Bread prices have gone up in some parts of Lagos, especially at shopping malls in the highbrow areas of Victoria Island and Lekki. This comes just as the Premium Bread-Makers Association of Nigeria announced that its members will be increasing prices to meet up with high cost of energy and foreign exchange. Lasgidi FM’s Najite Atirene spoke…
Plans are being made to assist rural communities and small-scale farmers in areas affected by conflict in Nigeria to scale up their production. Aside achieving self-sufficiency in food production, other goals include to produce enough food for export and to upon up rural communities in conflict areas for development. Nigeria’s Vice President, Professor Yemi Osinbajo, is to…
Kenyans will now pay more for fuel as the Russian invasion of Ukraine continues to affect the price of crude oil and refined products. The East African country’s petroleum regulator said the price of petrol and diesel will increase by five Kenyan shillings. The fuel prices regulator said the price of kerosene which is used in many…
The Nigerian National Petroleum Corporation has announced that Aviation jet A1 fuel will be sold at five hundred naira per liter within the next three days to prevent airlines from shutting down. NNPC’s Group Managing Director, Mele Kyari made this known after a meeting with marketers, regulators and operators in the aviation industry. The meeting, which was…
The Central bank of Nigeria has introduced a cash collection centre to enable it reduce cost and improve operational efficiency in the country’s cash management. The CBN disclosed in a guideline that the new cash centre which would be known as ‘Bank Neutral Cash Hubs’, will serve as central cash deposits points. CBN said the cash centres…
Deposit Money Banks in Nigeria have announced temporary suspension of overseas ATM card services and POS transactions. Some of the banks in an email to their customers, attributed the adjustment to dollar scarcity and challenges faced by manufacturers in sourcing foreign exchange from the economy. The banks added that the move was in line with current economic…