Business

RMRDC Debuts Quarterly Statistical Bulletin Series

Published

2 years ago

January 20, 2025

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The Raw Materials Research and Development Council (RMRDC) has officially launched its Quarterly Statistical Bulletin Series, an initiative aimed at redefining the trajectory of Nigeria’s industrial landscape, providing a cornerstone of data-driven policy formulations, and a vital tool for industrial transformation in Nigeria.

The Director-General of RMRDC, Prof. Nnanyelugo Ike-Muonso, said during the launch of the publication, weekend, in Abuja, that the council’s mission has always been clear: to harness Nigeria’s abundant raw materials for sustainable industrial development.

He observed that the council had intensified efforts to provide evidence-based data and insights to stakeholders, investors, and policymakers, enabling them to identify opportunities, address challenges, and shape effective policies for economic growth.

“The Quarterly Statistical Bulletin Series is a publication that provides data quarterly on the analysis of Nigeria’s foreign trade (HS Code 01 – 97), which is captured at customs entry points throughout the country by the Nigeria Customs Service and uploaded into the Nigeria Integrated Customs Information System (NICIS2).

The quantity and value of imports and exports of these raw materials and products categorized by their respective Double-Digit HS-Code are analyzed to derive key indicators of interest.

The publication addresses the country’s raw materials imports substitution/deletion, local utilization rates, and other key components of the economy such as employment, industry, exchange rate, etc,” the DG stated Prof. Nnanyelugo emphasized that the Quarterly Statistical Bulletin is more than a publication; he said it is a transformative tool for national development.

Stressing also that it shall provide comprehensive and meticulously analyzed data on Nigeria’s foreign trade, raw materials processing, and utilization rates and said it is critical for identifying trends, making informed decisions, and shaping the future of our industries.

Related Topics:Debuts Quarterly Statistical Bulletin Series RMRDC

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Naira Exchange Rates Thursday, August 27

Today, the Naira Black Market exchange rate for 1 US Dollar is 1405 Naira, while the Central Bank of Nigeria (CBN) sets the official exchange rate for the Nigerian Naira against dollars at N1,343.59.

Published

4 hours ago

August 27, 2026

OCHEFA

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Today, the Naira Black Market exchange rate for 1 US Dollar is 1405 Naira, while the Central Bank of Nigeria (CBN) sets the official exchange rate for the Naira against dollars at N1,343.59

BLACK MARKET RATES

US Dollar (USD) Buy ₦1,405 Sell ₦1,410

Great British Pound(GBP) Buy ₦1,895 Sell: ₦1,915

EURO (EUR) Buy ₦1,595 Sell ₦1,615

Canadian Dollar (CAD) Buy ₦1,020 Sell ₦1,080

South African Rand (ZAR) Buy ₦75 Sell ₦90

Ghana CEDI (GHS) Buy ₦95 Sell ₦110

West African CFA Buy ₦2, 300 Sell ₦2, 400

CENTRAL AFRICAN CFA Buy ₦2,150 Sell 2,250

CBN Exchange Rates

US Dollar (USD) ₦1,343.59

Great British Pound (GBP) ₦1,827.96

EURO (EUR) ₦1,566.09

Swiss Franc (CHF) ₦1,668.44

Chinese Yuan (CNY) ₦199.87

Japanese Yen (Yen) ₦8.43

West African CFA (XOF) ₦2. 39

West African Unit Account (WAUA) ₦1,847.86

Saudi Riyal (SAR) ₦357.84

South African Rand (ZAR) ₦84.16

Business

Meta U.S. agrees to pay $18bn lawsuits over children’s social media addiction

Meta agreed for the next decade to restrict teenagers’ use of Facebook and Instagram to two hours a day and block all usage from midnight to 6 a.m., absent parental consent.

Published

13 hours ago

August 26, 2026

OCHEFA

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Meta Platforms on Wednesday agreed to make major changes to Facebook and Instagram and pay up to $18 billion to resolve claims by most U.S. states that it designed those platforms to addict children and misled consumers about their safety.

Reuters reported that the settlements end a federal trial that had been one of the highest-profile tests of allegations that social media companies harm children.

It said that while Meta will not undergo a fundamental overhaul, the ‌accords represent a sweeping effort to define how it serves young users.

The focus of this case was to protect our kids,” Colorado Attorney General Phil Weiser said in a statement.

“The relief we are getting in this settlement is very meaningful and well beyond what any court has ordered or is likely to order.”

Meta agreed for the next decade to restrict teenagers’ use of Facebook and Instagram to two hours a day and block all usage from midnight to 6 a.m., absent parental consent.

These limits could be tightened if other social media companies adopt similar terms.

Meta will also enhance measures to prevent children from accessing age-restricted content.

The settlement does not require Meta, which denied wrongdoing in agreeing to settle, to abandon personalized recommendations or targeted advertising.

The total payout represents about three to four months of profit for the Menlo ⁠Park, California-based company.