Business
Edo Community Kicks Over Relocation Of Aerodrome By Edo Govt

Okpella community in Etsako East Local Government Area of Edo State is poised for war with the State Government over alleged relocation of the proposed airport project in Edo North Senatorial district of the state.
The community spokesman, Chief Richard David, in a press conference on Sunday, stated that there was already a plan by BUA and Dangote to build an aerodrome in the area, calling on the state government to support the project instead of getting approval for another airport in Etsako West.
David stated that BUA and Dangote were planning to build the aerodrome in Okpella because of their huge investment in the area which has propelled development in the community
The community also expressed surprise that a letter from the Federal Mjinistry of Aviation dated 16/12/2021 with reference number FMA/ADD/402/5.42/C.9/12 conveying approval for an airport project, wrongly mentioned Okpella as being part of Etsako West Local Government Area.
He said they had expected something to be done to correct the anomalies by the FMA but unfortunately nothing was done.
He lamented that despite the immense contribution of Okpella to the economic sustenance of Edo, the community remains the most marginalized in infrastructural consideration.
He said, “It was a thing of joy to the people when the BUA group hinted that it had started the process of setting up an aerodrome in Okpella for which appropriate modalities of location of suitable site, soil tests and payment of compensation to crop owners had been completed.
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“We had expected the government to back this process instead of initiating a fresh move for another airport and erroneously mentioning Okpella as the site.
“We had also expected that the government will commit resources to set up auxiliary infrastructure like access road to and fro the aerodrome, supply of water, improved power supply and others.
“To our surprise, a letter from the federal ministry of Aviation dated 16/12/2021 with reference number FMA/ADD/402/5.42/C.9/12 conveying approval for an airport project, wrongly mentioned Okpella as being part of Etsako West Local Government Area.
“We had expected something to be done to correct this but nothing was done. This action of the FMA, the silence of the Etsako East Council and the body language of the State Government have angered our youths and generality of the community.
“We are sure that the same investors trying to build the airstrip will be used to source for funds for this proposed airport by the state government. But we demand that the investors be allowed to continue with the ongoing project in Okpella.
“We have been appealing to and pacifying our youths, who have been visibly restive and suspicious of government action on this project.
“But if the project is stopped and taken to another place, we cannot quaranteed the peaceful coexistence between the investors and the community unless Okpella ceases to be their host community.”
Business
Naira Records First Appreciation Against US Dollar As Foreign Reserves Hit $46.7bn

The Naira recorded its first appreciation against the United States dollar at the official foreign exchange on Tuesday this week.
The Central Bank of Nigeria’s data showed that the Naira strengthened on Tuesday to N1,447.43 per dollar, up from N1,448.03 exchanged on Monday.
This means that the Naira gained N0.6 against the dollar on a day-to-day basis.
READ ALSO:Naira Records Second Consecutive Depreciation Against US Dollar
Meanwhile at the black market, the Naira remained unchanged at N1,465 per dollar on Tuesday, the same rate exchanged on Monday.
Checks on Nigeria’s foreign reserves showed that it has risen to $43.97 billion as of November 17th, 2025, according to the Central Bank of Nigeria’s data.
Meanwhile, the apex bank governor, Olayemi Cardoso, in an event on Tuesday, said the country’s foreign reserves rose to a seven-year high of $46.7 billion as of November 14.
Business
Dangote Sugar Announces South New CEO

Dangote Sugar Plc has announced Mr Thabo Mabe, a South African, as its new Group Managing Director and Chief Executive Officer.
This follows the sudden resignation of Mr Ravindra Singhvi, an Indian.
The company disclosed this in a shareholders’ notice on Tuesday, in compliance with Nigerian Exchange Limited regulations.
READ ALSO:21 Secondary School Students Arrested Over Cultism In Edo
Mabe’s appointment takes effect from December 1, while Singhvi’s resignation is effective from November 3ⁿ2025. The firm did not state a reason for Singhvi’s resignation.
“Mr Singhvi made significant contributions to the growth and transformation of the company and leaves behind a record of operational excellence,” the statement, signed by Mrs Temitope Hassan, Company Secretary and Legal Adviser, read.
Business
Naira Records Second Consecutive Depreciation Against US Dollar

The Naira recorded its second consecutive depreciation against the United States dollar at the foreign exchange market on Tuesday to continue the bearish trend this week.
The Central Bank of Nigeria’s data showed that the Naira further weakened on Tuesday to N1,438.71 against the dollar, down from N1,437.2933 exchanged on Monday.
This means that the Naira again dropped by N1.42 against the dollar on Tuesday on a day-to-day basis.
At the black market, the Naira remained flat at N1465 per dollar on Tuesday, the same rate traded on Monday.
READ ALSO:Naira Records First Appreciation Against US Dollar At Official Market
This is the second consecutive decline of Nigerian currency at the official market since the commencement of this week.
Meanwhile, the country’s external reserves had continued to rise, standing at $43.37 billion as of Monday, 10th November 2025, up from $43.35 billion on November 7.
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