• World Bank and AfDB set to invest $7.5 billion in Nigeria’s power sector
• NLC offers advice to agents planning to stifle protests against hunger
• Minister of Aviation sets eyes upon achieving a direct flight from Nigeria to Canada
• Bagudu charges Nigerians to endure and make sacrifices for the nation’s growth
• Naira trades at new exchange rates against Pounds, Euros and crashes against US dollars

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

World Bank and AfDB set to invest $7.5 billion in Nigeria’s power sector

The Minister of Power, Adebayo Adelabu, has revealed that the World Bank and the African Development Bank (AfDB) will be investing a total of $30 billion in the repair and boosting of Africa’s energy sector.

He stated that Nigeria is expected to receive $7.5 billion from the funds to aid in the boosting of electricity in the country.

“I want to inform you of the proposal or the intention, which is at an advanced stage, by the World Bank and the African Development Bank to spend about $30bn to extend electrification to an additional 300 million Africans within the next five years. And Nigeria is going to participate fully in this. I am confident that nothing less than 20% or 25% of this fund would come into Nigeria because of our population,” he said.

NLC offers advice to agents planning to stifle protests against hunger

The President of the Nigerian Labour Congress (NLC), Joe Ajaero, has spoken up about political or governmental agents looking forward to suppressing any activists’ hunger protest as it is every Nigerian’s fundamental right to display and express their voice and view on things concerning them and the government.

NLC has instead requested that the government should demand a dialogue with the activist groups who aim to protest in the country and work towards satisfying their needs rather than taking measures to prevent them from protesting and voicing out.

A group of Nigerians announced they would embark on a nationwide protest on August 1, with the hashtags #TinubuMustGo and #Revolution2024.

Minister of Aviation sets eyes upon achieving a direct flight from Nigeria to Canada

The Minister of Aviation and Aerospace Development, Festus Keyamo, has aired his plan to achieve a direct flight from Nigeria to Canada, following the large and increasing number of Nigerians who have relocated to the country.

Festus Keyamo stated that most Canada flights are in transit as modalities are required to be out in place to support the population in the country.

Bagudu charges Nigerians to endure and make sacrifices for the nation’s growth

The Minister of Budget and Economic Planning, Atiku Bagudu, has opened up on how he believes Nigeria can attain maximum growth and will be heavily influenced by how Nigerians make sacrifices.

The Minister appeared before the House of Representatives Committee to defend President Bola Tinubu’s demand to increase the national budget by ₦6.2 trillion.

Bagudu stated that all countries now thriving have had to make sacrifices somehow, saying, “The simple truth is that we have to make sacrifices for our country to achieve the growth it requires. Those countries who we are teaching our children that they have achieved this and that we should stop comparing ourselves to where they (the countries) are today. But what choices did they make in the past to bring them to where they are?”

Naira trades at new exchange rates against Pounds and euros and crashes against US dollars

The Nigerian currency has been unstable throughout July, rising, falling and making the market unpredictable.

In recent records, the naira has traded differently in the official and black market section of the foreign exchange against the British Pounds and Euros as it depreciated against the US dollar.

The naira now trades at ₦2,020/£ in the official market and ₦2,070/£ in the black market, while the Euro trades at ₦1,650/€ in the official market and trades at ₦1,700/€ in the parallel market.

Meanwhile, the naira has crashed against the dollar, trading at ₦1,596/$ in the official market and ₦1,570/$ in the black market.