OVER 25 MILLION PHONES STOLEN IN ONE YEAR- FG. (PHOTO).

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 Over 25 million phones stolen in one year – FG The Crime Experience and Security Perception Survey report of the National Bureau of Statistics, a Federal Government agency, shows that Nigeria recorded 25.35 million phone theft cases between May 2023 and April 2024. According to the report, this was the most common type of crime within the period under review. The report read, “The number of crimes experienced by individuals in Nigeria was analysed over a period of time. The results show that theft of phones (25,354,417) was the most common crime experienced by individuals, followed by consumer fraud (12,107,210) and assault (8,453,258). However, hijacking of cars (333,349) was the least crime experienced by individuals within the reference period.” It also noted that most phone theft cases occurred either at home or in a public place, and about 90 per cent of such cases were reported to the police. Despite the high rate of the incident being reported, only about 11.7 per cent of t...
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'OUR BUSINESSES ARE DYING',MOTOR PARTS DEALERS LAMENT DOLLAR SCARCITY.[PHOTO]..

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 ‘Our Businesses Are Dying,’ Motor Parts Dealers Lament Dollar Scarcity


People who own cars or run a transport business will attest to the persistent cost of maintaining their cars. The problem of dollar exchange and sourcing for the currency to carry out export activities by Nigerian motor parts importers is currently biting hard across the country.


Infact, most Nigerian motor parts importers are grappling to survive even in the Federal Capital Territories as some of the markets have lost their boom.


Motor parts importers have lost their credit worthiness before their foreign suppliers who formerly gave them goods on credit.


The prices of automobile engines and other motor parts have risen at an alarming rate as the naira has continued to lose its value.


The naira is trading at N410.89 per dollar at the Central Bank of Nigeria rate, while it is trading around N572 at the unofficial market, but the more serious challenge is the supply of the dollar.


The scarcity has led to a spike in prices of different commodities in the Nigerian market. Earlier in January 2021, a Toyota Highlander 2008 engine was N300,000, but it now sells around N550,000 to N600,000.


A Toyota Corolla S engine as of December was between N320,000 to N330,000 now sells for N380,000 and N400,000.

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