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NAIRA SETS NEW RECORD IN OFFICIAL BLACK MARKET AS DANGOTE BUA OTHERS AGREE TO REDUCE CEMENT PRICE
On Monday, February 19, 2023, the black saw the local currency fall to N,1730, losing N130 from what it exchanged over the weekend compared to the N1,600 per dollar it traded on Friday, February 16 2024
Also, the official exchange rate window recorded a daily turnover of $66.43 million on Monday, February 19, 2024, compared to the $84.1 million recorded on Friday, showing a 20.98 loss. The naira recorded the highest sport rate of N1,712 and the lowest of N1,100 per dollar
Cement producers slash price The development comes as Nigeria’s leading cement manufacturers agreed on Monday, February 19, 2024, to slash prices, noting that despite business costs, a 50kg bag should not sell higher than N7,000 and N8,000
Dangote Cement, BUA and Lafarge said after a meeting with the minister of Works and Housing, David Umahi and the minister of industry, trade and investment, Doris Uzoka-Anite, that a price monitoring team would be establish to ensure complice
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