Business

New Chairman, Aduwawa Livestock Market Promises All Inclusive Administration

Published

5 years ago

January 10, 2021

The newly elected chairman, Aduwawa livestock market, Alhaji Muhammadu Buhari, has promised to run an all inclusive administration without discriminating or treating one person above the other.

He made the promise on Saturday at the swearing in of new executives that will pilot the affairs of the market for the next few years.

According to him, being a Muslim, Almight Allah forbid treating one person above other, adding that great judgement awaits anyone that does that.

He said he will do everything within his power to make sure his people, that is the northerners, that are into livestock business, cohabit with the indigenes peacefully without any crisis.

Cara market (livestock market), Aduwawa

“In this my new position, I want to work hand-to-hand with everybody. I will treat everyone as equal without preference.

“Being Muslim, I know the implication of preferring someone to another, and doing that, God will judge me in the last day, so I will not try that,” he said.

Speaking on some persons who claimed they are landlords of Aduwawa and wanted to demolish their mosque, the new chiarman said if not for the prompt intervention of the Hohen of Aduwawa it would have turned to a full blown crisis.

While thanking the Oba of Benin, and the Hohen for their prompt intervention, Alhaji Muhammadu urged the Hausa community and the indigenes to live as one, stressing that religion crisis will not do the country any good.

The said mosque.

On his part, chairman, Mosque Committee, Alhaji Abdullahi Ibrahim, also promised to make sure peace rain between his people and the host indigenes.

He said his committee is making sure bad persons do not sneak in to cause trouble in the area, adding that to this effect, ID card has been provided for everybody for easy Identification.

He added that there is special ID card for those who sell in the market, and there is another separate one for those who travel to the north to purchase goods and transport them to Benin.

Business

Naira Records Second Consecutive Depreciation Against US Dollar

Published

6 days ago

November 12, 2025

Editor

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.

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.

Business

Tinubu Approves 15% Import Duty On Petrol, Diesel

Published

3 weeks ago

October 30, 2025

Editor

President Bola Tinubu has approved a 15 percent ad-valorem import duty on diesel and premium motor spirit (PMS), also known as petrol.

This was announced in a letter dated October 21, 2025, where the private secretary to the president, Damilotun Aderemi, conveyed Tinubu’s approval to the Federal Inland Revenue Service (FIRS) and the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).

Tinubu gave his approval, following a request by the FIRS to apply the 15 percent duty on the cost, insurance and freight (CIF) to align import costs to domestic realities.

With the approval, the implementation of the import duty will increase a litre of petrol by an estimated N99.72 kobo.

The latest development has led to the Nigerian National Petroleum Company Limited (NNPCL) announcing that it has begun a detailed review of the country’s three petroleum refineries, with a view to bringing them back online.

NNPCL Group Chief Executive Officer (GCEO), Bayo Ojulari, made the announcement in a post on his official X handle on Wednesday night.

According to Ojulari, one of the options being explored by the NNPCL is to search for technical equity partners to ‘high-grade or repurpose’ the facilities.

Tagged: “Update on Our Refineries”, Ojulari said: “The NNPCL continues to remain optimistic that the refineries will operate efficiently, despite current setbacks.”

It can be recalled that despite spending about $3 billion on revamping the refineries, only the 60,000 barrels per day portion of the facility worked skeletally for just a few months before packing up.

The Warri refinery has remained ineffective weeks after it was gleefully announced to have returned to production, while the one situated in Kaduna State never took off at all.

Business

NNPCL Raises Fuel Price

Published

1 month ago

October 13, 2025

Editor

The Nigerian National Petroleum Company Limited (NNPCL) has increased the pump price of petrol from ₦865 to ₦992 per litre, marking a fresh hike that has sparked widespread concern among motorists and consumers .

As of the time of filing this report, the company has not released any official statement explaining the reason for the sudden adjustment.

During visits to several NNPC retail outlets, The Nation observed fuel attendants recalibrating their pumps to reflect the new price.

At NNPC filling station on Ogunusi road, Ojodu Berger, petrol attendants at the station said they were instructed to change the price to reflect the new rate N992 per litre.

However, checks at Ibafo along the Lagos /Ibadan expressway showed that NNPC outlets still displayed the old price of N875 per litre, although they were not selling to commuters.

Most of the NNPC stations were not dispensing fuel.