• NBS report that every Nigerian owes ₦620k
• Dangote and IPMAN come to an agreement on petrol lifting
• DisCo at risk of being sanctioned by FG agencies for charging metre change
• Naira rises against US dollars in the black market, trades at ₦1,730/$
• US place a bounty on escaped Nigerian on a murder trial

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

NBS report that every Nigerian owes ₦620k 

According to the latest data published by the Debt Management Office, every Nigerian owes about ₦620,000, adding to a total of ₦134.297 trillion of the country’s public debt in the second quarter of 2024.

According to the population count by the National Bureau of Statistics (NBS), standing at 216 million, it means that debt per capita sums up to ₦619,501.

Nigerians have taken to social media to express their thoughts about the new report, stating that they have nebellver received palliatives from the government but are now expected to believe that they owe a debt of ₦620k when the newly approved minimum wage has yet to even be put into effect in the country.

Dangote and IPMAN come to an agreement on petrol lifting

Dangote Refinery and the Independent Petroleum Marketers Association of Nigeria (IPMAN) have struck a deal allowing independent petrol marketers to begin directly lifting fuel from Dangote Refinery.

The IPMAN president, Abubakar Maigandi, announced to media reporters that a meeting led by Aliko Dangote and the leaders of IPMAN had yielded promising results,s, which would see the lifting of petrol directly from the refinery without any hiccups.

Although the date the association will begin lifting is unknown, the President clarified that Dangote Refinery and IPMAN were on good terms and would have a cordial business relationship. This partnership would lead to a reduction in Nigerians’ petrol prices.

“After meeting with Aliko Dangote and his management team in Lagos, we are pleased to announce that Dangote Refinery has agreed to supply IPMAN with PMS(Premium Motor Spirit otherwise known as petrol), AGO (Automated Gas Oil known as Diesel) and DPK( kerosene) directly for distribution to our depots and retail outlets,” said Maigandi.

DisCo at risk of being sanctioned by FG agencies for charging metre change

Since the Electricity Distribution Companies have announced that they will be charging electricity users for the change in their metres, many federal government agencies, particularly the FCCPC, have taken it upon themselves to face one of the two DisCos in Lagos, Ikeja Electric.

The Ikeja DisCo is adamant about charging Nigerians to replace their old metres with the new model. It instructs that all consumers under its supervision must change their metres before November 14 as they cannot recharge on the old metres henceforth.

The other Disco in Lagos, the Eko Electricity Distribution Company (EKEDC), which initially demanded that its consumers pay for the replacement of metres, retracted its words, offering the users a chance to change their metres.

Naira rises against US dollars in the black market, trades at ₦1,730/$

The Naira has appreciated against the US dollar in the parallel market, trading at ₦1,730/$ against the previously recorded rate of ₦1,740/$.

Unfortunately, the naira depreciated against the US dollar in the official foreign exchange market, trading at ₦1,681/$ from ₦1,678/$.

A report by BMI, a Fitch Solutions subsidiary, claimed that the naira will depreciate to ₦1,993/$ against the US dollar by 2028, which could threaten the Nigerian pharmaceutical industry.

“We expect that the naira will end 2028 at N1,993/$ from N306/$ in 2018. As the naira weakens, the cost of importing medical devices will continually increase, eroding the health system and patient purchasing power, especially to invest in essential medical technologies given the underfunding of the public health sector,” the report reads in part.

US place a bounty on escaped Nigerian on a murder trial

The United States of America has offered to pay $25,000 to whoever captures or shares information about the whereabouts of Olalekan Abimbola Olawusi, a Nigerian suspected of the murder of his child.

A statement by Supervisory Deputy U.S. Marshal Don Freeman, retrieved from the US agency’s website, affirms that Olawusi was named among the 15 most wanted fugitives in the country.

Freeman claimed that Olawusi, who lived in Rhodes Island, US, was arraigned on two counts bordering on first-degree murder caused by inflicting bodily injury to a child and unlawful flight to avoid prosecution by the forces.