The Dangote refinery has reduced retail petrol prices to N841 per litre in Lagos and the Southwest states, while it is pegged at N851 per litre in Abuja, Edo, Kwara, Rivers, and Delta States.
On Thursday, a group of Nigerian soldiers who had been released from military service returned to Abuja to protest and demand payment of their rights. Following a meeting with representatives from the Ministries of Finance and Defence, who promised to pay the former soldiers' unpaid entitlements by August 10, the ex-soldiers canceled their protest on August 4.
The price of one standard cubic meter of compressed natural gas has increased from N230 to N450 due to lengthy lines and a lack of refilling facilities. Our reporter learned from merchants that the government had reduced its subsidies and revised the price to N450. Trucks pay N450/SCM, while commercial and automobile drivers continue to get some subsidies, paying N380 for a standard cubic meter of what the government claims is a less expensive substitute for gasoline and diesel.
According to Bayo Onanuga, President Bola Tinubu's Special Advisor on Information and Strategy, the economic changes his principal implemented are boosting the naira's reputation both domestically and abroad. Onanuga was responding to a story stating that certain Chinese merchants have started to take naira instead of US dollars while doing business with Nigerian clients. The success of Nigeria's currency swap arrangement with Chinese merchants, who are now collecting naira for its currency, the yuan, instead of dollars, has been credited by forex traders with the recent stability of the exchange rate, according to the article.
The Federal Government of Nigeria (FGN) has launched an online portal under the supervision of the Federal Ministry of Housing and Urban Development (FMHUD), where Nigerians can report fraud-related activities in the real estate sector, submit evidence, and also track the progress of their complaints.
President Bola Tinubu has approved the appointment of Rotimi Pedro from the South-West as the Director General (DG) of the Nigerian Television Authority (NTA), as well as executive directors.
