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Naira appreciates to N1,680/$ in parallel market

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Naira

Naira appreciates to N1,680/$ in parallel market. The Naira yesterday appreciated to N1,680 per dollar in the parallel market compared to N1,690 per dollar last weekend.

Similarly, the Naira appreciated to N1,552.92 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,552.92 per dollar from N1,641.27 per dollar last weekend, indicating N88.35 appreciation for the naira.

The volume of dollars traded (turnover) in the official market declined by 44 percent to $343.71 million from $616.73 million traded last week Friday.

Consequently, the margin between the parallel market and NAFEM rate widened to N127.08 per dollar from N48.73 per dollar last weekend.

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8 historical photos that changed the world

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8 historical photos that changed the world

Photography is more than just a medium of capturing images—it is a powerful force that preserves history, sparks emotions, and

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9 Smart ways Nigerians are cutting food costs amid rising prices

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This change has led to more careful shopping, planned meals, and a greater focus on buying local and seasonal produce. With methods such as buying in bulk and growing food at home, consumers are finding ways to stretch their budgets without lowering quality.

The following 9 tips outline clear strategies that help households reduce waste, get more value, and secure fresh, affordable food.

These measures support daily financial needs and contribute to a stronger, lasting lifestyle.

ALSO READ: 5 ways you can save money on food in a bad economy

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1) Bulk Buying

Purchasing items that do not spoil quickly in larger quantities helps lower the cost per unit and reduces the number of shopping trips. Buying staples like rice, beans, and oil in large amounts allows families to benefit from lower prices while ensuring a steady supply of essential foods.

2) Seasonal Purchasing

Choosing fruits and vegetables that are in season can lead to considerable savings. Seasonal produce is usually more plentiful and less expensive because transportation and storage costs are lower. This practice cuts food bills and encourages the use of fresher, more nutritious foods.

3) Local Sourcing

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Buying from local markets or directly from farmers avoids extra costs linked to middlemen and long supply chains. This method often results in better prices and fresher products while also supporting local farms and community growth.

EXPLORE: 7 food crops you can easily grow around your house

4) Home Gardening

Starting a garden at home, even a small one on a balcony or in a backyard, can help add to daily food needs. Growing vegetables, herbs, and some fruits at home lowers reliance on store-bought produce, reduces costs, and ensures that the produce is fresh.

5) Meal Planning and Budgeting

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Planning meals in advance and creating detailed shopping lists based on a set budget can prevent imTuro247newz.com buying and reduce waste. This method involves planning weekly menus, determining portion sizes, and listing needed ingredients so that every item bought is used well.

6) Reducing Food Waste

Using proper storage methods such as airtight containers and correct refrigeration helps extend the shelf life of perishable items. Reusing leftovers in new meals minimizes waste, ensuring that every ingredient purchased contributes to the family’s nutrition and lowers spending.

7) Using Discounts and Promotions

Taking advantage of sales, vouchers, and seasonal promotions at supermarkets and local shops can lead to meaningful savings. Keeping track of special offers and joining loyalty programs increases savings, allowing consumers to buy quality food at lower prices.

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8) Price Comparison

Regularly comparing prices across different markets, supermarkets, and online stores helps find the most affordable options. This practice encourages shoppers to be proactive, ensuring they get the best value for each purchase and avoid overpriced items.

9) Cooking in Bulk

Preparing larger amounts of food and storing portions for later can save both time and money. Cooking in bulk lowers daily cooking costs by reducing energy use and helps control portions, which reduces food waste and overall expenses.

By adopting these nine strategies, Nigerian households can better manage rising food bills and build a more lasting approach to daily nutrition.

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These tips foster financial discipline and resourcefulness, ensuring that families can continue to enjoy quality, healthy meals without straining their budgets. In doing so, they also support local economies and contribute to a resilient food system that benefits communities in the long run.

ALSO READ: Cost of healthy diet for adult Nigerian stood at ₦1,255 in August – Report


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Damagum disowns Wike’s South-South Congress

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Umar Damagum

…says PDP remains the party to beat in 2027 general election The Acting National Chairman of the Peoples Democratic Party

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