BENUE ASSEMBLY PASSES FORESTRY, MINING COMMISSION BILL TO BOOST ECONOMY, ENVIRONMENT. (PHOTO).

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 BENUE ASSEMBLY PASSES FORESTRY, MINING COMMISSION BILL TO BOOST ECONOMY, ENVIRONMENT  The Benue State House of Assembly has passed into law a bill establishing a Forestry, Mines and Solid Minerals Commission, marking a significant step toward economic diversification and environmental protection. The move is expected to strengthen regulation in the state’s resource sector while addressing concerns around sustainability and local benefits. The bill scaled third reading during plenary presided over by Speaker Rt. Hon. Berger Alfred Emberga. It followed a detailed report by the House Committee on Lands, Survey, Solid Minerals, and Environment. Lawmakers say the new commission will coordinate the exploration and management of forest and mineral resources without clashing with federal agencies. It is designed to attract investment through Special Purpose Vehicles (SPVs), while enabling the state to collect land use fees and surface rents. The law also mandates environmental safegu...
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NAIRA DEPRECIATION CONTINUES AS DOLLAR SUPPLY FALLS TO ALL-TIKE LOW AT DOREX MARKET. (PHOTO).

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 Naira depreciation continues as dollar supply falls to all-time low at forex market


Naira depreciation continued as US dollar transactions at the official foreign exchange market dropped to an all-time low of $84.38 million.


This is according to FMDQ data at the close of work on Thursday.


The day-to-day FX supply turnover dropped from $160.77 million on Tuesday to $84.38 million on Thursday.


Consequently, the Naira further dipped to N1459.73 per dollar on Thursday from N1416.57 on Wednesday.


This represents an N43.17 depreciation against the dollar at the official foreign exchange market.


Similarly, the Naira dropped to N1,450 per dollar on Thursday in the parallel market section, compared to N1,438 the previous day. This brings the gap between the official and parallel markets to N9.73.


Naira’s depreciation has been consistent for days now in the FX market.


The country’s forex instability has persisted despite the recent surge in foreign reserves by $262 million.

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