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MANUFACTURING JOBS | Field Sales Manager at Dangote Group

The Dangote Group is a diversified and fully integrated conglomerate with interests across a range of sectors in Nigeria and Africa. Current interests include Cement, Sugar, Flour, Salt, Pasta, Beverages, Noodles, Poly Products, Transportation and real estate with new initiatives in the Oil and Gas, Telecommunication, Fertilizer and Steel sector of the economy.

Dangote Cement P.L.C. is the biggest quoted company in West Africa and the only Nigerian company listed among Forbes Global 2000 Companies. The Company currently has several cement production plants in Nigeria in addition to presence in 14 other African countries. To consolidate its current strategic expansion drive and as part of our growing vision.

We are recruiting to fill the position below:

Job Title: Field Sales Manager

Location: Lagos

Requirements

  • Candidates must have 5 years minimum experience in a similar role in an FMCG or Manufacturing company.

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should send their applications and CV’s to:amaka.chete@dangote.com

TOURISM & HOSPITALITY JOBS | Sales Manager at Westwood Hotel Ikoyi

The Westwood Hotel Ikoyi has a rich history. The first multi-storey building in the whole of West Africa, a landmark of remarkable reputation, the building, or Ile gogoro (Yoruba for ‘very tall house’) as it is fondly called by indigenes, was originally built for the renowned politician and orator, Samuel Akintola in 1959/1960. A residential block of 20 flats located on Awolowo Road in south west Ikoyi, it was built at the dawn of our independence, at a time when Akintola and Obafemi Awolowo, a renowned nationalist and statesman, were at the helm of affairs.

We are recruiting to fill the position below:

Job Title: Sales Manager

Location: Lagos

Job Descriptions

  • Candidate must be able to coordinate the sales team and utilize the available resources to achieve great results in that field.
  • Candidate must be extremely Hard-working,self-motivated and goal-oriented.

Application Closing Date
5th February, 2016.

How to Apply
Interested and qualified candidates should send their applications and CV’s to:cv@westwoodikoyi.com

IT/TELECOMS JOBS | Compliance Engineers at Cisco Nigeria

Cisco – The Internet of Everything is a phenomenon driving new opportunities for Cisco and it’s transforming our customers’ businesses worldwide. We are pioneers and have been since the early days of connectivity. Today, we are building teams that are expanding our technology solutions in the mobile, cloud, security, IT, and big data spaces, including software and consulting services. As Cisco delivers the network that powers the Internet, we are connecting the unconnected. Imagine creating unprecedented disruption. Collaborate with like-minded innovators in a fun and flexible culture that has earned Cisco global recognition as a Great Place To Work. With roughly 10 billion connected things in the world now and over 50 billion estimated in the future, your career has exponential possibilities at Cisco.

We are recruiting to fill the position of:

Job Title: Compliance Engineer

Location: Lagos

The Business Entity

  • Cisco Technical Services (TS) in EMEAR is a Strategic Differentiator to our transformational & strategic accounts, and a business differentiator to our top Partners, by accelerating customer and partner success and loyalty with new TS offers.

The Team

  • The EMEAR compliance team is responsible for certification of Cisco’s entire product range in the region in order to support Cisco’s business objectives for EMEAR. The new hire, to be based locally, will be responsible for the entire African continent.

Role & Responsibilities

  • Responsible for the certification (type approval) of Cisco products in the region (Africa).
  • He/she will support the local partners/distributors with the customs/importation procedures in case these procedures are linked to product compliance.
  • He/she will Influence the Regulations in order to reduce the burden of approvals by having international standards accepted rather than national standards.
  • His/her responsibilities may include active participation or follow up on specific activities taking place within the ATU (African Telecommunications Union).

Minimum Qualifications

  • He/she is fluent in French and English, knowledge of Arabic is an asset
  • He/she holds a university Degree or equivalent, preferable in Telecommunications
  • He/she is (or will become) familiar with the Radio, EMC, Safety, Telecom, Energy Efficiency, … regulations and related certification procedures in African countries.

Desired Skills:

  • He/she understands how to approach the individual authorities and how develop and negotiate contracts or conditions with the authorities or certification bodies including organizing factory visits as they might be part of the certification process in these countries.
  • He/she will establish and maintain an excellent relationship with those authorities.
  • He/she is (or will become) familiar with the import procedures, at least for those countries where the import procedures are linked to product compliance. That might also require close cooperation with other Cisco departments such as Logistics, Tax, Export Compliance, etc..

