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Rwanda’s fuel prices leap for the first time in 2020

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The Rwanda Utility Regulatory Authority (RURA) has new fuel prices, which will effective Thursday, September 3 says pump prices increase both for petrol and diesel.

This is the first time the prices for both petroleum products have increased since the beginning of the year, and most especially since the outbreak of Coronavirus pandemic.

Effective Thursday, September 3, a litre of petrol will cost Rwf966, up from Rwf908 while diesel prices have been increased to Rwf943 from Rwf883.

The regulator announced the new tariff in a statement released on Wednesday evening.

While reasons behind the increment were not disclosed, local fluctuations had been attributed to the price volatility on the international market.

In May, the cost of a litre of petrol dropped from Rwf1,088 in March to Rwf965. At the same time, diesel had dropped from Rwf1,073 to Rwf925.

In March, oil prices slumped on the international market following an apparent crude oil war between major oil exporters including Saudi Arabia and Russia.

At the time when the coronavirus outbreak forced countries into total lockdowns, member states of the Organisation of Petroleum Exporting Countries failed to reach a consensus on scaling down the production of petroleum, owing to the slump in demand.

The conflict triggered a record oil price slump which had not been observed in the last 30 years.

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NC Village Square | The Rising Insecurity in Nigeria

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Nigeria is in a security crisis and too many of these incidents have gone unchecked. Boko Haram and ISWAP terrorists are killing with reckless abandon, and the Nigerian people want an end to the bloodshed.

Watch Sulaiman Aledeh as he discusses the rising insecurity in Nigeria with a Security expert from Abuja, Kabir Adamu and a preventive terrorism expert from the UK, Temitope Olodo.

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NC Village Square | What Attributed To The Resurgence Of Terrorism In Nigeria?

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Boko Haram has risen and returned with damning destruction. Nigeria’s President, Muhammadu Buhari has been asked to sack the nation’s Service Chiefs now, before the nation is plunged into a state it may never recover from. The coming days will tell how serious the Nigerian government is about its own people, their stability and security.

Watch Village Square Africa with Sulaiman Aledeh as he asks a retired commodore, Abimbola Ayuba and African affairs analyst, Lanre Suraj what attributed to the resurgence of terrorism in Nigeria.

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Business Edge | CBN Directs Banks to Close International Monetary Transfer Operators’ Proceeds

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Today on Business Edge, Tolulope Adeleru-Balogun and Tunji Andrews, Financial Analyst and Co-founder Awabah talked about the following and how it affects you and I: 1. Nigeria’s CBN Directs Banks to Close International Monetary Transfer Operators’ (IMTOs) Proceeds 2. Forex Liquidity and the Risks to Nigerian Banks’ Ratings according to Fitch

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