As Naira Gains, Builders, Estate Developers Reveal Update On Cost of Construction
By Miracle Ogunde As the Nigeria currency, naira continues to gain stronger against the United States Dollar both at official and parallel market, Nigerians expect that the prices of foodstuffs and other commodities would drop so as to ease the hardship facing the country. In regards to this, the building sector has continued to witness decrease in costs of building materials recently. In the latest development, Starnews NG gathered that there has been a decrease in the cost of building materials in the country. In a chat with one of the building Engineers, Engr Adeyemi Adetuwo, said, "Contrary to what
Lagos launches ‘Ounje Eko’, discounted prices for residents (See Full List)
Lagos Governor, Babajide Sanwo-Olu, has inaugurated ‘Ounje Eko’ food markets to offer discounted prices of items to residents. He directed that the food markets should start operations from Sunday, March 17 across the state. The markets have been tasked with selling discounted food items across the five divisions. The markets have been tasked with selling discounted food items across the five divisions. Food prices Here’s a full list of the produce prices at the food market: 5kg bag of rice – N5,325 1kg bag of rice – N1,065 5kg bag of Beans – N6,225 1kg bag of Beans – N1,245
NANS Calls for suspension of NLC, TUC proposed strike
The National Association of Nigerian Students, NANS, has appealed to the Nigeria Labour Congress(NLC) and the Trade Union Congress(TUC) to suspend their proposed strike in the interest of the nation. NANS National President, Mr Pedro Obi, made the appeal at a news conference in Abeokuta on Saturday. The NLC and TUC had on February 8 issued a 14-day nationwide strike notice to the government over the failure to implement the agreements reached on October 2, following the removal of the fuel subsidy. Obi noted that the association shared the pains Nigerians are experiencing, especially the
Tinubu Should have Waited Six Months Before Removing Petrol Subsidy– Prof Sagay
A Senior Advocate of Nigeria, Prof Itse Sagay, says President Bola Tinubu should have waited six months after his inauguration before removing subsidy on Premium Motor Spirit (PMS) also known as petrol. He made this known during a conversation around the future of Nigeria. The senior lawyer was a guest on Inside Sources with Laolu Akande aired on Channels Television on Friday. He said the sudden manner in which the President removed petrol subsidy in his inaugural speech on May 29, 2023 has created untold hardship. Sagay who was the Chairman of the Presidential Advisory Committee Against Corruption (PACAC) from
CBN stops granting loans to Federal Government
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said the apex bank will halt its Ways and Means loans to the Federal Government. Cardoso made this known on Friday while appearing before the Senate Committee on Banking, Insurance and other Finance Institutions, in Abuja. According to Cardoso, Ways and Means is a loan facility through which the CBN provides short-term financing to cover the government’s budget shortfalls. He further explained that the apex bank will no longer be a part of the Ways and Means agreement with the federal government until
BUA unveils plans to crash cement price from N5,000 to N3,500 per bag
There are assurances of a significant reduction in the price of cement in the coming weeks. This is as the chairman of BUA Group, Abdul-Samad Rabiu, has said that the company is set to reduce the price of cement in Nigeria. Rabiu disclosed this on Friday while speaking with journalists after meeting with President Bola Tinubu at the Villa. He revealled that to support the efforts of the government to crash the price of the product, the company would add two new plants at the end of the year or early next year. According to him, the plants to be
Nigerians Drag Dangote Over Reported Differences of Cement Price Across African Countries
Aliko Dangote, Africa’s richest man, is facing mounting criticism from Nigerians questioning the fairness of his business empire. With a total of 15,200 tweets at the time of this report, Nairametrics reports that Dangote Group’s leader has come under public scrutiny for the reported disparities in the prices of his cement products across Africa. According to X (formerly Twitter) discussions, there are claims that the billionaire offers cement to other African nations at a more reasonable cost. A user on the X platform, Nefertiti, pointed out that despite Dangote Cement’s production in Nigeria, it fails to offer the product at
Five Reasons Naira is Depreciating
The question in the minds of Nigerians today is why is the Naira depreciating or why is the exchange rate of the dollar rising rapidly? This is a valid question given the sharp and persistent depreciation of the Naira since June 14 when the Central Bank of Nigeria, CBN announced new operational measures in the foreign exchange market. Since then, the Naira has depreciated by 21 per cent to N930 per dollar in the parallel market, and by 66 per cent to N781.34 per dollar in the official market, namely the Investors and Exporters, I&E window. This is more
SHOCKING: Trader finds human penis in food bought from vendor in Lagos
Tension gripped traders at the popular Alaba International Market, Ojo, Lagos, last week Friday, when one of the traders found a human-like penis inside a food she bought from a vendor in the market. Following the strange discovery in her plate of soup, the middle-aged woman identified as Ebere, at GBO Plaza, in the market, raised an alarm which resulted in pandamonium, as anxious traders and customers thronged the plaza to see. According to reports, Ebere, who sells household items while eating the food she bought from a vendor, discovered that the meat in her plate of food had the
Petrol sells for N700 per litre in Nigeria
There was massive anger in Anambra State on Tuesday as commuters and motorists were hit by the sudden hike in the pump price of Premium Motor Spirit otherwise known as petrol from N530 to N700. This is just as motorists and other users of the product besieged various petrol stations and were buying the product in larger quantities in anticipation that the price might shut up to N800 from Wednesday. Our correspondent gathered that the petrol stations in the major cities of Onitsha, Nnewi and Awka sold the product at N530 per litre as of Tuesday morning before news of
