The Naira, on Friday, appreciated to N1,150 per US dollar at the parallel section of the foreign exchange market. Bureau de Change (BDCs) operators, quoted the buying rate of the greenback at N1,110 and the selling price at N1,150 — leaving a profit margin of N40. The Naira appreciated by 0.86 percent from the N1,160 recorded on 11th April. “The …

Popular search engine platform, Google has listed the Naira/US dollar rate as ₦1,247 to $1. This is the first time the platform has listed the Naira/Dollar rate below 1,250 in 2024. One of the reactions to this has come from social commentator, Reno Omokri, who took to his X account to announce the development. He wrote: “Happening Right Now: Google lists Dollar …

The Minister of Solid Minerals Development, Dr. Dele Alake has advised mining companies to emulate the international best practices of the Segilola gold project to develop the sector. He expressed the commitment of the Federal Government to support mining companies that place a premium on local content in their operations. During a site tour of the Segilola Resources Operating Limited …

“With an estimated reserve of 42 billion barrels of bitumen and the second largest deposit in the world, Nigeria has no business importing bitumen. We should be a major net exporter to the rest of the world and we have no choice but to make this a reality”. With those words, the Minister of Solid Minerals Development, Dr. Dele Alake …

President Bola Tinubu has approved the establishment of the Presidential Economic Coordination Council (PECC) and the creation of the Economic Management Team Emergency Taskforce (EET). According to the Presidency, this is a strategic move to bolster the nation’s economic governance frameworks and ensure robust and coordinated economic planning and implementation. The PECC comprises distinguished leaders and key government officials, including: …

The Minister of Solid Minerals Development, Dr. Dele Alake has declared value addition as the irreducible standard for mining operations in the country. During an inspection tour of the gigantic $600 million African Natural Resources and Mines Limited (ANRML) facility, in Kaduna State, that hosts the mining and processing of magnetite iron-ore, the Minister hailed the tenacity and foresight of …

The Office of the National Security Adviser (ONSA) has confirmed that a suspect in the ongoing criminal probe into the activities of Binance in Nigeria, Nadeem Anjarwalla escaped from lawful custody last Friday. In a statement on Monday, the Head of Strategic Communication in the Office of the National Security Adviser, Zakari U. Mijinyawa said: “Upon receiving this report, this …

In fulfilment of a major plank of his seven-point agenda to create a new security architecture to secure mining sites, the Minister of Solid Minerals Development, Dr. Dele Alake has unveiled a 2,200-strong Mines Marshal to smoke out illegal miners and all those who flout the nation’s mining laws. Formally receiving the marshals drawn from the Nigeria Security and Civil …

The Minister of Solid Minerals Development, Dr. Dele Alake has urged mining professionals to groom younger cadres to sustain the development of the nation’s mining sector. Giving the keynote address at the annual conference of the Nigerian Mining and Geosciences Society (NMGS) on Tuesday, Alake hailed the professional services rendered by mining engineers and geologists in areas of exploration and …

The Minister of Solid Minerals Development, Dr. Dele Alake has affirmed the resolve of the Federal Government to foreclose the acquisition of mining licenses by prospective investors without requisite plans for local value addition. While playing host to members of the House Committee on Solid Minerals on oversight visit to the ministry, Alake applauded the lawmakers for their support in …