affect the units in your meter nor make your meter run faster than usual.

Why is NERC requesting upgrade of prepaid meters?
In its announcement, NERC highlighted the necessity of updating prepaid meters, aligning with the global trend in prepaid meter technology. The regulatory agency underscored that by November 2024, STS (Standard Transfer Specification) standard meters would undergo a significant transformation referred to as "Roll Over." Consequently, it is imperative that all meters are upgraded to meet specific standards before this deadline. To address the occurrence of TID (Token Identifier) rollover, all meters will require key change tokens with the rollover bit activated.

These key change tokens will be provided by Utility Companies, and when inputted, this process will prompt the meters to reset the TID stack memory to 0 while simultaneously changing the meter key. Moreover, each credit token contains a unique token identifier (TID) encoded within its 20 digits. This TID serves to prevent token replay at the meter. The Token Identifier is a 24-bit field found in STS-compliant tokens, responsible for identifying the date and time of token generation.
This information is used to determine whether a token has previously been utilized in a prepaid meter.

How to do the meter updating process.

In relation to the updating procedure, NERC has outlined that consumers will receive two complimentary Key Change Tokens (KCT) from their individual electricity distribution companies (DisCos). These tokens will be distributed to consumers in a manner similar to their electricity token purchases. To effect the update, consumers will input these tokens into their meters, following the same process used for entering their electricity tokens.

Upon acceptance of the token by the meter, an automatic upgrade will be initiated. NERC has also extended advice to all prepaid meter users, encouraging them to contact their respective DisCos for additional details regarding the updating process.

Units in meter remain untouched.

Nigerian Electricity Management Services Agency (NEMSA) has assured prepaid meter users that their reserved units at the time of the upgrade will not be touched. This means whatever unit is found in the meter before the upgrading will definitely remain after the process is completed and it will not result in any acceleration of its usual operational pace.

Upgrade is a 1-time process.

The regulator has also hinted that the upgrade is a one-time process as customers will likely never be asked to come for a repeat of the process in the nearest future.

Meter upgrade is free of charge.

While it has also assured prepaid meter users that the upgrade is totally free of charge, NERC advised users to get in touch with their respective electricity distribution companies (DisCos) for more information on the process.

Deadline for meter upgrading NERC has stated that the deadline for the upgrade is November 2024. It expects that all customers must have completed this process before then. Any prepaid meter that doesn't undergo the upgrade at the expiration of the deadline, will no longer work and users will not be able to recharge, resulting in a loss.

NERC Orders DisCo to Open Customer Care Centres.

In related news, Legit.ng reported that NERC issued a mandate to electricity distribution companies (Discos) to create customer engagement platforms. Discos are required to establish these platforms within the upcoming three months, starting from September 1, 2023.

This directive was communicated through a document issued by NERC, identified as order number NERC/2023/006, under the title 'Order on deployment of customer engagement platforms.' The responsibility of funding the deployment of these customer engagement platforms is expected to be borne by the Discos themselves, with NERC emphasizing its commitment to monitoring the implementation of this order to ensure compliance by the Discos.

UncleKoboko:
Thunder fire ghàna
They are yet to have constant electricity in their country and they want to export to Nigeria

They think Lagos is the only Nigeria

Forget all these social media lies. Ghana does not have constant electricity yet in their country. Some places don't even have light at all for many years

Ghana has already achieved a remarkable 80% to 85% universal energy access within its borders through robust policy formulation and implementation

JagabanB:
U folks really need help, does Ghaña have 100% electricity?
Where do they supply the electricity to?

Ghana has already achieved a remarkable 80% to 85% universal energy access within its borders through robust policy formulation and implementation

Ghana plans to export electricity to Nigeria.

Ghana is actively strategizing and implementing policies and initiatives to advance its power sector to achieve “100% universal energy access” and potentially export electricity to its “big brother” neighbour, Nigeria.

Mr. Hanson Monney, the Head of the Generation and Transmission Unit at the Ministry of Energy in Ghana, conveyed this during his presentation in Lagos on the 2nd Day of the Nigeria Energy Leadership Summit.

Monney highlighted that Ghana has already achieved a remarkable 80% to 85% universal energy access within its borders through robust policy formulation and implementation.

In his words,
“So, we are working on all these things to make sure that the power system of Ghana continues to be as good as it is or even better, and then, maybe, we can be exporting more to our big brothers in Nigeria when the grid is finally settled.
So, ladies and gentlemen, this is an overview of the Ghana power system and challenges.”
This statement comes in the wake of Nigeria, Africa’s largest nation and leading oil producer, experiencing its second national electricity grid collapse, resulting in a complete blackout for homes and businesses.

