The Federal Government has announced that the demolition of buildings situated within the right of way of the Lagos-Calabar coastal road will commence this Saturday. The Federal Controller of Works in Lagos State, Korede Keisha, disclosed this during a press briefing held in Lagos on Thursday.

Minister of Power, Adebayo Adelabu, disclosed that the Federal Government (FG) has commenced the unbundling process for 11 electricity distribution companies (DisCos) along state lines. The minister who made this disclosure while hosting the Senate Committee on Power, led by their Chairman, Senator Eyinnaya Abaribe, in Abuja on Monday, stated that the reason for the unbundling is for better efficiency.

After ranking as the second worst currency in February 2024, the naira has surged to become one of the top-performing currencies in recent weeks, all thanks to its bullishness despite the dollar's recent aggressive climb. Early in the day, the Naira opened at some areas of the parallel market below N1000 to a dollar. Experts claim that through several FX reforms and interventions, the Central Bank of Nigeria (CBN) has liberated dollar liquidity and is the primary cause of the Naira's bullishness.

President Bola Tinubu has approved the first phase of the Consumer Credit Scheme to begin, with the aim of empowering Nigerians and improving quality of life. Presidential spokesman Ajuri Ngelale's statement indicated that working Nigerians interested in receiving consumer credit can visit CREDICORP's website and express their interest before the May 15, 2024 deadline.

The Central Bank of Nigeria, CBN, has approved the sale of an additional 10,000 dollars to 1,583 eligible Bureaux De Change, BDC, operators in the country to meet market demands. The CBN’s Director, Trade and Exchange Department, Dr Hassan Mahmud, made this known in a letter addressed to the President, Association of Bureau De Change Operators of Nigeria, ABCON, on Tuesday in Abuja.

The Naira, yesterday, depreciated in its value agasint the US dollar to N1,250 in the parallel market, from N1,140 per dollar on Thursday. Similarly, the Naira depreciated in the Nigerian Foreign Exchange Market, NAFEM, to N1,234.49 per dollar. Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,234.49 per dollar from N1,169.99 per dollar last week Friday, indicating N64.5 depreciation for the naira. Consequently, the margin between the parallel market and NAFEM rates narrowed to N15.51 per dollar from N29.99 per dollar last weekend.

One of the major satellite television service in Sub-Saharan Africa, Multichoice, has announced an increase in prices of its packages on DSTV and GOtv.

Dangote Refinery has announced a reduction in the price of diesel. The new price for customers buying 5 million litres and above is N940/litre, as opposed to the previous price of ₦1000/litre. For customers buying one million litres and above, the price is ₦970/litre. Additionally, the company has set the price of aviation fuel at N980 per litre. The announcement was made by the Head of Communications, Mr. Anthony Chiejina. According to him, the new prices are aimed at alleviating the economic hardship faced by citizens.

President Bola Tinubu has approved the appointment of several Nigerian professionals to the Board of the Securities and Exchange Commission (SEC). The announcement was made in a statement issued by Ajuri Ngelale, Special Adviser to the President on Media and Publicity. Mr. Mairiga Aliyu Katuka has been appointed as the Chairman of the board of SEC, while Mr. Emomotimi Agama has been appointed as the Director-General of the board.