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidate should APPLY

BANKING & FINANCE JOBS | Search Research Analysts at KPMG Nigeria

KPMG Professional Services and KPMG Advisory Services are the KPMG member firm in Nigeria. The partners and people have been operating in Nigeria since 1978, providing multidisciplinary professional services to both local and international organisations within the Nigerian business community. Our vision is to build and sustain our reputation as the best firm to work with by ensuring our people, clients and communities achieve their full potential. At KPMG, we are committed to working with our clients to cut through complexities of the business world finding solutions and adding value.

We are recruiting to fill the position of:

Job Title: Research Analyst

Auto req ID: 104922BR
Location: Lagos
Function: Infrastructure – Marketing & Communications
Service Line: Marketing & Communications
Job Level: Associate/Team member
Contract Type: Permanent
Full Time / Part Time: Full Time

Principal Duties and Responsibilities
Lines of business (LOB) strategy sessions, technical sessions and national accounts meetings.

  • Set up all logistics arrangements for the meeting: seek for the venue to hold the meeting and send out meeting invites to all members of the LOB teams.
  • Obtain the details of ‘sold jobs’ and proposals sent: client, fees, nature of work, etc from managers. Confirm the information from the partners.

National Accounts meetings:

  • Coordinate strategy sessions of all national accounts.
  • Work with national accounts managers and partners to ensure all meetings are held.
  • Document and circulate action points of all national accounts’ meetings.

Follow-up on Action Points:

  • Closely follow-up on action points i.e. monitor the implementation of all LOBs and national accounts action points.
  • Extract and compile action points for each member.
  • Circulate the information to the person/group of persons responsible for the action point(s).
  • Closely monitor the deadline for each action point.

Client care assessment programme.
Specific action points required include the following:

  • Obtain the list of clients for client care assessment programme (CCAP) from the list of top-clients in the previous FY/as may be recommended by the Head, Sales and Marketing.
  • Book appointments for the interviews:
  • Liaise with KPMG personnel to obtain the details of the contacts for the interview.
  • Inform the clients of the interview and confirm the receipts /acceptance of the request.
  • Follow-up with the Partner to obtain the report of the interview.
  • Assist with collation, summary and presentations of the findings of the reports.

Minimum Education & Experience

  • Minimum of First Degree in any discipline (with a minimum of a second class lower division) with 1 – 3 years’ working experience.
  • Possession of Master’s degree/professional qualifications will be an advantage.

Knowledge, Skills & Abilities
Functional/Technical Skills:

  • Strong analytical, numerate, problem-solving, report writing and presentation skills.
  • Excellent verbal/oral communications skills
  • Technology appreciation, including a working understanding of MS Office Suite especially Microsoft Excel, Powerpoint and Word.
  • Ability to gather data, compile and make inferences on the information gathered.
  • Good understanding of economic and financial indicators.
  • Ability to be multi-tasking and determined at meeting deadlines.
  • Strong planning, time and workload management, and execution skills

Behavioural/Management Development Skills:

  • Relationship building and networking skills
  • Strong team building skills
  • Training, coaching and mentoring/supervising abilities.
  • Strong interpersonal skills and ability to work in diverse teams
  • Skills in organising resources and establishing priorities/targets
  • Customer service orientation
  • Diplomacy and tact
  • Confidence and pragmatism.

Application Closing Date
Not Specified.

How to Apply
Interested and qualified candidates should APPLY

Nigeria Loses $2.4 Million Daily to Pipeline Attacks

NNPC

Multiple attacks on strategic oil and gas installations is costing Nigeria $2.4 million daily, a Cabinet minister said this on  Tuesday as the military launched a manhunt for a militant and warned it will hold community leaders responsible for the “economic sabotage.”

The attacks began Friday in the southern Niger Delta after a court issued an arrest warrant for former warlord Government “Tompolo” Ekpemupolo in connection with $17.4 million that has gone missing from government coffers.

Explosions on a Nigerian Gas Company pipeline connected to the Escravos facility of Chevron Nigeria is costing the country $1.98 million daily in lost power and $400,000 in gas. Power Minister, Babatunde Fashola said, adding repairs would cost another $600,000.

Hundreds of people are fleeing the area and companies are evacuating workers for fear of a harsh military crackdown, community chieftain Elekute Macaulay told The Associated Press.

Tompolo has denied involvement in the theft and the attacks, centered around his hometown of Gbaramatu.
Residents said the military has launched a manhunt for Tompolo in the creeks and mangrove swamps and that militants are patrolling in home-made gunboats.

