Business

Flooding: Two Feared Dead In Early Monday Rain In Abuja

Published

12 months ago

June 24, 2024

Two people were on Monday feared dead following Monday morning’s downpour, which caused heavy flooding at the Trademore Estate in Lugbe along the Nnamdi Azikiwe Airport Road.

The estate, which has been perennially affected by flooding, is home to several civil servants and other categories of people.

A resident of the area who made a video of the flood could be heard calling on the Federal Government and the Federal Capital Territory FCT Minister, Nyesom Wike, for help.

She said two people had been swept away by the flood. The development has not been confirmed by the administration.

The FCT Administration had since 2022 made several attempts to demolish parts of the estate said to be on a flood plain, but a court case instituted by residents against it halted the exercise.

Recall that the Nigerian Meteorological Agency, NiMet, had on Sunday predicted thunderstorms and hazy weather conditions from Sunday to Tuesday in some parts of the country.

NiMet’s weather outlook indicated morning thunderstorms over the central states in places like Plateau, Nasarawa, the Federal Capital Territory, Benue, and Niger states.

Also later in the day, there are prospects of thunderstorms over parts of Kogi, Niger, Plateau, Benue, Nasarawa, and the Federal Capital Territory.

In its reaction to the prediction, the FCT Emergency Management Department (FEMD) said it has placed its flood vanguards and local emergency management committees in the six area councils on alert following warnings of possible flooding in the territory.

In a statement by Head, Public Affairs of the Department, Nkechi Isa, “The FCT Emergency Management Department, FEMD, has placed its vanguards and the local emergency management committees in the six area councils on alert following early warnings of possible flooding in the Territory.

“A weather outlook issued by the Nigeria Meteorological Agency, NiMet, and made available to FEMD says isolated thunderstorms are likely today over parts of the FCT, Nasarawa, Kogi, Benue, and Plateau.

“NiMet advises that strong winds may precede the rains in areas where the thunderstorms are likely to occur and urged the public to take adequate precaution.

“NiMet also predicts similar weather conditions for Tuesday 25th and Wednesday 26th June 2024.

“Meanwhile, the National Flood Early Warning System (FEWS) Centre of the Federal Ministry of Environment has predicted that locations in 15 states are likely to witness heavy rainfall that may lead to flooding between today and tomorrow.

“States like Kogi, Nasarawa, Niger, and Kaduna are among states expected to experience heavy flooding. However, the FCT may not experience flooding.

“In reaction to the early warning on neighbouring states, the Ag. Director General of FEMD, Mrs Florence Dawon Wenegieme, said the department has put in place mitigation measures around the city.

“Mrs Wenegieme informed that the Search and Rescue Team are on the alert, while local divers have been posted to vulnerable locations.

“The Ag DG appealed to residents to always use the 112 emergency toll-free number in the event of an emergency.”

Business

Naira Appreciates At Official Market

Published

2 weeks ago

May 24, 2025

Editor

The Naira, which has seen steady appreciation against the Dollar all week, closed stronger on Friday, trading at ₦1,580.44 in the official forex market.

Data from the Central Bank of Nigeria’s website show the Naira gained ₦4.51k against the Dollar on Friday alone.

This marks a 0.28 per cent appreciation from Thursday’s closing rate of ₦1,584.95 in the official foreign exchange window.

The local currency maintained consistent strength throughout the week, recording gains daily.

On Monday, May 19, it traded at ₦1,598.68; on Tuesday, at ₦1,590.45; and on Wednesday, at ₦1,584.49.

These gains suggest increased investor confidence and improved forex supply, contributing to the naira’s performance.

Meanwhile, the CBN, at its 300th Monetary Policy Committee meeting held Monday and Tuesday, retained the Monetary Policy Rate at 27.5 per cent.

Business

BREAKING: Again, Dangote Refinery Cuts Petrol Price

Published

3 weeks ago

May 22, 2025

Editor

The Dangote Petroleum Refinery has announced a nationwide reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, with new prices now ranging between ₦875 and ₦905 per litre, depending on location.

The ₦15 per litre cut applies across all regions and partner fuel stations, and was confirmed via an official announcement posted on Dangote Refinery’s social media channels on Thursday.

Major marketers participating in the new pricing regime include MRS, Ardova, Heyden, Optima Energy, Techno Oil, and Hyde Energy — partners in the distribution of Dangote-refined products.

Under the previous pricing structure, Lagos residents paid ₦890 per litre, while prices reached ₦920 in the North-East and South-South regions. With the latest adjustment, Lagos now pays ₦875 per litre, while the North-East and South-South will see prices drop to ₦905.

A regional breakdown of the revised prices is as follows: Lagos: ₦875, South-West: ₦885, North-West & Central: ₦895, North-East & South-South: ₦905 and South-East: ₦905.

In its announcement, Dangote Refinery encouraged consumers to purchase fuel only from authorised partner stations and urged the public to report any cases of non-compliance via its official hotlines: +234 707 470 2099 and +234 707 470 2100.

“Our quality petrol and diesel are refined for better engine performance and are environmentally friendly,” the company said.

Business

Naira Appreciates Against Dollar At Foreign Exchange Market

Published

3 weeks ago

May 17, 2025

Editor

The Naira ended the trading week on a positive note, recording a bullish close on Friday at the official foreign exchange market.

It appreciated N1,598.72 against the U.S. Dollar, reflecting a modest gain that suggests continued efforts to stabilise the local currency.

According to figures published on the Central Bank of Nigeria’s official website, the Naira strengthened by N0.60k against the Dollar on Friday.

This upward movement represents a 0.03 per cent appreciation compared to the N1,599.32 exchange rate recorded at the close of trading on Thursday.

The local currency had shown some resilience earlier in the week, posting gains on both Tuesday and Wednesday trading sessions.

On Tuesday, the Naira appreciated by 0.02 per cent, followed by a stronger gain of 0.21 per cent on Wednesday.

These improvements were seen as positive indicators of growing investor confidence and increased supply in the foreign exchange market.

However, Thursday’s trading session saw a minor setback, with the Naira slipping by N2.62 against the Dollar.

This loss equated to a 0.16 per cent depreciation, dampening the midweek rally seen in previous sessions.

Market analysts attributed Thursday’s dip to a brief increase in Dollar demand from importers and other market participants.

Despite this, the week still closed on a positive note, with the Naira showing signs of gradual recovery and increased market stability.

Analysts continue to monitor the Central Bank’s policies, especially interventions aimed at improving Dollar liquidity and managing demand pressures.

The Naira’s performance in the coming weeks will likely depend on consistent supply inflows and investor sentiment across the broader economic landscape.