SimpleByNature:


So all along the fg know that they are over taxing the masses. Even the f00lz that are supporting them know. Yet, tribe and religion won't allow them think like human beings.
So because of the planned protest they now know the right thing to do. Yet, the f00lz will also enjoy from the changes brought by the fear of the planned protest. 1diots

The naira continued its decline against the dollar on the foreign exchange market on Monday.

FMDQ data showed that the naira further weakened by N2.11 to N1,611.40 per dollar on Monday from N1,609.29 traded last Friday.

Similarly, the naira-to-dollar exchange rate at the black market dropped by N5 to N1,600 on Monday from N1,595 traded last week.

This development comes despite the Central Bank of Nigeria’s sales of $148m to 29 authorised FX dealers last week.

DAILY POST reports that within the last two weeks, the Central Bank had sold $254.5 million to legitimate FX dealers.

iwaeda:


Who do you believe. How will investors come? Policy formulation is key to attracting investments. When you have kids running the show.

Wisdomkosi:


Source : https://igberetvnews.com/1470070/unknown-gunmen-kill-four-policemen-imo-state/

The Nigerian Airspace Management Agency has suspended its earlier announced increase in navigational charges.

This was made known through a statement by the Director of Public Affairs and Consumer Protection of NAMA, Abdullahi Musa, on Monday.

The NAMA spokesman noted that the backtrack by the agency was in response to the directive of the Minister of Aviation and Aerospace Development, Festus Keyamo.

Musa added that the decision follows the Minister’s recognition of the current economic challenges faced by Nigerians.

Last Friday, NAMA announced its intention to raise its navigation charge by 800 per cent, a decision that raised concerns from both passengers and stakeholders in the aviation sector.

Musa further noted that the minister emphasised the need for further consultation before implementing any changes, highlighting the importance of being sensitive to the plight of Nigerians amidst these economic challenges.

Commuters plying the Keffi-Abuja expressway were on Monday left stranded after military officers barricaded the highway to conduct a stop-and-search operation on vehicles entering the nation’s capital.

The soldiers mounted a road block at Sani Abacha barracks before the popular AYA roundabout.

Security agencies did not give any prior warning before to the blockade that has caused a gridlock extending as far as Nyanya Bridge, more than 12 kilometres from the checkpoint.

Civil servants and traders who work in the Federal Capital Territory (FCT) live outside the city centre in places such as Nyanya, Karu, Maraba and Masaka.

After hours of standstill, many of them were forced to return home.

This is coming three days to the planned nationwide protest over the current economic hardship in Nigeria.


Some youths are planning a nationwide protest from August 1 against the rising cost of living and economic hardship in the country.

DesChyko:
A recent rebuttal by Oando was based on the fact that Ras Hanzir does not exist in the business registry of Malta. It was dismissed as being fictitious.

It turns out that Ras Hanzir does in fact exist as an oil facility. They were previously implicated in an investigative report on smuggled Libyan oil and its relationship with Malta which was well documented.

See two links to articles below describing their role in the oil scandal.

https://www.maltatoday.com.mt/news/national/100700/enemed_tanks_stored_smuggled_libyan_oil_brought_by_debonos_ships_investigation

http://stories.publiceye.ch/dirtyoil-libya/

A screenshot from each of these links are this attached.

If Oando's denial is based on this fact check, we may as well agree that it does not hold as it was not a thorough fact check.

Ras Hanzir exists.

JASONjnr:
Lol.,...

Who paid BBN to advertises for the show, to divert Nigerians attention from the protest?

I noticed nobody talking about it.......

This has resulted in transport fares increase by commercial bus drivers — danfos and koropes — within the city.

Consequently, fuel queues have resurfaced with most filling stations shut, as motorists struggle with the skyrocketing fuel prices. It has gone as high as N850 in some filling stations.

This is coming barely six days to the commencement of the planned nationwide protest over economic challenges.

By last Friday, yesterday, fuel queues had started to get longer within the metropolis, with few fuel stations dispensing.

