Some residents in Lagos State have expressed concern over the recent surge in tomato prices, forcing many households to adopt alternatives. The residents shared their views in separate interviews with reporters on Wednesday in Lagos. A market survey by reporters shows that a 50kg basket of tomatoes now sells for between N115,000 and N125,000, up from N35,000 to N40,000 last month. Mrs Olachi Igwe, a resident of Ago Palace, said the scarcity and high cost of tomatoes had disrupted her household’s meal plans. “I contacted my usual vendor, but she said tomatoes were scarce and difficult to source. A small…
Author: Newsdesk
Nigeria’s currency, the naira, appreciated to N1,362 per dollar on Tuesday, sustaining its recent upward trend in the foreign exchange market. Data from the Central Bank of Nigeria (CBN) showed the currency strengthened from N1,367.5/$ recorded on Monday, signalling continued stability and improved sentiment in the official market. The latest gain comes amid softer global dollar conditions, as easing geopolitical tensions weighed on the U.S. currency across major markets. CBN figures indicate that the naira has maintained consistent gains on both day-to-day and week-on-week bases, supported by relatively improved demand and supply dynamics in the FX window. Intraday trading on…
The ECOWAS Parliament has ordered an investigation into the escalating terror attacks across the sub-region and the recent wave of xenophobic violence against African migrants in South Africa. The regional parliamentarians took the decision during plenary at the First 2026 ECOWAS Parliament Ordinary Session on Tuesday in Abuja. The decision followed a motion moved by Ghanaian MP and Third Deputy Speaker, Alexander Afenyo-Markin, on a “matter of urgent direct and profound importance.” The Parliament subsequently directed its Committee on Political Affairs to investigate recent terror attacks across the sub-region, particularly in Mali and Burkina Faso, as well as xenophobic attacks…
The United Bank for Africa (UBA), MTN Mobile Money (MoMo), and fintech firm RedTech have unveiled a cardless payment solution aimed at deepening financial inclusion and improving access to digital transactions. The initiative will enable users to carry out financial transactions without debit cards or internet-enabled devices by using Smart Payment System (SPS) terminals and basic mobile phones. It leverages a network of over 100,000 touchpoints nationwide, allowing users to perform withdrawals, transfers, and bill payments seamlessly. At the signing of a Memorandum of Understanding (MoU) in Lagos, UBA, MTN MoMo, and RedTech said the solution would bridge gaps in…
The Oyo State Government has introduced a daily environmental sanitation exercise monitoring and enforcement system to ensure a cleaner and healthier environment across the state. Mr. Ademola Aderinto, Commissioner for Environment and Natural Resources, disclosed this during a press conference in Ibadan on Tuesday to mark his first 100 days in office. Aderinto explained that the Ministry has shifted from the traditional monthly environmental sanitation exercise to a more proactive daily system that encourages residents to take personal responsibility for maintaining cleanliness. He noted that the exercise would be monitored and enforced by environmental health officers. “We are now enforcing…
Sycamore Integrated Solutions Ltd. has closed its Series 1 Commercial Paper issuance at ₦6.89 billion, surpassing its ₦3 billion target by 230 per cent. The Chief Executive Officer, Mr. Babatunde Akin-Moses, disclosed this during the programme signing ceremony on Tuesday in Lagos. Akin-Moses said the company’s capital market debut reflects a growing shift among technology-driven financial firms towards alternative funding sources, moving beyond traditional venture capital and equity financing into structured debt instruments. According to him, the issuance forms part of a ₦20 billion Commercial Paper Programme arranged by BAS Capital Ltd. The offer opened on March 9 and closed…
The National Emergency Management Agency (NEMA) has emphasized the need for synergy and proactiveness among disaster managers to enhance disaster preparedness, mitigation, and response. Mr. Kadiri Olanrewaju, Head of Operations at NEMA’s South-West Zonal Office in Ibadan, made the call during a stakeholders’ engagement on disaster preparedness and response on Tuesday in Ibadan. He said the engagement was necessary following predictions by the Nigerian Meteorological Agency (NiMET) of possible heavy rainfall in parts of the state, as well as recent accidents and fire incidents recorded by the agency. According to him, the meeting aimed to rub minds with critical stakeholders…
Vice President Kashim Shettima on Tuesday restated the firm resolve of President Bola Tinubu’s administration to address humanitarian situations across the country. Shettima made the remark when he received a delegation from the International Committee of the Red Cross (ICRC) in Nigeria, led by Ms. Doris El Doueihy, at the Presidential Villa, Abuja. He assured the delegation that the administration would continue to engage critical stakeholders, including development partners, to address grey areas in humanitarian responses nationwide. Shettima added that the federal government would sustain its strong relationship with key partners like the ICRC. “It is only when we continue…
President Bola Tinubu has met with global investors in Paris, France, emphasizing transparency, fiscal discipline, and sustained economic reforms. The engagement was highlighted in a statement issued by Presidential Spokesperson, Mr. Bayo Onanuga, on Tuesday in Abuja. At the meeting, the Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, highlighted Nigeria’s strong economic performance, noting that the country recorded 11.2 per cent GDP growth in dollar terms in 2025. Oyedele said the performance reinforces Nigeria’s ambition to achieve a $1 trillion economy by 2030. He outlined the government’s priority of translating reforms into tangible benefits for…
The Manufacturers Association of Nigeria (MAN) has urged the Lagos State Government to simplify its tax structure to support industrial growth and attract fresh investments. Mr. Raphael Danilola, Chairman of MAN, Apapa Branch, made the appeal on Tuesday in Lagos at the branch’s Annual Business Luncheon. The event was themed: ‘Simplifying Tax Compliance for Manufacturers: Expectations from the State Tax Authority.’ Danilola said multiple taxation and complex compliance procedures continue to discourage investment, particularly among small and medium-scale manufacturers. He noted that manufacturers expect Lagos to align with recent Federal Government tax reforms by implementing changes that improve competitiveness, block…