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Naira Depreciation Costs Nigerian Manufacturers N792 Billion as Forex, Infrastructure Issues Deepen Challenges

Reflecting Nigeria's ongoing economic hurdles, George Onafowokan, chairman of the Ogun State chapter of the Manufacturers Association of Nigeria (MAN), revealed that 16 major manufacturing companies have collectively incurred losses of N792 billion due to the naira's sharp depreciation. Onafowokan attributed this loss primarily to the government’s decision to float…

WTO Sets Special Meeting to Confirm Ngozi Okonjo-Iweala as Sole Candidate for Second Term as Director-General

The World Trade Organization (WTO) has announced a special General Council meeting set for November 28-29, 2024, to proceed with the selection of the next Director-General. In a statement, the Council Chair, Ambassador Petter Ølberg of Norway, explained that this meeting follows the recent announcement that no candidates emerged by…

Seplat Energy Announces Naira Exchange Rate for Q3 Dividends, Highlights Transformative Impact of Mobil Nigeria Acquisition

Seplat Energy Plc has announced the exchange rate for determining its third-quarter 2024 dividend payout for shareholders who opt to receive payments in naira. According to a corporate disclosure accessed by *The Whistler*, the applicable rate will be N1,681.42 per $1, based on the NAFEM closing rate as of November…

Enugu TUC Chairman Criticizes State Delays in Implementing N70,000 Minimum Wage, Calls for Accountability Amid Looming Strike

Comrade Ben Asogwa, Chairman of the Trade Union Congress in Enugu State, expressed disappointment on Tuesday over some states’ hesitation to implement the new N70,000 minimum wage agreed upon by the Organized Labour and the government. His statement comes in response to the Nigeria Labour Congress’s recent call for a…

BII to Announce Major Climate Finance Partnerships at COP29, Aiming to Bridge $2.5 Trillion Gap in Emerging Markets

British International Investment (BII), the UK’s development finance institution and impact investor, is set to announce new investments and partnerships aimed at climate finance mobilization across West Africa and other emerging markets at COP29. BII’s initiatives target increased private capital flow into renewable projects in regions particularly vulnerable to climate…