Leather sector players in Africa’s largest economy say the industry remains untapped despite its huge economic potential. They are calling on the government’s support.
Related stories: Video - Nigeria’s ponmo cuisine under threat as the leather sector seeks growth
Nigerians warned against eating ponmo due to Anthrax outbreak
Nigeria's cinemas have announced cumulative revenue of 21.5 million dollars over the past three years. Analysts attribute the strong performance to a combination of popular film releases and a surge in ticket sales
Related story: Top Foreign Movies That Were Filmed in Nigeria
Nigeria's naira dropped to a record low against the dollar on the thinly traded official market on Friday, FMDQ Exchange data showed on Monday, as the currency swung widely to overshoot the unofficial parallel market rate.
The naira fell as low as 1,421 to the dollar, during trading on Friday, FMDQ data showed, compared with around 1,400 naira quoted on the parallel market. The currency later closed at 891.90 naira on the official market.
The latest fall occurred after central bank Governor Olayemi Cardoso last Wednesday said the bank was trying to improve liquidity in the foreign exchange market.
Kyle Chapman, FX markets analyst at London-based Ballinger & Co. said the naira has overtaken the record low level it hit on the parallel market which could hamper the influx of capital needed to stabilise the exchange rate.
"The downwards spiral is becoming self-perpetuating at this point. The further it falls, the less investors want to enter Nigeria, and the deeper the risk premium embedded into the naira rate," Chapman said.
The naira's official exchange rate has been drifting towards the parallel market level as the central bank is yet to clear outstanding amounts owed in forward deals, worsening a shortage of foreign-currency in the West African nation.
By Chijioke Ohuocha, Reuters
If you're a Nigerian with a strong case of wanderlust, there's a world of destinations where your passport is your golden ticket to adventure.
Let's dive into some of the most enchanting destinations that do not require travellers to go through the hassle of getting a visa.
Top Visa-Free Countries
Barbados
Barbados, an island country in the Lesser Antilles of the West Indies, embodies the very essence of Caribbean charm and beauty. This destination is a treasure trove for Nigerian travellers seeking a perfect blend of sun-kissed beaches and culturally rich experiences.
Picture yourself on Crane Beach, where the sand is tinged with a delightful pink hue, and the crystal-clear waters beckon you for a refreshing swim. But this beach is not just about relaxation; it's also a gateway to various exhilarating water sports.
History enthusiasts will find delight in UNESCO-listed Bridgetown and its historic Garrison, providing a fascinating glimpse into the colonial past. Meanwhile, the St. Nicholas Abbey plantation house and rum distillery serve as a testament to Barbados' deep ties to sugarcane and rum production.
And let's not forget the culinary adventure that awaits. From the national dish, Cou-Cou and Flying Fish, to street-side delicacies like fishcakes and pudding and souse, Bajan cuisine offers flavours that are as diverse as they are tantalising.
Some famous personalities from Barbados include singer Rihanna, cricketer Sir Garfield Sobers and NFL player Ramon Harewood of the Baltimore Ravens.
Cape Verde
Cape Verde, an archipelago off the northwest coast of Africa, beckons Nigerian travellers with its unique blend of African, Brazilian, and Portuguese cultures. The islands themselves offer a kaleidoscope of experiences, from the lunar-like landscapes of Sal to the lush, rugged terrains of Santo Antão.
Sal's Santa Maria Beach, with its powdery white sands and turquoise waters, is a haven for water sports enthusiasts. Meanwhile, the cultural town of Mindelo on São Vicente is renowned for its vibrant music scene, particularly the morna music, often likened to the blues. Cape Verde's rich history comes alive in Cidade Velha, a UNESCO World Heritage site on Santiago Island, providing invaluable insights into the country's colonial past.
Don't miss the chance to savour Cachupa, Cape Verde's national dish, a slow-cooked stew of corn, beans, and fish or meat.
Cook Islands
The Cook Islands, a paradisiacal destination in the South Pacific, offer a serene escape for Nigerians seeking a harmonious blend of adventure and tranquillity. Rarotonga, the largest of the Cook Islands, is embraced by a stunning lagoon, inviting snorkelling and scuba diving enthusiasts to explore vibrant coral reefs.
Aitutaki, another gem in the archipelago, is renowned for its breathtaking lagoon and uninhabited islets, perfect for a romantic getaway or a day of exploration. However, these islands are not just about picturesque beaches. The lush trails of the Takitumu Conservation Area provide eco-tourism enthusiasts with an opportunity to immerse themselves in the rich flora and fauna.