In contrast, Ghana is actively pursuing various energy options, including grid energy, mini-grids, and solar-dominated renewable energy, to achieve “Universal access to energy by 2024” as directed by the country’s President.

Challenges of Ghana’s electricity industry
Monney acknowledged that achieving universal energy access in Ghana, especially in remote islands, riverside, or lakeside communities, presents significant challenges due to geographical constraints. To address this, he noted,

“So, now, we are trying to scale our renewable energy access, and that is how we have planned in 2022 to scale up our renewable energy program.”
Tariff problem
One of the foremost challenges in Ghana’s power sector is financial sustainability, as the government grapples with mounting debts and excess capacity procurement.

Monney stated,
“There is so much debt that the government has to shore up to make sure that the system is afloat because we have procured a lot of excess capacity, which comes with attendant costs. So, these financial challenges require some policy actions to eliminate legacy debts.”
High electricity tariffs are also a significant concern in Ghana, and Monney expressed the importance of making electricity more affordable, especially for industries.

He explained, “We saw that in Ghana historically.

These industries have been subsidizing the residential sector, and it should be the other way around. Industries should remain viable so that businesses can thrive.” Monney indicated ongoing efforts to rationalize tariffs to rectify this issue.

Gas supply challenge
Additionally, Monney highlighted the issue of gas supply security in Ghana and expressed gratitude to Nigeria for consistently supporting their gas supply needs.

He noted that while Nigeria provides gas from the east, more measures are necessary to ensure a consistent fuel supply.

Currently, Ghana is facing an 80-day shutdown of its gas supply, significantly affecting the power sector.

Despite these challenges, Monney affirmed that the Ghanaian government is actively taking steps to address them and continue advancing the electricity sector in the West African nation.

He emphasized Ghana’s holistic approach, involving collaboration among regulators, the private sector, and various stakeholders, and mentioned the existence of an “Integrated Power Sector Master Plan” to consolidate long-term plans for the sector.

If you live in Nigeria and are a citizen, you should not have any reason to pay an agent to get your Nigerian passport processed, whether it’s an entirely new one or a renewal.

This is because the Nigerian Immigration Services has provided an easy-to-use and efficient online registration platform that will save you from the struggles and extortions that used to be the order of the day.

Now that you are on this page, we will show you how you can register and obtain your new Nigerian passport by yourself.

Some Nigerians are departing to study overseas, pursue a new work, or begin a new life. The bottom line is that if you want to join the bandwagon, you must have your passport. Without a passport, you cannot apply for international jobs, send school applications, or make any form of relocation plans. It is used as a proper identity and travel document for visa applications, border crossings, and other official activities associated with overseas relocations.

How Can I Obtain A Nigerian Passport?

When you decide to get a Nigerian passport, you can either go through an agent or register online. Most people make the claim that they are available to visit the immigration office or see an agent who can assist them. However, there is a better way; you can apply for your passport online. As long as you have all of the necessary documentation, the process is simple. However, there are a few things you should know before registering online:

Do you require a child’s passport? Is it better to have a regular passport or an official passport? It is critical to understand because prices vary and you require that information.
Choose whether to replace or rent your passport.

People update their passports because they have lost or damaged them and need a new one. However, if you are renewing your passport, that indicates you already have one but it is about to expire.

Find out how long the passport you’re applying for will be valid.
If you are an adult, you can keep your Nigerian passport for ten years before having to renew it, however children under the age of 18 can keep their passport for five years.

Keep in mind that you must make an appointment.
Even if you register online, you must attend the immigration office on a specific day and time to have your photograph taken.

How To Apply For Nigerian Passport Online.


Follow these simple steps to register online:

Navigate to the Nigeria Immigration Service (NIS) passport application portal.

The procedure takes you through several steps, beginning with obtaining information on your passport type and ending with obtaining information about your next of kin.

You will be asked to select a processing state and office; be sure to select the place closest to you to alleviate any transportation stress.

Fill in your selected booklet type and validity period as well.

Pay close care when entering your contact information and that of your next of kin to prevent making mistakes during the registration process.

The relevant pricing will be listed on the page depending on the type of passport and booklet you desire.

Select your payment option and wait for it to be confirmed.

You should receive an appointment date at the end of your registration.

Make a copy of the slip with your appointment date on it.

Show up at the passport office (assigned to you) on your appointment day to get your photograph and biometric taken.