Nigeria settles backlog of forex demand for airlines, fuel
24 May 2017 | 7:30 am
The central bank of Nigeria sold an undisclosed amount of dollars today to settle a backlog of foreign exchange demand for airlines, fuel and raw material imports.
March 15, 2023
April 9, 2023
June 2, 2023
June 12, 2023
In Kenya, dollar shortage has hit oil importers hard as they need the greenback to bring in supplies.
An engineering student says he can turn plastic into petrol in Ghana's Wa town. It's a plan he hopes can solve Ghana's plastic waste menace.
Japan is investing around 3.5 trillion yen in a push to increase the number of children. The country's acute population problem is getting worse quicker than expected.
People in Nigeria have been rushing to buy fuel amid soaring prices since the country's new president, Bola Tinubu, announced the end of subsidies. Nigeria's state oil company says it was spending over 800 million dollars each month on the subsidy.
The European Union's Internal Market commissioner Thierry Breton has called on Meta CEO Mark Zuckerberg to take "immediate action" or face heavy fines after a report this week revealed Instagram to be the worst social network for child sexual abuse material.
Nigerian President Bola Tinubu has defended his decision to stop fuel subsidies after the end of June and asked for patience. This comes at a time when Nigerians are already struggling to cope with record unemployment and poverty and inflation has hit an 18-year high.
Nigeria's President Bola Tinubu has told the country that ending a long-standing fuel subsidy was a painful necessity. But the knock-on effects of the move are having a great impact on Nigerians' everyday lives.
As big energy companies make record profits and expand production of climate-wrecking fossil fuels, activists are appealing directly to shareholders to demand rapid emission cuts.
The United States’ special climate envoy John Kerry assesses efforts to secure funding for climate action and the green transition in an interview with FRANCE 24 on the sidelines of the Summit for a New Global Financing Pact in Paris.
Nigeria's fuel subsidy kept petrol prices low but also drained billions from government coffers. Now it has been removed, small businesses - which largely rely on generators - are feeling the squeeze.
The removal of fuel subsidy and subsequent increase in fuel price from about NGN180 to NGN500 in June by the current administration hit businesses and individuals across Nigeria in no small measure. But as of today, prices of fuel have taken another drastic increase from NGN500 to over NGN700. Already, NNPC filling stations across the country have adjusted and started dispensing at NGN617.
37 mins ago
We look at the profiles of some of the hostages released by Hamas over the past three days and take a look at how Israeli papers are reacting to the hostage release deal. We also see why there's little optimism ahead of this week's COP28 climate summit in Dubai. We finish with a look at this year's highly timely Booker Prize winner.
37 mins ago
Samuel Paty was killed by a suspected Islamist after showing cartoons of Prophet Mohammad to his class. Five teenagers are charged with identifying the teacher to his killer for payment.
1 hour ago
North Korea has sent troops to restore border posts that were taken town as part of an agreement to ease tensions, Seoul says.
1 hour ago
The protesters were blocking shipping traffic at the Port of Newcastle over the weekend, challenging the nation's dependence on fossil fuel exports.
2 hours ago
Lecture topic: For the world to respect Africa. Keynote topic: Federalism is the answer, What is the question?
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.