Business
Soludo Seeks a New Deal For Nigeria
**By Christian ABURIME
In a compelling convocation lecture delivered at Veritas University on November 7, 2024, Professor Chukwuma Charles Soludo, CFR, the Governor of Anambra State, outlined a vision for a transformative “New Deal for Nigeria.”
Reflecting on his own graduation experience four decades ago, Governor Soludo emphasised the stark contrast between past and present challenges faced by graduates.

He articulated concerns over Nigeria’s socio-economic issues, including rising inflation, unemployment, and a culture where wealth accumulation is prioritised over virtue.
Acknowledging the historical conditions that shaped his generation, Professor Soludo urged graduates to embrace their upcoming year of National Youth Service as an opportunity for personal and societal resetting.

He encouraged active volunteerism and community service, positioning these experiences as crucial for nurturing selfless public service.
He stressed the importance of continuous learning and adaptability in navigating the complexities of modern life, citing a worrying disconnect between graduates’ expectations and the reality of job availability.

Central to Professor Soludo’s message was the call for collective effort in nation-building, asserting that a new social contract encompassing basic socio-economic rights is essential.
He emphasised that graduates from Veritas University, equipped with a holistic education grounded in Christian principles, bear the responsibility of contributing positively to society.
Professor Soludo also advocated the need for a pragmatic approach to governance in Nigeria, reminiscent of the U.S. Marshall Plan, calling for infrastructural investment and a focus on human capital development.
He highlighted initiatives undertaken in Anambra State, such as massive investments in education and health, aimed at creating a more equitable society.
The erudite economist and former CBN governor further lamented the growing educational divide between rich and poor in the Nigerian society, proposing that breaking this cycle of poverty must be a priority.

By fostering an inclusive educational environment, he posited that Nigeria could maximise its demographic potential and prepare itself as a leading global labour supplier by 2050.
In wrapping up, Professor Soludo inspired graduates to view their futures as flexible and urged them to actively shape Nigeria’s destiny through engaged citizenship.
He called on them to cultivate hope, recognising that despite the challenges, they carry the responsibility to realise Nigeria’s potential as a great nation.
His rallying cry reminded the young graduates that true leadership and commitment to civic duty begin with individual action, urging them to contribute meaningfully to the nation’s future.
Business
Nigeria’s oil minister orders marketers to reduce fuel price
“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.
The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, at the NMDPRA General Counsel and Legal Advisers Forum, directed petroleum marketers to reduce fuel price .
At the two-day forum themed: “Beyond Compliance: Driving Regulatory Certainty and Investment Confidence in Nigeria’s Petroleum Sector, Lokpobiri noted that refiners and marketers have continued to sell petrol at elevated pump prices despite the significant decline in crude oil prices from a peak of $120 per barrel to about $72 per barrel last week.
He said: “Following de-escalation of tensions between Iran and the United States, we expected to see a commensurate downward adjustment in the prices of PMS and other petroleum products.However, that has not yet happened.”
“While we believe that market forces will eventually restore equilibrium, the regulator also has a statutory responsibility to ensure that deregulation does not become an avenue for profiteering. This must be done in line with the extant provisions of the Petroleum Industry Act,”said Lokpobiri.
Business
Naira Exchange Rates Tuesday, 30 June 2026
BLACK MARKET RATES
US DOLLAR (USD) ₦1, 390
GREAT BRITISH POUND (GBP) ₦1,855
EURO (EUR) ₦1, 585
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 390 Sell ₦1, 395
GREAT BRITISH POUND (GBP) Buy ₦1,855 Sell: ₦1,870
EURO (EUR) Buy ₦1, 585 Sell ₦1,605
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
OFFICIAL CBN EXCHANGE RATES
US DOLLAR (USD) ₦1,383. 63
GREAT BRITISH POUND (GBP) ₦1,831.64
EURO (EUR) ₦1,578. 03
SWISS FRANC (CHF) ₦1,710.71
JAPANESE YEN (JPN) ₦8.55
CHINESE YUAN (CNY) ₦203. 65
WEST AFRICAN CFA (XOF) ₦2.40
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,872. 07
SAUDI RIYAL (SAR) ₦368.43
SOUTH AFRICAN RAND (ZAR) ₦84.24
Business
Naira Exchange Rates Monday, 29 June 2026
OFFICIAL CBN EXCHANGE RATES
US DOLLAR (USD) ₦1,380. 93
GREAT BRITISH POUND (GBP) ₦1,824.90
EURO (EUR) ₦1,577. 58
SWISS FRANC (CHF) ₦1,710.13
JAPANESE YEN (JPN) ₦8.54
CHINESE YUAN (CNY) ₦203. 13
WEST AFRICAN CFA (XOF) ₦2.39
WEST AFRICAN UNIT ACCOUNT (WAUA) ₦1,867. 05
SAUDI RIYAL (SAR) ₦367.72
SOUTH AFRICAN RAND (ZAR) ₦83. 89
BLACK MARKET RATES
US DOLLAR (USD) Buy ₦1, 393 Sell ₦1, 400
GREAT BRITISH POUND (GBP) Buy ₦1,850 Sell: ₦1,870
EURO (EUR) Buy ₦1, 580 Sell ₦1,600
CANADIAN DOLLAR (CAD) Buy ₦1,030 Sell ₦1,100
SOUTH AFRICAN RAND (ZAR) Buy ₦75 Sell ₦90
UAE DIRHAM Buy ₦350 Sell ₦370
CHINESE YUAN Buy ₦180 Sell ₦200
GHANA CEDI (GHS) Buy ₦95 Sell ₦110
WEST AFRICAN CFA Buy ₦2, 380 Sell ₦2, 460
CENTRAL AFRICAN CFA Buy ₦2, 220 Sell 2,300
AUSTRALIAN DOLLAR Buy ₦800 Sell ₦900
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