Good morning, Nigeria, and welcome to Topnaija.ng latest Nigerian news updates, including the newspaper headlines for today, Monday, October 21, 2024.

Nigeria’s cooking gas prices increase to N1,500/kg in 2024

The price of Liquefied Petroleum Gas (LPG), commonly known as cooking gas, has surged dramatically in Nigeria, rising from N700 per kilogram in June 2023 to N1,500 per kilogram in October 2024—an increase of approximately 114% within 16 months.

This surge is attributed to the rising exchange rate, as LPG is priced in dollars, coupled with the devaluation of the naira, which has fallen to about N1,700 to a dollar from less than N700 in May 2023. Read more here.

National grid: Nigeria faces rising electricity costs

Amid Nigeria’s ongoing power challenges, Minister of Power, Adebayo Adelabu, has highlighted the high cost of generating electricity privately due to the surging prices of petrol and diesel. Speaking at an event in Lagos, Adelabu noted that generating one kilowatt-hour (kWh) of electricity privately with petrol now costs about N750, while diesel-powered generation costs N950 per kWh. This far exceeds the N209/kWh paid by Band A customers under the national grid.

His comments come as Nigeria grapples with the aftermath of three grid collapses in just 48 hours, sparking widespread power outages and increasing concerns over the stability of the national grid. Adelabu emphasized that while customers often criticize the Band A tariff, it remains far cheaper than relying on fuel-powered generators, which have become prohibitively expensive due to rising fuel costs. Read more here.

Black Market Dollar to Naira exchange rate today, October 21st 2024

The black market dollar to Naira exchange rate on Monday 21st October 2024 can be accessed below.

Topnaija News has obtained the official naira black market exchange rate in Nigeria today including the Black Market rates, Bureau De Change (BDC), and CBN rates. Please note that the exchange rate is subject to hourly fluctuations influenced by the supply and demand of dollars in the market.

As of now, you can purchase 1 dollar at a certain rate now, however, it’s important to remember that the rate can shift (either upwards or downwards) within hours. Read more here

Nigeria imports 123.4M litres of petrol to address fuel shortages

Four vessels carrying Premium Motor Spirit (PMS), commonly known as petrol, arrived at Nigerian seaports between Friday, October 18, and Sunday, October 20, delivering 123.4 million litres of fuel to address fuel shortages.

According to documents obtained from the Nigerian Ports Authority, the shipments, aimed at addressing fuel shortages and boosting fuel supply across the country, docked at the Apapa Port in Lagos and the Calabar Port in Cross River State. Read more here.

“Let’s look at the positives” — Reece James

Liverpool versus Chelsea at Anfield was a close encounter that could have gone either way, but Blues’ Captain Reece James wants to look at the positives.

Following an underwhelming 2023/24 season and a few weeks on the sidelines this season, the Right-Back returned to the Chelsea lineup to face on current league leaders Liverpool at their home turf in an eventual 2-1 defeat.

Despite Chelsea’s narrow 2-1 defeat to Liverpool, Reece James remains optimistic about the Blues’ future this season. Read more here.

Thanks for joining us for the Topnaija News Morning roundup! Stay informed on the latest news updates and have a fantastic day. For more updates, visit www.topnaija.ng.