Naira Weakens Further to N1,309/$ at Official Window, Plunges to N1,450/$ at Parallel Market Analysts urge FG to complement CBN's initiatives, say currency’s recovery transient
James Emejo in Abuja and Nume Ekeghe in Lagos
The naira weakened against the dollar across the official and parallel markets yesterday, manifesting four
consecutive days of losses. The naira settled at N1,309.81/$1 at the Nigerian Autonomous Foreign
Exchange Market (NAFEM) window yesterday, representing a N1.36 decline compared to N1,308.52/$1
on Wednesday. Similarly, at the parallel market, the naira plunged by N150, when
it closed at N1,450/$1, compared to Continued on page 5
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FG to Julius Berger: Return to N200bn Bonny-Bodo Road or Face Contract Termination...Page 8
NNPC Signs Deal to Build Another 100,000bpd Refining Plant within Port Harcourt Refinery Fuel queues worsen in Abuja, environs, NNPC says issue resolved Emmanuel Addeh in Abuja The Nigerian National Petroleum
Company Limited (NNPC) yesterday signed a contract with African Refinery Port Harcourt Limited
(ARPHL) to build a 100,000bpd refinery within the Port Harcourt Refinery and Petrochemical Complex
in Rivers state. The national oil company disclosed the deal on its X handle,
indicating that the Executive Director, Downstream of the NNPC, Dapo Segun signed on its behalf.
On its website, ARPHL described Continued on page 5
Tinubu: We Will Continue to Take Difficult Decisions for Nigeria Despite Short-term Pain Says nation has seen worst of storms, yet unafraid of consequences since his actions are in best long-term interest Outlines roadmap for trade opportunities at meeting with Netherlands PM Tells Dutch industry partnerships must be transformative Dutch investors to activate additional $250m investment in Nigeria Deji Elumoye in Abuja President Bola Ahmed Tinubu, yesterday, said his government would continue to take difficult decisions for the Nigerian people, despite the short-term pains that often come with such choices. Speaking at a meeting with Prime Minister Mark Rutte of the Netherlands, in The Hague, Tinubu said Nigeria had seen the worst of storms, yet he was not afraid of the consequences of his actions since they were in the best long-term interest of the people. Noting that Nigeria offerred
immense trade opportunities to the Netherlands across a pool of sectors, Tinubu, who met Rutte at his official residence, known as The Catshuis, in The Hague, also stated that his administration was already deepening reforms to enhance the investment climate. The president disclosed that Nigeria was well-positioned to power the clean energy future of Europe and the world with its high-grade lithium deposits. Tinubu said Nigeria sought robust, balanced, and mutually Continued on page 5
Court Sets Aside Arrest Warrant against TRANSFORMATIVE PARTNERSHIPS WITH NETHERLANDS... Gov Fubara's Chief of Staff, Edison Ehie... Page11 FOSTERING President Bola Ahmed Tinubu (L) with Prime Minister of Netherlands, Mr. Mark Rutte during Tinubu's official visit to Holland.... yesterday