• Naira gains against the US dollar in official and unofficial market
• IPMAN announces potential price drop in petroleum as supply increases
• More Nigerian Airlines acquire licence to fly from Lagos to London
• Appeal Court sacks Caleb Muftwang as Governor of Plateau State, declares Goshwe winner
• Demand for gas reduces as prices skyrocket to ₦12k/kg

Across Nigeria’s 36 states and the Federal Capital Territory, these are the five top Nigerian news stories you shouldn’t miss.

Naira gains against the US dollar in official and unofficial market

The Nigerian currency (₦) gained value against the US dollar over the weekend.

As of November 17, the exchange rate at the official market for the US dollar was ₦791.75/$, which is an appreciation considering it was capped at ₦841.14/$ last week.

The parallel market also shared the same news as the exchange rate was valued at ₦1,127/$ on November 19 as opposed to its ₦1,135/$ rate last week.

IPMAN announces potential price drop in petroleum as supply increases

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has revealed that there may be a possible price drop in petroleum sales at pump price.

This is only possible as the Nigerian National Petroleum Company (NNPCL) has been able to import crude oil.

The IPMAN claimed the reason for the surge in the price of PMS was due to a lack of supply by NNPCL.

“Once the products start hitting filling stations, fuel prices will reduce because the recent high cost was due to supply drop,” IPMAN’s National Public Relations Officer, Ukadike Chinedu, assured Nigerians.

More Nigerian Airlines acquire licence to fly from Lagos to London

After the Nigerian Airline Air Peace secured permission to fly directly between Lagos and London, two more local airlines (Omni Blu Airline and United Nigeria Airline) announced their approval to fly between these countries.

With these latest achievements, flight fees between these two countries are expected to become cheaper as the Nigeria Civil Aviation Authority (NCAA) received the Third Country Operator (TCO) certificate to fly within the UK and Europe.

United Nigeria Airlines is now capable and permitted to fly to the USA, Italy, Netherlands, Ireland, and UAE.

Appeal Court sacks Caleb Muftwang as Governor of Plateau State, declares Goshwe winner 

The Court of Appeal in Abuja cancelled the electoral victory of Caleb Muftwang of the PDP by ruling that he was not qualified to run for Plateau state governorship.

In a unanimous ruling by three panel members, which Justice Elfrieda Williams-Dawodu led, Governor Muftwang was deemed unfit to rule because a party without structure sponsored him.

Therefore, the Appeal Court withdrew the certificate of return from Caleb Muftwang and declared Nentawe Goshwe of APC the winner of the Plateau State gubernatorial election, making him the governor.

Demand for gas reduces as prices skyrocket to ₦12,000/12.5kg

The inflation in Nigeria has gotten worse over the past years, but 2023 is in its league; the cost of liquefied gas fees skyrocketed to ₦11,000 or ₦12,000 for 12.5kg.

Retailers have noted that the demand for gas has declined recently due to the exorbitant prices despite the government’s agenda to promote local consumption. 

The people have resorted to purchasing gas in lower quantities and taken up kerosene as another means of cooking since they cannot buy gas at its current rate due to low income.