Category: News
Naira Down To N1,540 In Parallel Market
The Naira fell to N1,540 per dollar in the parallel market yesterday, down from N1,525 per dollar on Tuesday.
But the Naira appreciated to N1,502.5 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN, showed that the exchange rate fell to N1,502.5 per dollar from N1,506.5 per dollar yesterday, indicating N6.5 appreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate expanded to N37.5 per dollar from N18.5 per dollar on Tuesday.
National Grid Collapses — First Time In 2025
The national power grid suffered a collapse on Wednesday.
Data obtained from the independent system operator (ISO) showed that the megawatt (MW) generated dropped from 2,917.83 (MW) to 1.5 (MW) between 11 am and 12 pm.
In a post on Twitter, Abuja Electricity Distribution Company (AEDC) confirmed the loss of power from the national grid.
“Please be informed that the power outage currently being experienced is due to a loss of supply from the national grid at 11:23 am today, affecting electricity supply across our franchise areas,” the company said.
“Rest assured, we are working closely with the relevant shareholders to ensure power is restored once the grid is stabilized. Thank you for your patience and understanding.”
On February 12, some parts of Nigeria were without electricity after the national grid experienced a system collapse, confirmed by electricity distribution companies.
On the same day, the Transmission Company of Nigeria (TCN) denied reports claiming that the national grid collapsed twice in 2025.
Similarly, in January, the commission denied reports of a national grid collapse.
On July 4, the Nigerian Electricity Regulatory Commission (NERC) said there was no grid collapse in the first quarter (Q1) of 2025.
However, the commission said it continues to propel the system operator (SO) to improve its system coordination activities.
Nigeria’s national grid suffered many collapses in the past year, leading to nationwide blackouts.
In 2024, the national grid collapsed 11 times.
Apple Launches iPhone 17 Pro
The Nigerian Association of Resident Doctors (NARD) will today (Wednesday) convene its National Executive Council meeting to decide on the next steps regarding its pending ultimatum to the Federal Government.
The association had earlier issued a 10-day ultimatum to relevant government agencies, warning that members would embark on a nationwide strike if their demands were not met.
The threat comes amid mounting pressure on Nigeria’s fragile public health system, which is already grappling with a shortage of doctors, poor infrastructure, and overcrowded hospitals.
Resident doctors, who constitute the majority of the medical workforce in teaching and specialist hospitals, have repeatedly gone on strike in recent years over unpaid wages, poor welfare, and inadequate working conditions.
Experts warn that another shutdown could cripple healthcare delivery, forcing patients to seek expensive private care and worsening health outcomes nationwide.
In a communiqué issued on September 1, 2025, and signed by NARD President, Dr. Tope Osundara; General Secretary, Dr. Oluwasola Odunbaku; and Publicity and Social Secretary, Dr. Omoha Amobi, the doctors demanded immediate payment of the outstanding 2025 Medical Residency Training Fund, settlement of five months’ arrears from the 25–35 per cent Consolidated Medical Salary Structure review, and other long-standing salary backlogs.
They also demanded the payment of the 2024 accoutrement allowance arrears, prompt disbursement of specialist allowances, and restoration of the recognition of the West African postgraduate membership certificates.
In addition, they called on the National Postgraduate Medical College of Nigeria to issue membership certificates to all deserving candidates, implement the 2024 CONMESS, resolve outstanding welfare issues in Kaduna State, and address the plight of resident doctors at LAUTECH Teaching Hospital, Ogbomoso.
Speaking with The PUNCH on Tuesday, Dr. Osundara said the outcome of today’s NEC meeting would determine the association’s next step.
“We are holding our NEC meeting tomorrow (today), and the outcome will determine our next line of action. At the meeting, we will review whether the government has made any meaningful progress on addressing our demands. If there is a positive response, it will guide our decision, but if not, the council will take a firm stance on the next steps, including the possibility of industrial action,” he said.
NARD First Vice-President, Dr. Tajudeen Abdulrauf, also confirmed that the NEC would reconvene today to assess the situation.
“The outcome of the meeting will depend on the government’s response to our demands. If they are not addressed, we cannot guarantee industrial harmony, and a strike remains likely. Remember, we gave a three-week ultimatum in July and extended it. In the spirit of dialogue, the NEC mandated the National Officers’ Committee to engage stakeholders for another three weeks, yet nothing has been done. When we meet tomorrow, we will review the government’s response and decide on the next line of action,” Abdulrauf said.