
News
FG seeks $10bn to stabilise exchange rate as naira tumbles
The Nigerian Federal Government is planning to raise $10bn to improve liquidity in the foreign exchange market.
On Tuesday, the naira fell to an all-time low of 1,850 per dollar at the parallel market.
President Bola Tinubu, who was represented by Vice President Kashim Shettima, disclosed this at the inaugural Public Wealth Management Conference in Abuja on Tuesday.
The Ministry of Finance Incorporated organised the event with the theme “Championing Nigeria’s Economic Prosperity”.
In a statement on Tuesday, the Senior Special Assistant to the President on Media & Communications, Stanley Nkwocha explained, “The Federal Government set a goal to raise at least $10bn in order to increase foreign exchange liquidity, a key ingredient to stabilise the naira and grow the economy.
“At the core of this is ensuring optimal management of the assets and investments of the Federal Government towards unlocking their revenue potential. This includes our bold and achievable plan to double the GDP growth rate and significantly increase the GDP base over the next 8 years.”
The President further emphasised transparency and accountability as key principles, believing that improved corporate governance, innovative partnerships, and attracting alternative investment capital would significantly increase returns.

He noted that these improved returns will then be directed towards “crucial funding for education, healthcare, housing, power, roads and other areas vital to lifting millions out of poverty and stimulating sustainable economic development and job creation for the youth”.
Meanwhile, it was learnt that exchange rate volatility continued across the country on Tuesday despite the heavy presence of security personnel at the Wuse Zone 4 currency market in Abuja.
Currency traders in Abuja quoted the buying price of the dollar at 1,820/$ and the selling price at 1,850/$, leaving a profit margin of 30.
A bureau de change operator, Ibrahim Taura, predicted that the rates might reach an all-time low of 2,000/$ if proper measures were not put in place.
“The police filled everywhere in the market today but that still didn’t change everything. Today’s rate finished at 1,850/$ and I will buy it at that rate right now because there is demand,” he stated.
Another operator said he could only buy at the rate of 1,700/$, adding that the market was not suitable for good business.
However, the naira appreciated by 1.48 per cent to 1,551/$ at the official market, following an improved forex turnover of $117.32m.
This came after the local weakened for three consecutive days at the Nigerian Autonomous Foreign Exchange.
The country has been battling with a lingering forex shortage due to a decline in oil production and foreign inflows.
According to data from FMDQ Securities, a platform that oversees foreign exchange trading in Nigeria, the local currency hit an intra-day trading high of 1,701/$ and a low of N1,100 before closing at N1,551/$ on Tuesday.
In June 2023, the Central Bank of Nigeria floated the naira after unifying all segments of the forex market, which has resulted in significant devaluation of the local currency
News
Obi donates N10 million to burnt hospital in Enugu
Presidential candidate of the Nigeria Democratic Congress (NDC) in the forthcoming 2027 general election, Mr. Peter Obi, has donated N10 million to assist in the renovation of the burnt Mother of Christ Specialist Hospital, Enugu State.
The former Anambra State governor handed over the cheque for the donation to the hospital management team when he visited the hospital yesterday.
The hospital belongs to the Reverend Sisters of the Immaculate Heart of the Catholic Church.

Mr Peter Obi inspecting the burnt hospital
Addressing the hospital management team after inspecting parts of the burnt hospital, the NDC presidential candidate commended them for their efforts in contributing to healthcare delivery services.
Telling them that even though they might feel that they were not being appreciated for what they were doing, Obi, however, described healthcare delivery services and education as among the “most critical needs of society” and urged them not to relent in what they were doing.

Accompanied during the visit by his Chief of Staff, Commissioner for Housing, as well as Special Adviser on Media when he was Anambra State governor, Prof. Stella Okunna, Prof. Patrick Obi, and Dr. Valentine Obienyem respectively, Obi assured the hospital management team that he would continue to support them.
Part of the hospital gutted by the inferno and inspected by Obi was the Children’s Ward.
Expressing gratitude on behalf of the hospital management, the Chief Medical Director of Immaculate Heart Hospital, Nkpor, Anambra State, Rev. Sister Dr. Maria Nkiruka Okafor, eulogised Obi for his sacrifices and selfless contributions to humanity.
Disclosing that Obi had already credited the hospital’s accountant with the N10 million donation and that he was even the person who called her to inform her that he had received the sad news of the inferno and promised to donate towards the renovation, Rev. Sister Okafor described him as a rare politician.
She prayed that God would grant him his ambition to become President of the country and enable him to achieve his desire to transform it.
News
FG, Enugu State target direct China-Enugu Cargo flights by December – Keyamo
The Federal Government and Enugu State Government are in talks to ensure the commencement of direct cargo flight operations between Enugu and Guangzhou, China, before the end of the year.
The Minister of Aviation and Aerospace Development, Barr Festus Keyamo, disclosed this in Lagos during the launch of the United Air’s newly acquired airplanes on Thursday.
The Minister added said the FG had affected a structural management overhaul at the Akanu Ibiam International Airport, also bringing the airport under a privately run operational framework.

Enugu Airline
“One of our prides in the South is the Enugu International Airport. The Enugu governor approached Mr. President, noting that the airport was not maximising its economic potential under standard bureaucratic structures, and requested to bring in private investors to run it. Mr. President gave the green light.
“As I speak with you, Enugu is now fully privately owned and fully supported by state government, with the clear objective of also turning it into a dedicated cargo hub for the entire Southeast.”

To this effect, therefore, Keyamo said that a high-level bilateral trade negotiations were ongoing with a view to securing direct logistics flights between China and the Southeast by the end of 2026.
“Just two days ago, the Enugu governor and I were actively negotiating the first direct cargo flight from Guangzhou, China, straight into Enugu.
“We are targeting December for the maiden flight. This will allow our Southeast merchants and traders in China to consolidate their goods into unified cargo accounts twice a week, flying straight into Enugu for seamless delivery to hubs like Onitsha and Aba,” he concluded.
It is recalled that Governor Mbah had in July 2025 launched Enugu Air, a state-owned airline, as part of the administration’s integrated blueprint for a modern, multimodal transport ecosystem and the vision to make Enugu a major aviation and logistics hub.
Since then, Enugu Air has grown its fleet from three at inception to six planes with plans to further increase it as it prepares to commence operations to regional destinations like Accra, Libreville, Abidjan in next few months and long haul flight operations to various destinations around the world by the end of the year.
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