Abiodun Alade

Jun 1, 2024 | theinsight.com.ng | Theophilus Abbah |Abiodun Alade

Key Points: Local manufacturing, key to Africa’s growth Africa now exports raw materials but import poverty Dangote invested $25bn in Africa in 7 years Plans to supply refined products to West, Central and South Africa By Abiodun Alade Africa is a resource-rich continent but relatively poor in terms of the manufacturing of goods.

Oct 31, 2023 | dailytrust.com | Hamisu K. Matazu |Abiodun Alade |Philip Clement

As the December 31 deadline for the use of the old N200, N500 and N1000 banknotes approaches, scarcity of cash has been noticed in Kano and Borno states, Daily Trust can report. The Central Bank of Nigeria (CBN) had announced in March that, in compliance with the order of the Supreme Court, the said banknotes remained legal tender alongside the redesigned banknotes until December 31.

Aug 16, 2023 | dailytrust.com | Sunday M. Ogwu |Philip Clement |Abiodun Alade

Nigeria’s Eurobonds drop Stabilise naira, fix refineries, marketers tell FG ‘License industry players to export crude, refined products’Amid the dwindling fortune of the naira, the Nigerian National Petroleum Company (NNPC) Limited and the African Export-Import Bank (Afreximbank) have jointly signed a commitment letter and term sheet for an emergency $3 billion crude oil repayment loan.

Aug 15, 2023 | dailytrust.com | Balarabe Alkassim |Sunday M. Ogwu |Clement Oloyede |Abiodun Alade

The dollar has crashed to between N805 to N790 at the parallel exchange market on Tuesday Daily Trust can authoritatively report. It started a steady decline from N925 to N930 that it was exchanged in the morning till around 4:00 pm when news about a possible Central Bank of Nigeria (CBN) intervention filtered through to the Bureau De Change (BDC) operators.

Aug 10, 2023 | allafrica.com | Sunday M. Ogwu |Clement Oloyede |Abiodun Alade

Abuja, Kano, Lagos — The naira plunged to a record low of N925/$1 on the parallel market yesterday as demand for foreign currency outstripped supply. This is the aftermath of liberalising the foreign exchange regime, which is a clear departure of what obtained during the Presidential Muhammadu Buhari- led administration.