Business
FG Commences Construction Of First Aviacargo Village

The Federal Government through the Federal Airport Authority of Nigeria, FAAN, has commenced the construction of the first aviacargo village in the country.
This move according to FAAN is geared towards transforming the country into an export driven economy and also a hub for agro-export in Africa.
The cargo village occupies 27,000 square meters land mass, and can accommodate all the exports processes at the airport.
Vanguard had reported that since the introduction of air cargo system in the country, successive governments have failed to facilitate more export by air despite the availability of goods in the country.
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A reflection of the development shows that the sector’s share of total trade volume appears abysmal, as most aircraft leaves the country almost empty.
But, in reaction to the development, the Managing Director, FAAN, Mr. Kabir Mohammed, while speaking at the ground breaking ceremony stated that, establishing an aviacargo village was identified as one of the quick wins in addressing the rejection of agro-export from Nigeria and increasing the country’s exports and earnings.
He said: “The cargo village which is one of the proposed recommendations of the aviacargo road map committee, setup by FAAN, is meant to streamline the process of agro-export in the country and create a seamless operation from the farm to the airplane before it’s ferried abroad.
“By this ground breaking ceremony taking place today, you can agree with me that FAAN management is truly determined to implement your recommendations with a view to taking the rightful number one position in aviacargo exports in Africa with the next few years.
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“This cargo village will be one-stop-s aimed at addressing most challenges militating against massive aviacargo exports in our country.
“It will have facilities for cargo processing, packaging, certification, laboratory services, data gathering for traceability of products and produces etc.
“You can be assured that in the couple of years, cargo planes will be departing from our airports fully loaded with goods that meet destination standards and acceptance.”
On his part, the coordinator, Aviacargo Roadmap Committee, Mr Ikechi Uko said the ground breaking ceremony is a small step for agency and the committee members but a giant step for Nigeria.
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“I want use this opportunity to thank FAAN, the management staff, for what they have done. This is a small step for those of us here but it is a magic leap not just for FAAN but for Nigeria. We are number five in Africa, when we ought to be number one and this today starts the journey to number one aviation cargo hub Africa.
“I thank the Managing Director for bringing this to fruition and the whole committee members for supporting this project since we started. And the next time we will be here, there will be evidence of what we have done today.”
VANGUARD
Business
Naira Extends Appreciation Against US Dollar

The naira extended appreciation against the dollar at the official foreign exchange market on Wednesday.
The Central Bank of Nigeria’s data showed that the Naira further firmed up on Wednesday to N1,418.26 per dollar, up from N1,419.07 exchanged on Tuesday.
Wednesday’s uptrend represents a slight N0.80 gain against the dollar on a day-to-day basis.
READ ALSO:Naira Records Significant Appreciation Against US Dollar
Meanwhile, at the black market, the Naira remained unchanged against the dollar at N1,480 per dollar on Wednesday, the same rate recorded the previous day.
The development comes as Nigeria’s foreign reserves further rose to $45.62 billion as of January 6th, 2026.
Recall that on Tuesday, the Naira posted a N10.24 gain against the dollar.
Business
Naira Continues Gain Against US Dollar As Nigeria’s Foreign Reserves Climb To $45.57bn

The Naira appreciated further against the United States Dollar at the official foreign exchange market, beginning the week on a good note.
Central Bank of Nigeria data showed that the Naira strengthened on Monday to N1,429.31 per dollar, up from N1,430.85 exchanged on Friday, 2 January 2026.
This means that the Naira gained N1.56 against the dollar on Monday when compared to N1,430.85 last week Friday.
READ ALSO:Naira Records Significant Appreciation Against US Dollar
At the black market, the Naira dropped by N5 to N1480 per dollar on Monday, down from N1475 traded Friday.
The development comes as the country’s external reserves rose to $45.57 billion as of Friday last week.
Business
NNPCL Reduces Fuel Price Again

The Nigerian National Petroleum Company Limited, NNPCL, has again reduced its premium motor spirit price.
In Abuja, on Monday morning, it was gathered that NNPCL retail outlets have reduced their fuel price to N815 per liter, down from N835.
This means that the NNPCL filling stations cut their price by N20.
The fresh price has been implemented at NNPCL filling stations in Wuse Zone 6 and 4 Abuja, Keffi-Abuja Road, and Kubwa Expressway.
READ ALSO:Fuel Price Cut: NNPCL GCEO Ojulari Reveals Biggest Beneficiaries
An NNPCL filling station attendant, who preferred anonymity, told DAILY POST that the new price was implemented on Sunday evening.
However, the N815 per liter is N79 higher than the N739 per liter sold at Dangote Refinery’s backed MRS filling stations nationwide.
DAILY POST recalls that NNPCL on December 19, 2025, cut its price of petrol by N80 to N835 amid a price war among players in the country’s oil downstream sector triggered by Dangote Refinery’s gantry price reduction to N699 per liter.
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