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Dangote Refinery: Refiners Recommend FX Rate Peg at N1,000/$ for Affordable Petrol Prices

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Refiners   have  proposed  that  if  the  federal government  pegs  the  foreign  exchange (FX)  rate at  N1,000 per  dollar, petrol  prices  could  fall below N600  per  litre.This  suggestion  is tied to ensuring  more  stable and  affordable  fuel  prices  in  Nigeria  as  the  Dangote Refinery   begins operations.The  aim is to  mitigate   the rising  cost of  petrol  and  the  fluctuating   dollar-naira  exchange  rate,  which  has  greatly  impacted  fuel import  costs.The  proposal  could  relieve  Nigerians   of   skyrocketing   energy   prices  if implemented.

 


 

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FG Extends NYSC Orientation Camp From 3 to 6 Weeks

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The Federal Government has announced an extension of the NYSC programme. It can be noted that the NYSC camp orientation is usually for three weeks before the youths go out to gain experience, employment, and serve the country for one year.

However, the FG announced that the passing-out parade from camp will be cancelled, and corps members will now spend six weeks in camp instead of three weeks.

“The first two weeks speak to laying a foundation on civic responsibility. The next two weeks will look at career mapping, basic accounting literacy skills, business planning and access to finance. The final two weeks, we intend to have focused corps-stream-specific training aligned with the corps member’s designated stream based on his choice, academic background and skills profile.”


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Is Lagos Sinking? Residents Raise Concerns as Flooding Worsens

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With the rainy season in Nigeria, many are wondering if the increase in flooding has now become the new normal. Lots of videos, clips, and complaints have literally flooded online, showing how badly roads, homes, and other places have been affected.

We were used to hearing about the rise of water on the Island since it is literally surrounded by water, but now floods are being spotted on the Mainland as well.

We may not know exactly why this is happening, but one thing is certain—we urgently need a lasting solution.


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Federal Government Clarifies Position on Proposed Tax Recommendations

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The federal government reacted to claims stating that the new tax rules will be imposed on telecommunications and petroleum products for Nigerians.

The FG released a statement to explain the process and stated that there is no intention to place taxes on telecom and petroleum products and services.

“Those recommendations do not amount to government policy and are not binding on Nigeria. Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities.”


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