N950 per litre
On Saturday, besides Nigeria National Petroleum Corporation, NNPCL Limited Ltd.-branded fuel stations selling at N650 per litre, other independent marketers are selling between N850 to N950.

It was discovered that many filling stations which seemed to have run out of stocks, were seen under lock and key.

Others shut their gates against motorists and other users of petroleum products who were hoping to get some.

With those stations selling the product to buyers, there were long queues as panic buying continued. This resulted in gridlock along the roads where filling stations were dispensing.

Men of the Lagos State Emergency Management Authorities, LASTMA, deployed seemed overwhelmed as they could not effectively contain the high influx of motorists searching for the product.


… enter black marketers
As a result, black marketers have taken advantage of the situation. They were selling the product to desperate motorists at exorbitant rates of up to ₦1,000 to ₦1,400 per litre.

Black market dealers were seen hawking the product at Egbeda, Ikotun, LASU-Iba Road, Ikeja, Agege, among others.

A danfo driver, simply identified Mr.Jude Akpan, who spoke to Vanguard, lamented that he spends twice the usual amount on fuel to fill his vehicle for one trip.

“So he has passed the cost on to passengers.


“I bought N850 per litre from a filling station this morning after several hours in the long queue.

“I bought 20 litres for N17,000, which can hardly take me two trips from Ikotun to Oshodi.”

Investigation showed that Ikotun to Egbeda, which used to be N200, is now N500, while Iyana-Ipaja is N700, depending on the bargaining power of passengers.

Also, vehicle owners and other fuel users lamented the scarcity. They said it could worsen in the coming weeks if authorities did not address the cause of the shortage.

The naira crossed the N1,600 mark against the dollar at the official foreign exchange market on Thursday.

FMDQ data on Thursday showed that the naira depreciated to N1,603.80 per dollar on Thursday from N1,586.71 traded on Wednesday, recording a N17 loss.

Similarly, at the black market, the naira further depreciated to N1,593 per dollar on Thursday from N1,585 exchanged on Wednesday.

The figures from both official and parallel foreign exchange markets showed that the naira declined further against the dollar and other FX.

DAILY POST reports that this is the fourth consecutive time the naira is depreciating against the dollar, despite the Central Bank of Nigeria’s intervention last week.

The development comes despite CBN’s sales of $106.5 million FX to authorised dealers last week Thursday and Friday amid a demand surge.

The Naira yesterday depreciated to N1,575 per dollar in the parallel market from N1,565 per dollar on Tuesday. However, the Naira depreciated to N1,586.71 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,586.71 per dollar from N1,548.76 per dollar on Tuesday, indicating N37.95 depreciation for the naira.

How 'pregnant' passenger stole my car, made me unconscious - 43-yr-old man narrates experience0:00 / 1:07

The volume of dollars traded (turnover) in the market fell by 39 percent to $171.03 million from $280.92 million traded on Tuesday.

Consequently, the margin between the parallel market and NAFEM rate narrowed to N11.71 per dollar from N16.08 per dollar on Tuesday.

bolabizzle:


source: https://www.reuters.com/world/africa/facebook-removes-63000-accounts-nigeria-over-sextortion-scams-2024-07-24/

Kobojunkiee:


https://www.youtube.com/watch?v=PEvSnqGNcEI?si=80K3IxpQCRK7v8aK
Tinubu Calling on NIgerians to come out during JOnathans Regime

President Bola Ahmed Tinubu has asked those planning to protest against his administration’s policies to shelve their plan.

Addressing State House reporters after a meeting with the President on Tuesday, the Minister of Information and National Orientation, Mohammed Idris, declared that the President asked him to communicate to Nigerians, especially the youths, that he has listened to all their concerns, adding measures are already ongoing to address the challenges.

The Minister said, “We also discussed the issue of the country generally and Mr President has asked me to again inform Nigerians that he listens to them, especially the young people that are trying to protest.

