Economy
First Electric Bus Launched In Oyo
The first Electric Bus has been launched in Ibadan, Oyo state
Performing the launch on Friday, an Ibadan based business man, Engineer Dotun Sanusi disclosed that the pilot Scheme For Okada, Tricycle Riders would be carried out in Ona Ara life cal government area soonest.
Sanusi said the initiative is aimed at marking a pivotal move towards a more sustainable and environmentally friendly future for the growth and development of Oyo State.
He stated that the significance of this initiative to Ona Ara local government underscored his commitment to substantially reducing the carbon footprint and modernizing its transportation system.
The 100 seater bus was driven from Ilaji Hotel and Sports Resort in Akanran, to Amuloko and Olorunsogo amidst applause and cheers from residents.
Chief Sanusi however assured residents of Ona Ara local government who are into motorcycle and tricycle businesses that in about four weeks time, they would be able to transit their means of transportation to electric from petrol or diesel.
He noted that the charging facility for motorcycles, tricycles and power bikes through Solar Energy would be installed in front of Ilaji Hotel and Sports Resort.
“To God be the glory, Ilaji Hotel and Sports Resort is the first to launch electric bus in Oyo State.
“Our transition to electric bus forms part of the strategic move to addressing the consequences of rising petrol prices and the economic implications business owners and residents of our dear state.
“We have conducted a survey to ascertain the number of commercial motorcycles tricycles and Power Bikes needed per route from Olorunsogo to Akanran to allow for efficient and better traffic management.
“In four weeks time, the pilot scheme for Motorcycles and Tricycles in our locality would kick off.
“The charging point would be installed in front of Ilaji Hotel and Sports Resort.
“This forms part of my cardinal programmes for the upliftment of people at the grassroot. I remain committed to uplifting the downtrodden from poverty to prosperity through different means of alleviating their plights.
“One doesn’t need to hold a political office before making significant impacts on the lives of the common man.”
By Mario Deepromoter
The USD was traded at ₦ at the beginning of this September on Monday, September 2, 2024. As at today with USD being traded at ₦1,665 we see a % for United States Dollar to Naira exchange rate for this month.
On this page, we are primarily focusing on the Black Market Dollar To Naira Exchange Rate Today, the USD to Naira currency pair are the most traded currency in the FX market.
Black Market Exchange Rates
Buying Rate
Selling Rate
Dollar to Naira 1665 1657
Pounds to Naira 2227 2200
Euro to Naira 1839 1815
Canadian Dollar to Naira 1221 1213
Rand to Naira 52 43
Dirham to Naira 0 0
Yuan to Naira 62 62
G.Cedi to Nair 70 50
CFA F. (XOF) To Naira 0.83 0.81
CFA F. (XAF)
Having full knowledge how much USD to NGN black market exchange rate today will give you a better opportunity to plan and make informed decisions.
The Securities and Exchange Commission (SEC) says it will encourage government agencies and state owned enterprises to list on the Nigerian Exchange Ltd. (NGX).
Dr Emomotimi Agama, the Director-General (D-G) of SEC in an interview with newsmen in Abuja on Thursday, said the listing of the companies on the NGX would guarantee democratisation of their operations.
Agama said the listing would also guarantee inclusiveness and wealth creation for citizens.
He said the Commission would provide incentives that would encourage as much state owned enterprises to list.
According to him, inclusivity is very critical, because in it, you have ownership and so we all build our industries and the country together.
The D-G said the SEC was also working towards inclusion via technology, adding that the use of technology would make the capital market more attractive, especially to the younger generation.
“That is why we encourage apps, we encourage fintech tools, and that is why we supported the inauguration of the electronic offering platform at the Nigerian exchange.
”We encourage everyone who wants to participate and is qualified to participate in this process, to turn around the way people see investing.
“We want investors to have a beautiful experience, to make it so easy for them that each time they feel like investing, it brings happiness to them.
”We will continue to do that through encouragement of technology, through education,” Agama said.
He said the Commission would ensure that bottlenecks usually experienced in process of investing in the market were removed to rejuvenate the country’s capital market.
(NAN)
By Mario Deepromoter
The Dollar to Naira exchange rate in the black market, also known as the parallel market (Aboki fx)? Here’s the exchange rate for today, 18th September 2024, based on information from Bureau De Change (BDC) operators
How much is a dollar to naira today in the black market?
As of today, in Lagos Parallel Market (Black Market), the exchange rate for buying a dollar is N1655, while selling is at N1660 on Wednesday, 18th September 2024.
It’s important to note that the Central Bank of Nigeria (CBN) does not recognize the parallel market (black market) and advises individuals to approach their banks for official Forex transactions.
### Dollar to Naira Black Market Rate Today:
– **Buying Rate**: N1655
– **Selling Rate**: N1660
### Dollar to Naira CBN Rate Today:
– **Buying Rate**: N1651
– **Selling Rate**: N1652
*Note*: These rates may vary slightly based on location and the specific Bureau De Change operator.
### CBN’s Outlook on External Reserves and Economy:
The Central Bank of Nigeria (CBN) has raised concerns over factors that may hinder the growth of Nigeria’s external reserves in 2024/2025. The removal of fuel subsidies, rising import costs, and increased debt servicing are cited as potential threats to the reserves.
This was detailed in the CBN’s Monetary, Credit, Foreign Trade, and Exchange Policy Guidelines for the fiscal years 2024/2025. Despite these challenges, the CBN projects overall economic growth for Nigeria, driven by policies supporting agriculture, oil sector reforms, and foreign exchange market adjustments.
“The outlook for Nigeria’s external sector in 2024/2025 is optimistic,” the CBN noted, with expectations of favorable trade terms due to higher oil prices and improved domestic production. However, the bank also highlighted risks such as lower oil revenues, increased import bills, and rising external debt obligations.
SEE NAIRA Rates Against The USD, GBP, EURO Today September 20, 2024
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