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African Rechest Man Aliko dangote on his yacht for quiet Eid-El-Fitr celebrations (sallah) with Femi Otedola, Donald Duke, Tunde Ayeni, Otunba Niyi Adebayo, Sam Nwajoku and Segun Awolowo. See photos below

Price of Automotive Gas Oil (AGO), also known as Diesel, has crashed to about 42% nationwide, a huge downslide over the last six months, following key strategic interventions by the Nigerian National Petroleum Corporation (NNPC). It would be recalled that in the first quarter 2017, retail prices of AGO, which is one of the deregulated products, shot to an all-time high of N300/litre in major demand centres across the country. Such unpleasant situation placed a huge burden on truck drivers, who need the product for transporting their vehicles; the nation’s manufacturing sector, which requires it to run its operations as well as on the masses, who need it for household power generation. However, following strategic intervention efforts by the NNPC towards sustained improvement in the supply of the diesel, the product’s retail prices as at the end of May 2017 ranged from N175 to N200 across the country (a significant price drop of about 42%), while ex-depot prices also dropped to between ...

The Nigerian Naira on Thursday, June 15, retained its strength against the American Dollar, closing at N367/$1, the same amount it has been trading for the past 24 hours. The local currency also maintained the N465 to one Pound and N407 against the Euro rates, as it was on Wednesday, June 14. Recall that the Naira weakened to N370/$1 on Tuesday, June 13, after hitting its best rate of 2017 last week, trading at N362/$1. 

1. Libyan Dinar.     Libya is known for it vast deposit of crude oil. Currency of Libya, the Libyan Dinar is the strongest currency in Africa.   One (1) Libyan Dinar is equals to NGN 223. When compared  with  the dollar, one dollar is equivalent to 1.4116 Libyan dinars.   2. Tunisia Dinar.     The Tunisian Dinar comes in after the Libyan Dinar as the second most valuable currency in Africa. When compared to the Nigerian Naira, you will get NGN138 exchanged for one Tunisian Dinar. The exchange rate of this currency to the dollar, 1 US dollar is equivalent to 2.2814 Tunisian dinars.   3. Ghanaians Cedis.     West African country, one of the closest neighbor to Nigeria. Ghana, with a growing and well managed  economy . This has earned them third spot with the Ghanaian cedis has the their highest currency in Africa.   Also, many years back, their situation could not even be compared to what is obtainable in Nigeria but as...

The dollar yesterday crashed to N368/$ in the parallel market, after over three weeks at N382/$, representing N14 appreciation within the period. The exchange rate, which was confirmed by Aminu Gwadabe, president of the Association of Bureaux De Change Operators of Nigeria (ABCON), followed nearly $5 billion sustained intervention by the Central Bank of Nigeria (CBN) in the interbank market since February. He said the effectiveness of the CBN’s dollar injections in the interbank and the stability in the market require that the regulator reviews the rate band for bureaux de change (BDCs) downwards from N360/$ to $340/$. Gwadabe said the naira has remained stable across the board in the near term on increased dollar supply to both the official interbank window and the black market. It has been trading around N382/$ on the parallel market in the last two weeks, while at the interbank market the naira was trading at around N305.40/$.He said there is rapid elimination of speculation in the ...

Facebook C.E.O, Mark Zukerberg has also reacted to the Donald Trump’s decision to pull US out of the Paris climate agreement. According to Zuckerberg, withdrawing from the Paris climate agreement is bad for the environment, bad for the economy, and puts the next generation at risk. He wrote; “Withdrawing from the Paris climate agreement is bad for the environment, bad for the economy, and it puts our children’s future at risk. For our part, we’ve committed that every new data center we build will be powered by 100% renewable energy. Stopping climate change is something we can only do as a global community, and we have to act together before it’s too late.”