“Mr President said he listens to them and takes what they say seriously; and he is working assiduously to ensure that this country is good not just for today but also for the future. The issue of the planned protest, Mr President does not see any need for that, he asked them to shelve that plan and he has asked them to await government’s response to all their pleas, he has listened to them.”

The Minister said a lot is happening already, saying “Only today the NASS has expeditiously passed the bill on National minimum wage. You can see how the President is working. The bill was transmitted only yesterday and today it has been passed. A lot of other interventions that the President has put in place are also going to be looked at expeditiously in the interest of Nigerians, so there is no need for strike {protest}.

“The young people out there should listen to the President and allow the President more time to see to the realization of all the goodies he has for them.”

Highlighting other policies aimed at cushioning the effect of hardship Nigerians are facing, the Minister said the government approved grains and rice for state governments, which was delivered to them, adding, “Like I said that time it is just the necessary first step, government is going to continue in that direction supporting them and assuring that whatever intervention the Federal Government has put in place go to those that should benefit, it is very important that is being put out.”

iwaeda:


Subsidy is Gone! Yet the landing cost of PMS According to official NBS is N1117, but we are still buying less than N1000, who is defraying the balance. Some as lickers will still tell us we can't comprehend what is written, Nlfpmod.

The Independent Petroleum Marketers Association of Nigeria, IPMAN, has said Nigeria’s fuel subsidy expenditure might cross N700 billion monthly.

The Secretary of IPMAN, Abuja-Suleja, Mohammed Shuaibu disclosed in a statement on Monday.

He was reacting to data released last Wednesday by the Major Energies Marketers Association of Nigeria, noting that the landing cost of petrol as of the preceding day was N1,117/liter.

Speaking to the MEMAN’s data, Shuaibu contended that the Nigerian National Petroleum Company Limited and the Nigerian government may not be telling the truth about the country’s fuel subsidy expenditure.

He warned Nigerians to be prepared for fuel pump price hikes.

“Petrol price is determined by the forces of demand and supply in the international market. When there is a global price increase, we should experience it in Nigeria.

“Therefore the N1,117/litre is not just based on our foreign exchange rate, but also the global PMS cost. The sole importer of this product is NNPC and the company is not telling us the truth.

“But data sourced by our counterparts, the major marketers, showed clearly that the landing cost of petrol is above N1,100/liter. This means that the monthly subsidy has crossed N700bn.

“That also means we should be prepared so that any time the price of petrol jumps, we should not be surprised because they have already told us,” Shuaibu stated.

However, the Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri on several occasions had insisted that fuel subsidies remain removed in Nigeria.

Further analysis showed that although petrol goes for between N617 per liter and N750 per liter depending on the location, dealers said the ex-depot price of the commodity by NNPC is N585/liter.

This brings the difference between the landing cost of N1,117 and an ex-depot price of N585 to N532.

According to the Federal Ministry of Petroleum Resources, petroleum consumption figures of 44.3 million liters in October 2023, multiplied by the estimated N532 subsidy paid on each liter of petrol, give N23.57 billion as the daily subsidy spending.

The figure of the estimated fuel subsidy thereby amounts to over N700 billion in 30 days.

This comes amid the impasse between Dangote Refinery and the Nigerian Midstream and Downstream Petroleum Regulatory Authority over substandard petroleum products.

Meanwhile, the Lokpobiri on Monday, presided over a meeting with the heads of the Nigerian Upstream Petroleum Regulatory Commission and Nigerian National Petroleum Company Limited.

Recall that the former governor of Kaduna State, Mallam Nasir El-Rufai, had claimed that the President Bola Tinubu-led Federal government is paying more on fuel subsidies than before.

Similarly, the President of the Trade Union Congress, Festus Osifo had also hinted at the government is applying a quasi-fuel subsidy on petrol.

iwaeda:


The noise will be so loud. From Zamfara, Lagos, Cross River, Adamawa same noise of hunger and hardship. Tinubu need to be weary of Onanuga and Co deceiving him.