FG Can Effectively Finance N2.2 Trillion Budget Deficit – NSE

The Chief Executive of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, has stated that the outstanding federal government N2.2 trillion budget deficits could be adequately financed through the instruments in the capital market.

He reiterated that the stock exchange is set up to efficiently finance the economy from equity and fixed income perspective and other asset class perspective, Also the NSE will focus on making do with its strategy in order to provide a credible platform for financing the economy.

The NSE chief said: “Like many emerging markets’ governments, the Federal Government of Nigeria (FGN) is largely dependent on oil exports as its leading revenue source. Thus FGN revenue suffered extensively from sustained low commodities prices in the global market, as well as political and economic policy uncertainty leading up to and following the general elections held in April 2015.

“Sustained uncertainty in the country led to postponed decision making by business leaders in anticipation of clearer direction on economic policies, thus slowing economic activity.

Akwa Ibom Government Takes Preventive Steps to Curb Lassa Fever Outbreak

The Akwa Ibom Government on Wednesday said that it had set out to create necessary measures to prevent the outbreak of Lassa fever in the state. According to News Agency of Nigeria (NAN) in Uyo, the state’s Epidemiologist, Dr Aniekeme Uwah, said the state had commenced an awareness campaign against the disease since September, 2015.

“Besides, we have done a lot in terms of producing flyers, erection of bill boards, news commentaries on radio and holding of periodic meetings with disease surveillance/notification personnel, hence, with the spread of the fever, we are just trying to build on what we had already started by erecting more bill boards in three major languages in the state and make radio jingles to deepen the awareness,” he said.

Other measures inclusive, are border surveillance by the Rapid Response Team around neighbouring communities with Rivers.

According to the epidemiologist, government would meet with representatives of the World Health Organisation, United Nations Children’s Education Fund and other major Non Governmental Organisations on prevention of the fever.

FG Reconstitutes National Task Force on Polio Eradication

The Federal Government has reiterated its commitment towards permanently exiting the list of polio-endemic countries by 2017, and has reconstituted the National Task Force on Polio Eradication to enable it function adequately.

President Buhari stated this at the signing signing of the updated Abuja commitment of polio eradication with state governors at the Presidential Villa Abuja yesterday,  that all 36 state governors would partake in the new deal as members of the task force in view of their strategic positions as leaders of their respective states.

However, the American billionaire and founder of Bill and Melinda Gates Foundation, Bill Gates, President of Dangote Group of Companies, Dr. Aliko Dangote, the U.S. Ambassador to Nigeria, James Entwistle, the governors of Zamafara, Delta, Adamawa, Nasarawa, Kano among others witnessed the signing ceremony.

Also they joined other governors in signing of a Memorandum of Understanding (MoU) in Kaduna State which states to launch a new partnership that would commit political and financial resources to strengthen and sustain routine immunisation programmes towards keeping Nigeria polio-free.

The objective of the MOUs was to reach 80 percent of the target population in the states involved with the necessary life-saving vaccines by December 2018 to prevent common childhood diseases and ensure a polio-free environment.

25 Million Pupils to Be Fed as Science and Tech Ministry Partners FIIRO, NASCO on Feeding Programme

Over N2bn Spent On School Feeding In Adamawa - FG

As part of efforts to improve the School Feeding Programme of the Federal Government, the Federal Ministry of Science and Technology (FMST) through the Federal Institute of Industrial Research, Oshodi (FIIRO), Lagos, and NASCO Foods Limited, Jos, Plateau State, have partnered for commercial production of High Nutrient Density (HND) Biscuit.

The HND Biscuit was developed by FMST through FIIRO for the School Feeding Programme of the Federal Government.The HND biscuit was developed to meet one-third Recommended Dietary Allowance (RDA) requirements of school age children to be produced on commercial basis by NASCO Foods Limited.

To this effect, a team of highly experienced technical staff of NASCO Foods visited FIIRO on Wednesday, January 13, 2016 at the instance of the Hon. Minister, FMST, Dr. Ogbonnaya Onu, for further discussion on the collaborative effort on the National School Feeding Programme.

According to Elemo who is the C.E.O of FIIRO, the collaboration is going to be win- win for all the parties involved and the benefit is enormous from the angle of utilization of indigenous raw materials in the formulation of the biscuits; conservation of foreign exchange; creation of jobs and improvement in enrolments of school children as well as enhancement of mental capacity of the children.