The Cook Islands' culture, deeply rooted in Maori traditions, adds an extra layer of fascination. From spirited drum dances to intricate craftwork, the islands' cultural heritage is vibrant and engaging. Be sure to partake in the traditional umu feast, where food is cooked in an earth oven, offering a unique culinary experience that combines communal spirit with delicious flavours.
Kiribati
Kiribati, a sovereign state in Micronesia in the central Pacific Ocean, offers a unique destination for Nigerian travellers seeking off-the-beaten-path adventures. The country's 33 atolls, straddling the equator and the International Date Line, boast pristine beaches and an abundance of marine life, making it an ideal spot for fishing, diving, and snorkelling.
Tarawa, the capital, offers historical insights into World War II battles, with relics and memorials dotting the landscape. For those seeking tranquillity, the outer islands like Abaiang and Tabuaeran offer untouched beauty and an opportunity to experience the traditional I-Kiribati way of life.
Montserrat
Montserrat, a British Overseas Territory in the Caribbean, is known as the 'Emerald Isle of the Caribbean,' offering a unique blend of natural beauty and rich cultural heritage. The Soufrière Hills Volcano is a major attraction, with the Montserrat Volcano Observatory providing a safe vantage point for viewing the still-active volcano.
Saint Kitts and Nevis
Saint Kitts and Nevis, the twin-island nation in the Caribbean, is a captivating destination for Nigerian travellers looking for a rich blend of history, nature, and culture. Saint Kitts boasts breathtaking scenery, including the Brimstone Hill Fortress National Park, a well-preserved fortress and a UNESCO World Heritage site offering panoramic views of the surrounding islands.
Nevis, the smaller of the two islands, charms visitors with its laid-back atmosphere and natural hot springs, a testament to the island’s volcanic origins. For beach enthusiasts, the powdery sands of Frigate Bay and the tranquil Oualie Beach offer idyllic settings for relaxation and water activities.
Vanuatu
Vanuatu, an archipelago nation in the South Pacific, is a hidden gem for Nigerian travellers seeking a unique blend of adventure, culture, and natural beauty. The islands offer a range of experiences, from the adrenaline-pumping land diving on Pentecost Island, known as the origin of bungee jumping, to the serene blue holes of Espiritu Santo, perfect for swimming and snorkelling.
Tanna Island's Mount Yasur, an accessible active volcano, provides a once-in-a-lifetime opportunity to witness the raw power of nature.
Top Visa-on-Arrival Countries: Explore Further
While Nigerians can travel to the above countries without a visa, there are some countries that offer a visa on arrival – a convenient facility that gets you a visa after entering the respective country by providing valid documents.
Maldives
Imagine a place where overwater bungalows are your home, and the ocean is your backyard. That's the Maldives for you! This island nation, located in the Indian Ocean, is renowned for its luxurious resorts, coral reefs, and crystal-clear waters. As a Nigerian traveller, you'll be captivated by the allure of the Maldives.
The Maldives boasts an enchanting underwater world with some of the best snorkelling and diving spots on the planet. Dive into the depths of the ocean and swim alongside exotic marine life, including colourful corals, manta rays, and even whale sharks.
Maldives offers a visa valid for 30 days.
Mauritius
Mauritius, located in the Indian Ocean, is a paradise for nature lovers and culture enthusiasts alike. Its diverse landscapes range from pristine beaches and lush forests to dramatic volcanic craters.
One of the most iconic natural attractions is Chamarel's Seven Colored Earths, a geological wonder where sand dunes of seven different colours create a breathtaking sight. For a dose of adventure, hike to the summit of Le Morne Brabant, a UNESCO World Heritage site, and enjoy panoramic views of the island.
A Mauritius travel visa for Nigerians is valid for 14 days.
Seychelles
Seychelles, an archipelago of 115 islands in the Indian Ocean, is a haven for beach enthusiasts and nature admirers. It's known for its white sandy beaches, granite boulders, and lush tropical forests.
Anse Source d'Argent on La Digue Island is often cited as one of the world's most beautiful beaches, with its unique rock formations and shallow turquoise waters. Nature lovers can explore the Vallée de Mai Nature Reserve on Praslin Island, home to the rare coco de mer palm and the black parrot.
Nigerian travellers can explore Seychelles without a visa for 90 days.
Nigeria’s central bank is set to replace the external members of its monetary policy committee who say they have been sidelined ahead of a meeting in February. This comes amid an ongoing shakeup of the institution.
