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Fuel scarcity worsens, black market booms at N300/litre
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Herconomy Lightbox Session
Inflationary pressures and supply chain issues are real and apparently here to stay, so short-term survival takes precedence over long-term growth.
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MAC & Herconomy Make-Up Training Sessions
This week, MAC Cosmetics in conjunction with Herconomy will be hosting 2 training sessions for the Herconomy community.
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Local Stories
Fuel scarcity: Petrol is now sold for N185/litre in Lagos, Ogun States
Fuel scarcity has worsened across Lagos, Ogun States, as filling stations now sell Premium Motor Spirit (PMS), popularly known as petrol, at N185 per litre or more. Read more…
Osun 2022: INEC to engage PLWDs as ad hoc staff
The Resident Electoral Commissioner for the Independent National Electoral Commission in Osun State, Prof Abdulganniy Raji, has said some Persons Living With Disabilities will be engaged as ad hoc staff in the July 16 governorship poll in the state. Read more…
Buhari says FG to decentralise national grid, invest $550 million to boost power supply
President Muhammadu Buhari has assured international investors that his administration is taking steps to improve Nigeria’s power supply despite constraints and bottlenecks which have seen multiple incidents of grid failures. Read more…
Aregbesola launches e-passport in Edo, warns against extortion
The Minister of Interior, Rauf Aregbesola, on Tuesday, warned men of the Nigeria Immigration Service, Edo State Command, to shun acts capable of working against the Federal Government’s efforts to ensure that Nigerians could procure international passports with ease. Read more…
Osun 2022: 500 PDP members in Oyetola’s LG defect to APC
Over 500 supporters of the Peoples Democratic Party from the Boripe Local Government Area of Osun State, have defected to the All Progressives Congress. Read more…
Pipeline vandalism: IPOB dismisses the allegation as Buhari blames the group
The President, Major General Muhammadu Buhari (retd.), has accused a secessionist group, the Indigenous People of Biafra of vandalising oil pipelines and other infrastructure. Read more…
Herders invade Gov Ortom’s hometown, kill 16 timber dealers
No fewer than 16 kinsmen of Governor Samuel Ortom of Benue State were Monday, reportedly murdered in a fresh attack by suspected armed herdsmen, who invaded Udei and Yelwata communities in the Guma Local Government Area, LGA, of the state. Read more…
Buhari defends Emefiele’s economic policies
President Muhammadu Buhari, yesterday, dismissed criticisms of the monetary policy of the Central Bank of Nigeria, CBN, saying the apex bank’s governor, Godwin Emefiele, puts people at the heart of policies. Read more…
Buhari accuses the UK, and EU of inconsistency, and contradiction on green energy policy
President Muhammadu Buhari has accused the United Kingdom (UK) and European Union (EU) countries of inconsistency and contradiction on green energy policy and asked them to invest in the planned 4000 km pipeline meant to transport Nigerian gas to Europe via Morocco. Read more…
Fuel scarcity: Petroleum regulatory authority insists petrol must remain at N165 per litre
Nigeria’s Midstream and Downstream Petroleum Regulatory Authority has insisted that fuel prices must remain at N165 because it is a regulated product and the prices are fixed. Read more…
International Stories
China sends dozens of warplanes into the skies near Taiwan
A total of 29 Chinese warplanes entered Taiwan's self-declared air defence identification zone (ADIZ) on Tuesday, according to the island's Defense Ministry. Read more…
Japan tracks eight Russian and Chinese warships near its territory
At least eight Russian and Chinese warships have been spotted in the seas near Japan this week, another sign of the apparent pressure the two partners have been putting on Tokyo as relations deteriorate over Ukraine and Taiwan respectively. Read more…
More than 900 people were killed after a magnitude 5.9 earthquake hits eastern Afghanistan
More than 900 people were killed and hundreds more wounded after a magnitude 5.9 earthquake hit eastern Afghanistan Wednesday, according to an official from the country's disaster management authority. Read more…
Monkeypox cases confirmed in South Korea, Singapore
Singapore has reported the first confirmed case of monkeypox in Southeast Asia during this year's outbreak -- while another confirmed case has been found in South Korea. Read more…
US gun control: Bill clears the first hurdle in US Senate
The US Senate has taken a first step towards passing what has been called the most significant new gun controls in a generation. Read more…
Russia warns Lithuania of the consequences of the rail transit blockade
Russia has warned Lithuania of "serious" consequences after it banned the rail transfer of some goods to the Russian territory of Kaliningrad. Read more…
Business Matters
Forex supply surges by 135% to $108.1 million at the I&E window
the exchange rate between the naira and the US dollar closed at N420.28/$1 at the Investors and Exporters (I&E) window. Read more…
Buhari says FG to decentralise national grid, invest $550 million to boost power supply
President Muhammadu Buhari has assured international investors that his administration is taking steps to improve Nigeria’s power supply despite constraints and bottlenecks which have seen multiple incidents of grid failures. Read more…
Aviation fuel and others to cost airlines $9.7b losses in 2022
Global airlines, yesterday, announced an upgrade to its outlook for the airline industry’s 2022 financial performance, with the recent spike in aviation fuel headlining the major hurdle for recovery and profitability. Read more…
Naira appreciates at Investors, Exporters window by 0.25%
The Naira on Tuesday appreciated at the Investors and Exporters window, exchanging at N420.27 to the dollar, a 0.25 per cent appreciation against N421.33 traded on Monday. Read more…
Fuel scarcity worsens, black market booms at N300/litre
Fuel scarcity worsened in Lagos, the Federal Capital Territory and other parts of the country on Tuesday, resulting in motorists spending hours at filling stations. Read more…
Tech Updates
Twitter board recommends shareholders vote in support of Musk acquisition
Twitter's board of directors has unanimously recommended that the social media company's shareholders vote to approve its sale to Elon Musk, according to a regulatory filing on Tuesday. Read more…
Amazon Names Doug Herrington as New Boss of Worldwide Stores
Amazon.com Inc. has named longtime executive Doug Herrington as its new boss of worldwide stores following the departure of Dave Clark, who led its warehousing and e-commerce operations and is leaving the company. Read more…
Metro
Amazon Prime Video partners with Nemsia studios on Nollywood pioneer slate deal
Amazon Prime has announced its anticipated pioneer slate of commissioned projects in Nollywood. Read more…
Naomi Osaka partners with Lebron James, to launch a media company
Tennis champion, Naomi Osaka is partnering with SpringHill Company, a media conglomerate created by Lebron James to launch a media production company. Read more…
Quote of the Day
"The road to success is not easy to navigate, but with hard work, drive, and passion, it's possible to achieve the American dream."
—Tommy Hilfiger