At the end of the technical session, timelines were drawn for some of the major activities including MoU signing (Wednesday, January 20, 2016); Commencement of pilot trial runs on NASCO Biscuit production lines (Wednesday, January 27, 2016); Stakeholders’/Consultative Forum (Thursday, February 25, 2016) and Product Launch on Thursday, April 28, 2016

Court Orders FG to Bring Dasuki to Court on February 16.

Dasuki

Justice Adeniyi Ademola of a Federal High Court in Abuja‎ has ordered the federal government to produce former national security adviser (NSA), Col. Sambo Dasuki (rtd) in court on February 16 to answer criminal charges filed against him.

The court said that it was mandatory for a defendant in a criminal matter to be physically present in court at every stage of the prosecution except where the presence of an accused is excused by court for justifiable reasons.

Justice Ademola made the order following the failure of government to bring Dasuki to court yesterday in continuation of his trial without any reason.

Dasuki’s counsel, Mr. Joseph Daudu (SAN), had also complained bitterly that his client was abducted by security agents of the federal government six weeks ago to an unknown destination without his family and lawyers having access to him.

The SAN also recalled that in three different high courts where Dasuki was arraigned by the government, he (Dasuki) was admitted to bail by the three courts, but till date, the government and its agents had refused to allow Dasuki go on bail.

He then urged the judge to compel the federal government and its agents to respect the court’s decision.

 

Farmers Revolt: Ekiti Farmers Lock Horns With Governor Fayose over Designated Area for Proposed Airport

Farm owners in the Aso-Ayegunle area of Ado Ekiti on Wednesday staged a protest against the 4,000 hectares of land earmarked for the building of the proposed Ekiti Airport by Governor Ayodele Fayose.

The farmers, who rebuked the state government for destroying their crops, also accused the state government of not compensating them since initiating the project.

They described the destruction of their cocoa trees and other valuable crops by government without prior notice ‘as “wicked and callous.”

Asking the government to relocate the airport project to the state forest reserve, they alleged that some of their members had died from shock because of the government’s insensitivity to their plight.

However, the Commissioner for Information, Lanre Ogunsuyi, said the government had no plan to relocate the airport, saying all land in the state belong to government and that compensation will be made as appropriate.

#MasterCard Wellness Month kicks off with @MyKamdora in #Nigeria

Sticking to your New Year’s resolutions can be difficult. MasterCard in partnership with Kamdora.com will help keep you motivated with the introduction of the first MasterCard Wellness Month in Lagos, an initiative running from 18 January until 17 February 2016.

Achieving your health and fitness goals has never been easier, or more fun, if you are a MasterCard cardholder.  The MasterCard Wellness Month creates the perfect excuse to treat yourself to a spa treatment or a healthy smoothie from select and premium merchants, such as Spa and Fitness (Four Points), Venivici Health Club and Urban Spa, Bodyline Wellness Centre, So Fresh Market and Gingerbox.

Over the past few years there has been a considerable growth in the health and fitness sector, which is encouraging as it shows that Nigerians are taking their health more seriously. The core essence of this initiative is to help people lead healthier and happier lives.

“People in Lagos are stylish and sophisticated and pride themselves on how they look. Our readers are trend setters who like to live active and healthy lifestyles, and for this reason there is no better way to reward them. Wellness Month will help kick-off the year with a bang and give our readers the perfect excuse to treat themselves to a spa treatment or a healthy smoothie after completing their jog for the day,” says Denika Fadina, Head of Sales and Partnership for Kamdora.com.

As part of the MasterCard Wellness Month, Lagosians will be able to take part in a 5km walk/run in February in the heart of the city. Hosted at the iconic Ikoyi-Lekki toll bridge. Participants will be able to enjoy a fun day out with fellow fitness enthusiasts, friends or family members while soaking up the warm Nigerian sun. For more information visit Kamdora.com.

“This is our first MasterCard Wellness Month initiative, and we wanted to create something memorable for our cardholders. Being part of the MasterCard family means that you have an exclusive ticket to a world of exclusive offers and priceless experiences.  MasterCard cardholders are invited to reward themselves as there is simply no better gift than wellbeing, it will help you deal with the craziness of the New Year and beyond,” says Omoke Ojomuyide, Vice President and Area Business Head, MasterCard West Africa.

After an action packed workout, crossing the finish line of your first 5 km race or a relaxing spa treatment with the girls, share your experiences on Twitter at @MyKamdora or @MasterCardMEA by using #MasterCardWellnessMonth or #Wellnesswithkamdora and #WellnessIsTrending.  Alternatively visit the Kamdora.com Instagram page and upload your images.  The best selfies of people enjoying a wellness moment will be selected and those shortlisted will stand a chance to win loads of goodies.

