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Naira Appreciates Slightly To End Week On Positive Note

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The naira appreciated consecutively against the dollar at the official foreign exchange market to close the week on a good note.

FMDQ Data showed that the naira gained slightly at N1600 per dollar on Friday from N1601.20 exchanged on Thursday.

Friday’s gain is the second time the naira has appreciated in the week under review.

However, the naira shed its value three times against the dollar this week.

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In comparison with the exchange rate of N1600.78 per dollar last Friday, the country’s currency gained N0.78 at the close of the week under review.

Meanwhile, at the black market, the naira lost N15 to close at N1740 per dollar after starting the week with N1725.

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FG Approves Kogi’s Bid To Build International Airport In Zariagi

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The Federal Ministry of Aviation and Aerospace Development has approved bid by the Kogi State Government to build an International Airport in Zariagi.

The State Commissioner for Information and Communications, Kingsley Fanwo, said the approval was conveyed in a letter by the Federal Ministry of Aviation and Aerospace Development, dated 9th October, 2024.

He said the administration of Usman Ododo was committed to the timely completion of the project with strict adherence to regulatory standards, saying an airport in Kogi State would serve 10 other states and reduce traffic on the Lokoja -Abuja road.

It will also decongest the traffic at the International Airport in Abuja.

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“The Ododo Administration has considered it a top priority for Kogi State to have an International Airport and join the league of the aviation hub. The strategic location of the state is no doubt, an invaluable advantage in harnessing the aviation service market as the centre of the nation.

“The project will not only boost the economy of the State, it will also create jobs and bring the potential of the state to the global scene.

“The Governor is determined to hire the best hands in the industry to make the project a huge success. As you are aware, aviation is an industry of trust and standards.

“We thank President Bola Ahmed Tinubu, GCFR and the Aviation Minister for the historic approval that will help to further develop Kogi State. We want to also say that the Airport will also have capacity for Cargo as that is one of our key focuses in the project,” the commissioner stated.

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Fanwo assured the people of Kogi State that the administration of Ododo would continue to execute laudable projects to consolidate the gains of the last eight years in Kogi State.

Zariagi is a very strategic community that already boasts of an airstrip. The team from the Ministry of Aviation and Aerospace Development was satisfied with the location and the plans of the Kogi State Government on the project, he said.

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IMF denies asking Tinubu to remove fuel subsidy

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The International Monetary Fund (IMF) has denied being behind the removal of fuel subsidy in Nigeria, saying it was a decision taken by the country’s government.

IMF’s African Region Director Abebe Selassie said this on Friday at the IMF and World Bank Annual Meetings in Washington DC, US.

“The decision was a domestic one. We don’t have programmes in Nigeria. Our role is limited to regular dialogue, as we have with other nations like Japan or the UK,” Abebe said.

President Bola Tinubu during his inauguration in May 2023 declared that fuel “subsidy is gone”. That pronouncement immediately led to a hike in the cost of the commodity across the country. From about ₦200 per litre, the product is selling for about ₦1,200 in several parts of Nigeria.

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Five burnt to death as bus catches fire in Ebonyi road accident

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At least five people on Friday died in Ebonyi State, as a bus filled with passengers caught fire.

It gathered that the incident happened in Abakaliki, capital of Ebonyi State, along the Abakaliki-Enugu Expressway, near the G-hostel junction.

It was not immediately clear where the bus came from into the city.

However, the passengers were said to be Alumni of a secondary school in the state who were coming for an event.

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Sources said the bus came into the state around 20 minutes past midnight when it caught fire.

The police spokesperson in Ebonyi, Joshua Ụkandu, confirmed the incident.

He said the vehicle ran into some obstacles on the road placed by a maintenance team renovating some bad sections of the road, and then it caught fire.

Mr Ukandu confirmed that five people were burnt to death.

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According to him, seven other passengers suffered severe burns and were receiving treatment at the hospital.

He said: “The incident happened around 00:20hrs. There are some bad spots on the road where some reconstruction is ongoing. The driver may not have been aware and so ran into the obstacles on the road and lost control.

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