Shoprite To Leave Nigerian Market After 15 Years

Popular South Africa’s grocery retailer ShopRite has announced that it will exit Africa’s biggest market, Nigeria, 15 years after it opened its shop in the West African country.

CBN Suspends The Importation Of Maize

The Central Bank of Nigeria (CBN) has directed maize dealers to discontinue the processing of Form M for the importation of maize with immediate effect. The apex bank issued this directive on Monday in Abuja through a circular signed by its Director of Trade and Exchange Department, Dr. OzoemenaNnaji.

The World Food Programme (WFP) of the United Nations (UN) on Wednesday through a statement informed that Nigeria may loss 13 million jobs as a result of the COVID-19 global pandemic. WFP's Senior Spokesperson, Elizabeth Byrs who made the disclosure noted that more than $182m is needed to sustain life-saving aid to Nigeria over the next six months.

The federal government has announced a new price band of 140.80 to N143.80 per litre for Petroleum Motor Spirit (PMS), also known as petrol. The Petroleum Products Pricing and Regulatory Agency (PPRA), in a circular to marketers dated July 1, 2020, and signed by its Executive Secretary, Abdulkadir Saidu informed that “After a review of the prevailing market fundamentals in the month of June and considering marketers’ realistic operating costs, as much as practicable, we wish to advise a new PMS pump price band of N140.80 – N143.80 per litre for the month of July 2020.All markets are advised to operate within the indicative prices advised by the PPRA.”

Hadi Sirika, Minister of Aviation has on Wednesday disclosed that domestic flights at the Murtala Mohammed Airport, Lagos, and Nnamdi Azikiwe Airport, Abuja would resume on July 8, 2020. The minister in a tweet said the Lagos and Abuja airports will be the first to commence operations and other airports including Kano, Owerri, Port Harcourt, and Maiduguri to follow on July 11, 2020.

President Muhammad has approved the nomination of Nigeria's former two-term Minister of Finance and current Chairperson of Global Alliance for Vaccines and Immunization (GAVI), Dr. Ngozi Okonjo-Iweala, for the position of Director-General of the World Trade Organisation (WTO).

President Buhari, National Assembly, Agree Planned Electricity Tariff Hike Is ill-Timed

President MuhammaduBuhari, yesterday established common ground with the leadership of the National Assembly on the need to delay the planned increase in electricity tariffs. The National Assembly leadership had met on Monday with the Electricity Distribution Companies, DISCOs, wherein it was agreed that the planned new tariff scheduled to take effect today, July 1, should be postponed till the first quarter of 2021.

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) has consolidated its collaboration with the Australian government on mining and agriculture in other to boost the nation's dwindling mining sector and boost food security.

Following the expiration of the appointment of members of the Nigeria National Petroleum Corporation (NNPC) Board, which commenced in 2016,  President Muhammadu Buhari has approved the reconstitution of the board.

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