Stocks End Eight Consecutive Day Fall with N302billion Gain

Stocks market value surged on Wednesday, January 20 by over 3 per cent to halt an eight straight days losing streak.
At the end of the mid-week trading on the floor of the Nigerian Stock Exchange (NSE), the market capitalization surged by N302 billion from N7.723 trillion it opened to close at N8.025 trillion.
Market turnover closes negative as volume declined by 5.42 per cent against 30.66 per cent uptick recorded in the previous session. Guaranty Trust Bank Plc, FCMB Plc and UBA Plc were the most active to boost market turnover.
Top on gainers’ log was Nestle Nigeria Plc with a gain of N33.75 kobo to close at N708.85 kobo, followed by Dangote Cement Plc with N5.38 kobo to close at N128.89 kobo, and Lafarge Africa Plc with N3.47 kobo to close at N83.47 kobo per share.

“Importation Doesn’t Impede Economic Growth” – IMAN President

President of the Importers Association of Nigeria, IMAN,Ralph John in an interview with Daily Trust, stated that contrary to the belief that importation is not healthy for any nation’s economy, it can be well exploited by government to drive industrialization.

He said: The Importers Association of Nigeria was established a long time ago and the essence is to bring all industrialists and importers together and to assist them in doing genuine business that will help economic growth.

“We advise the CBN to enlighten the importers on government policy. Another important thing is that if an importer brings in items that don’t have much market value at home, he has only succeeded in transferring abroad money that would develop other economies.”

“But the importers don’t see it that way; all they look at is an opportunity to earn easy money. We want to make them know that they can shift from that perspective to a patriotic perspective that can serve the country better while they earn their more money.”

“When an importer shifts from importing just anything to importing the necessary things, he earns more money. Government, too, should be conscious that its responsibility is not all about clamping down on importers, but is more on providing the enabling environment to do business. ”

“That is the reason why we were unhappy that the past administration was unserious with importers. That administration was toying with importers without telling them what exactly they were supposed to know. Without importers, no economy can function well.”

“We are calling on the government to partner with us as it should for the nation’s economic growth. Importers shouldn’t be regarded as people who bring in illegal goods.”

Dangote, BOA, Farmers Seal MoU on Tomato Production

Dangote farms, Bank of Agriculture (BOA) and Kano State Water Users Association on Wednesday, January 20, in Kano State signed a Memorandum of Understanding  on tomato production for the consumption of Dansa Tomato Company, a subsidiary of Dangote farms.
While elaborating the content of the MoU, acting zonal director of BOA Salma Isa stated that, the sum of N55.8 million has been approved by the bank for the take-off of the pilot project which comprises 100 registered farmers as beneficiaries on 100 hectares.
She added that, each registered farmer will get a loan of N558, 000 which will be disbursed partly in cash and partly in supply of improved seeds variety, fertilizers and other farming requirements.
“This is a pilot program and we wish to extend it to 20,000 farmers in respect to the outcome of the pilot. Each farmer is expected to produce 40 tons of tomato on a hectare which for the uptake of the company,” she stated.

Global Stock Markets Plummet Amid Oil Price Crash

Stock markets worldwide have crashed with anxious investors fretting over the continued slide in oil prices and fears about the impact on global growth.

On Wall Street the Dow Jones and S&P 500 were 2% lower in early trading, while the Nasdaq fell 2.3%.

The FTSE 100, Germany’s Dax and the Cac 40 in Paris are all trading about 2.5% lower – resuming the year’s sell-off.

Many markets are now in so called “bear market” territory – a fall of 20% or more from their most recent peak.

The falls in Europe and the US came after Asian stocks closed sharply lower.

Markets in Dubai closed at a 28-month low, while in Japan shares fell to their lowest level since October 2014.

Top emerging market shares and currencies were also caught up in the turmoil, with the Russian rouble hitting a new record low of 80.295 against the dollar.

Asset prices were pumped up by ultra-low interest rates in the developed world and also by the central banks that have engaged in quantitative easing, buying financial assets with newly created money.

 

Nigeria’s Non-oil Exports Crashes By N1.2trillion

Nigeria’s non-oil exports has plunged by N1.2 trillion, the Central Bank of Nigeria, CBN governor, Godwin Emefiele, disclosed this on Wednesday, January 20,at a conference in Abuja on “Growing Nigeria’s Non-oil Exports.”

