Top 5 Stories Of The Day | Ghana and Others Suffer Power Outage as Nigeria Reduces Gas Supply for Three Weeks

Ekiti and Ondo States suffer two-month power outage over TCN repairs
  • Ghana and others suffer power outage as Nigeria reduces gas supply for three weeks
  • MultiChoice allegedly fixes subscription prices of DSTV/GOTV after court ruling
  • NLC reacts to Tinubu’s speech on minimum wage
  • NBS reveals food inflation surged by 61% within a year
  • British Pounds and Euros depreciate against Naira in black market

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

Ghana and others suffer power outage as Nigeria reduces gas supply for three weeks

Ghana and Others Suffer Power Outage as Nigeria Reduces Gas Supply for Three Weeks

West African countries such as Ghana, Togo and the Republic of Benin have suffered power outages since Nigeria announced through the West African Gas Pipeline Company (WAPCo) about its reduction in distribution of gas supply to its neighbouring countries.

Ghana announced that the country would suffer a three-week power outage due to the maintenance work being done by the company.

“One of the producers of the natural gas WAPCo transports from Nigeria has shut down its facility for a three-week maintenance, resulting in a decrease of gas available for WAPCo to transport to customers in Togo, Benin and Ghana. The current situation is entirely out of WAPCo’s control,” WAPCo explained.

MultiChoice allegedly fixes subscription prices of DSTV/GOTV after court ruling

MultiChoice

MultiChoice has allegedly taken heed to the demand made by the Nigerian court as the firm has reduced and readjusted its subscription prices after challenging the court because it does not favour its business.

MulticlChoice, the parent firm of DStv and GOtv, has reverted to its previous subscription prices for its consumers after Nigerians lamented the sudden price increase.

However, MultiChoice has stated that it would be taking the Competition Consumer Tribunal (CCT) to court for the alleged damages to its business, claiming it lost over 1 million Nigerian subscribers.

NLC reacts to Tinubu’s speech on minimum wage

The Nigerian Labour Congress (NLC) has spoken about President Bola Tinubu’s speech concerning the minimum wage increase. The President had earlier stated that the federal government would choose a minimum wage that the government finds affordable.

However, a spokesperson for NLC, Benson Upah, has spoken up about the hidden message in the speech, saying the President’s speech was contradictory as it would go against his promise to pay a living wage as the FG’s last offer remains at ₦62,000.

“This will breach his promise to pay a living wage which is superior to a minimum wage.”

NBS reveals food inflation surged by 61% within a year

Market inflation

The National Bureau of Statistics (NBS) has shared its report on food inflation in Nigeria, revealing that Nigerians are unable to feed themselves as they were once able to due to the high rise in food inflation.

According to the data by NBS, the food prices in Nigeria rose from 25.25% in June 2023 to 40.66% in May 2024.

The statistics agency reported the significant contributors to inflation in May 2024 to include food and non-alcoholic beverages, which accounted for 17.59% of the increase; housing, water, electricity, gas, and other fuel, which contributed 5.68%; and clothing and footwear, which contributed 2.60%

British Pounds and Euros depreciate against the Naira in the black market

According to Bureau de Change (BDC) operators, Naira has appreciated in the black market against the Pound and Euros.

The operators explained that they sell British pounds for ₦1,850 compared to its earlier sale of ₦1,890, while Euros is sold at ₦1,580 despite its previous rate of ₦1,610.

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