Top 5 Stories Of The Day | FG Set to Invest in Made-in-Nigeria Vehicles

FG Set to Invest in Made-in-Nigeria Vehicles
  • FG set to invest in Made-in-Nigeria Vehicles
  • FG suspends taxes on importation of food items
  • Domestic airlines enter a deal with Dangote as aviation fuel price rises to ₦1,250/litre
  • Naira crashes to ₦1,523/$ at the official exchange market
  • Bandits dressed in hijabs kidnap 26 people in Katsina community

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

FG set to invest in Made-in-Nigeria Vehicles

FG Set to Invest in Made-in-Nigeria Vehicles

The federal government has raised its voice on supporting and investing in Made-in-Nigeria Vehicles.

The news was shared by the Director General of the National Automotive Design and Development Council (NADDC), Oluwemimo Joseph Osanipin, as he stated that President Bola Tinubu had earlier instructed all Ministries, Departments and Agencies (MDAs) to invest in vehicles manufactured or assembled in Nigeria.

“The first support we are asking is from all Nigerians. Let’s replicate what we’ve done in the truck business. Most of the new trucks you see on the road today are assembled in Nigeria, and Nigerians have embraced that,” he said.

FG suspends taxes on importation of food items

The federal government, through Abubakar Kyari, Minister of Agriculture and Food Security, announced that it would be suspending all duties, taxes and tariffs on imported maise, brown rice, cowpeas and wheat that are brought into the country by land or sea.

The Minister of Agriculture asserted that a 150-day duty-free window for food items will be introduced and implemented over the next 180 days as part of the plans to alleviate food inflation in Nigeria.

“Over the past several months, we have all witnessed the escalating cost of food items in all parts of the country. There is virtually no food item that has not had its price raised to a level higher than what a good many Nigerians can afford,” Kyari said.

Domestic airlines enter a deal with Dangote as aviation fuel price rises to ₦1,250/litre 

Fuel

Domestic airlines under the banner of Airline Operators of Nigeria (AON) have resolved to meet the management of Dangote Petrochemical Refinery to purchase JetA1 fuel at a cheaper rate.

Therefore, some local operators have planned to meet with the refinery to strike a deal that would possibly see them purchasing aviation fuel at the price of ₦980/litre rather than the current price that it’s being sold at (₦1,100-₦1,250 per litre) due to exchange rate.

Naira crashes to ₦1,523/$ at the official exchange market

Naira

The naira has faced a depreciation against the US dollar as it trades at ₦1,523/$ from its previous rate of ₦1,509/$.

According to the Nigerian Autonomous Foreign Exchange Market (NAFEM), the naira in the official market dropped to ₦1,523.85/$.

In the black market, the naira depreciated by 0.33% and traded at ₦1,528/$ compared to its previous rate of ₦1,523/$. 

Bandits dressed in hijabs kidnap 26 people in Katsina community

Bandits

Reports reveal that bandits disguised in hijabs known as ‘Abayas’ swooped into a community in Katsina State and abducted 26 people, mainly women and children.

The attack was said to have occurred in Runka Community in Safana Local Government Area. Runka Community is known for its proximity to the Rugu Forest, a place that has become a haven for criminals.

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