The apex bank boss blamed the decline on the low level of export loans from the banking sector.

According to him, available statistics showed that whereas credit to non-oil exports had been declining in the last five years, credit to the economy had been on the increase.

The CBN governor, who put the total credit to non-oil exports at 0.6 per cent of domestic credit to the economy, explained that such level of funding cannot unlock the potential of the non-oil sector and explained that the CBN and Nigerian Export-Import Bank (NEXIM) put together the conference with the aim of devising strategies to increase the sector’s contribution to economic growth.

“Exports are an essential component in the national income and it has a very important role in supporting the nation’s economy against the backdrop of weak oil prices. It has been observed that while credit to non-oil exports is declining and currently at an average of 0.6 per cent of total domestic loans to the private sector in the last five years, the domestic credit to the economy has been on the rise.”

“The low level of export loans has no doubt also contributed, to a large extent, to the decline in non-oil export revenue receipts from $10.53 billion in 2014 to $4.39 billion in 2015.”

“The impact of these developments to on the country’s export growth potentials are quite significant and has become instructive for stakeholders to dialogue towards evolving responsive strategies that will expand resources for exports and its funding programmes on a complimentary basis,” he said.

 

FG Eyes Billions As Revenue From N50 Stamp Duty

The federal government is set to net billions of naira with the implementation of the N50 Stamp Duty charge, which the Central Bank of Nigeria (CBN) directed all deposit money banks and other financial institutions to collect.

It is estimated that about N1.0 billion will be generated from cheque base transactions, asides what will be generated from electronic funds transfer, instant payments and cash deposits.

It is expected that the government will make more money from transfers, as banks’ customers now do more transactions online and through ATM transfers, making cheque transactions shrink.

According to data from the Inter Bank Settlement System (NIBSS) which processes all electronic transactions in the country, over 15 million cheques were processed in 2014 while over 10 million cheques had been processed by the end of 2015 third quarter.

Total electronic funds transfer and instant payments between January and September last year was 71.14 million. As at September 30, 2015, total current accounts in the country stood at 22.06 million.

The CBN had directed that banks and other financial institutions deduct N50 for every deposit above N1000 as stamp duty. Checks by Leadership revealed that most banks had begun to comply with the directive which was supposed to take effect immediately.

The N50 stamp duty is to be charged on all accounts except for savings accounts. Also deposit made by self into self accounts whether inter or intra bank is also not to be charged.

 

Naira Hits 305 against Dollar at Parallel Market

The naira on Wednesday, January 20 rose to 305 at the Bureau De Change (BDC) in Abuja and Lagos.

The dollar scarcity at the BDCs followed CBN’s last week of stoppage of forex sales to the BDCs in a new control on forex operations to save Nigeria’s foreign reserve currently standing at some $28 billion.

Also the CBN policy which closed the RDAS and WDAS windows in 2015 also stopped the banks from selling foreign currencies to BDCs.

 

Prices of Commodities Surge Over Scarcity of Forex

The scarcity of forex in the nation’s money market has led to the surge in the prices of some imported goods in the country  in recent times.

The consistent rise of the Dollar and other foreign currencies such as CFA, Pound Sterling and Euro against the naira has  affected the prices of electronics, stationaries, and cloths, building materials, food such as sugar, rice vegetable and palm oil among others.

A bag of sugar in some markets in Abuja are now N9,000 up from N7,500 two weeks ago, a 25 litre of Vegetable and Palm oils now sold at between N7,500 to N8,000 from N6,700, Daily Trust gathered.

Battery pack AA size was N250 now is N350. Rice, a staple food in almost all the households in the country was affected by the price hike in the market, a 50 kg of imported rice is now between N10,700 to N11,000 and the 25 kg as high N5,500 from about N10,000 and N4,800 respectively in the December 2015.

At the electronic markets, phone such as BlackBerry, Infinix, Samsung, Nokia, and LG and their accessories went up sharply as some distributors increased the prices by almost 5 per cent when the naira crashed to about N300 per dollar two weeks ago.

A dealer in imported clothes in Sabon Gari area, Dayyabu Muhammed told Daily Trust that he had to constantly adjust the prices of his wares because if the prices remain fixed, the losses he would incur could cripple the business.

He said a new shirt for men which previously sold at N1,200 is now sold between N1,700 to N2,000 while a denim trouser rose from N2,000 to N3,000 or N3,500.

 

 

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