Business
MAN Asks FG to Implement single -use plastic ban in phases
The Manufacturers Association of Nigeria (MAN), on Tuesday, has called on the Federal Government government to put in place a phased implementation policy for the proposed single-use plastics ban.
This is to allow the operators in the sector sufficient time to adapt and mitigate disruptions that will arise from the ban.
The Association also advocates for an adequate government-stakeholders engagement and collaborative efforts on the journey to the eventual elimination of single use plastics.
‘MAN supports a balanced approach in addressing the challenges posed by single-use plastics. While recognizing the need to protect the environment, we also emphasize the importance of mitigating economic disruptions for our members,” said MAN.
The association, assures it’s committed to collaborating with government agencies, environmental groups, and other stakeholders to develop sustainable solutions that balance environmental concerns with the need to protect jobs and guarantee the survival of businesses.
The statement further reads: “In this regards, adequate incentive should be given to offset the costs of adopting alternative materials, including tax breaks to encourage investment in sustainable technologies, and comprehensive training programmes to equip the workforce with the necessary skills.
Furthermore, we proposes the establishment of a dedicated fund to support Research and Development into sustainable packaging solutions.
This would foster innovation and create new business opportunities within the manufacturing sector.
It is also important to state that many manufacturers have already commenced the implementation of extended producer responsibility (EPR) schemes, which hold producers responsible for the entire lifecycle of their products, including end-of-life management.
“By working collaboratively with the government and other stakeholders, MAN is ready to play crucial role in shaping a win-win transition to a single-use plastics free environment.
The one that minimizes business closures and job losses, and ensures a smoother transition to a circular economy.”
Business
BREAKING: Uber winds down operations in Nigeria, effective September 2
“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.”
• An Uber driver at work
Ride-hailing company, Uber, has shut down its operations in Nigeria.
In a statement, the company, which came into Nigeria in 2014, said its exit is effective from September 2, 2026.
“After a thorough review, we have taken the difficult decision to wind down operations in Nigeria, effective September 2, 2026.”
“Since we first launched in Lagos in 2014, it has been an absolute privilege to be a part of your daily life connecting you with independent transportation providers.
“Whether it was a morning commute, a ride to see loved ones, or exploring the city, thank you for trusting the platform to connect you to a driver to get you there safely. We know this may cause disruption to your routine, and we sincerely apologize for the inconvenience.”
Uber said said its plan is to support drivers, riders and local team members through the transition.
Business
Allawee shutting down operations by December 1, warns customers must withdraw by November 30
Allawee warned that payments sent to its account numbers from December 1, 2026 will fail, while its cards will also stop working, regardless of the expiry dates printed on them.
• Allawee logo
Nigerian card-issuing fintech Allawee is shutting down its business and personal account services from December 1, 2026.
This follows its acquisition by Pay Stack.
Accordingly, customers have been given until November 30 to withdraw their funds and make alternative arrangements.
The company disclosed the decision in emails sent to customers, according to TechCabal, explaining that its technology now operates within Paystack following the latter’s acquisition of Allawee in 2025.
Allawee warned that payments sent to its account numbers from December 1, 2026 will fail, while its cards will also stop working, regardless of the expiry dates printed on them.
Customers have been advised to withdraw their balances before the deadline, provide new bank details to people or businesses that regularly pay them, and replace saved Allawee card information on subscriptions and other recurring payments.Allawee said customers would not lose their money because of the shutdown. “Your money will remain yours,” the company said.
Business
Naira Exchange Rates Wednesday, September 2
BLACK MARKET RATES
US Dollar (USD) ₦1,400
Great British Pound(GBP) ₦1,890
EURO (EUR) ₦1,580
Canadian Dollar (CAD) ₦1,020
South African Rand (ZAR) ₦75
Ghana CEDI (GHS) ₦95
West African CFA Buy ₦2, 300
CENTRAL AFRICAN CFA Buy ₦2,150
CBN Exchange Rates
US Dollar (USD) ₦1,329.43
Great British Pound (GBP) ₦1,800.18
EURO (EUR) ₦1,542. 01
Swiss Franc (CHF) ₦1,637.63
Chinese Yuan (CNY) ₦197.79
Japanese Yen (Yen) ₦8.31
West African CFA (XOF) ₦2.36
West African Unit Account (WAUA) ₦1,823.95
Saudi Riyal (SAR) ₦354.08 South African Rand (ZAR) ₦82.47
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