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  • Five countries where Naira has more value than local currency

    Five countries where Naira has more value than local currency

    For Nigerians planning to travel abroad without worrying about fluctuating exchange rates, there are destinations where the naira holds more value than the local currency.

    Exchange rates can significantly impact travel budgets, and choosing a country where the naira is stronger allows for better spending power and a more enjoyable trip.

    Here are five countries where Nigerians can maximize their naira while traveling:

    1. Vietnam

    As of February 6, 2025, the exchange rate is approximately 16.86 Vietnamese Dong for 1 Nigerian Naira. Nigerian citizens must obtain a visa before traveling to Vietnam, whether for tourism or business purposes. In addition to the visa, Nigerian passport holders should ensure their passport is valid for at least six months beyond their intended arrival date and contains at least two blank pages for visa stamps.

    2. Indonesia

    One Nigerian Naira is currently equivalent to about 10.47 Indonesian Rupiah, making Indonesia an affordable destination. Nigerian citizens need a visa for tourism or business trips. To qualify for a tourist visa, travelers must have a Nigerian passport valid for at least six months beyond their stay. Proof of onward travel, such as a return ticket or departure confirmation, is also required. It’s recommended to check with the Indonesian embassy for the latest visa application details before booking your trip.

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    3. Uganda

    For Nigerian passport holders seeking to explore East Africa, Uganda is an excellent choice, with 1 Nigerian Naira equaling 2.45 Ugandan Shillings. Nigerians need a visa to enter Uganda, but the process is streamlined with the e-Visa system. You can apply online through the Uganda Immigration Portal. After submitting your application and necessary documents, you’ll receive an approval letter via email if granted. Upon arrival, you’ll need to present your passport and e-Visa at immigration.

    4. Tanzania 

    The exchange rate is currently 1 Nigerian Naira to 1.71 Tanzanian Shillings, making Tanzania a budget-friendly option. Nigerian travelers must apply for a visa to enter the country. The e-Visa process simplifies the application, which can be completed online before departure. Once approved, travelers will receive an e-Visa confirmation. Make sure the visa is valid and matches the information in your passport, as discrepancies or expired visas may prevent boarding.

    5. Lebanon

    One Nigerian Naira currently exchanges for 59.80 Lebanese Pounds. Nigerian travelers are required to secure a visa before arriving in Lebanon. You’ll need a passport valid for at least six months beyond your intended stay, as well as proof of onward travel. In addition to the standard visa application process, Nigerian citizens may also opt for a Visa on Arrival. This option requires a reservation at a 3 to 5-star hotel and a minimum of US$ 2,000 in cash. Be sure to confirm all details with the Lebanese embassy before finalizing your travel plans.

  • Indonesian envoy make case for bilateral relations

    Indonesian envoy make case for bilateral relations

    Indonesian Ambassador to Nigeria and ECOWAS, Dr Usra Harahap, has said deepening bilateral relations between both countries to attract Foreign Direct Investment (FDI) is critical to engendering their future economic growth.

    According to the ambassador, it is for this reason that he explored numerous investment opportunities for both Nigerian and Indonesian businessmen for the past five years and nine months.

    Harahap said he made specific efforts to encourage Indonesian businessmen to invest in Nigeria, and vice versa, with significant achievements in this regard.

    He affirmed that such investments include agricultural inputs, coal-based fertiliser, manufacturing, bilateral trading deals, artificial insemination of livestock, fishery technology programmes, cultural relations, education, and technology transfer.

    The envoy disclosed that the bilateral trade between Nigeria and Indonesia recently witnessed an impressive growth of about 80 per cent, that is, about $4 billion in volume.

    “Investment opportunities will help towards promoting the future of Nigeria-Indonesia relations.

    “Indonesia and Nigeria must set an even higher ambition in our bilateral cooperation.

    “You know, we know, that not only me and not only Indonesia, but the whole world knows that Nigeria is a huge market,” he said.

    Amb. Harahap said that the Indonesian embassy and  government had taken some deliberate steps toward facilitating investment opportunities from businessmen across both sides.

    For instance, he said the Indonesian government decided to ease the visa process for Nigerian businessmen, who are interested in attending their annual Trade Expos.

     “We encourage the businessmen to come together, to visit each other, to have business meetings, and so on.

    Read Also: 70 Indonesian firms to explore trade, investment opportunities in Nigeria

    “So, during my tenure of duty, I’ve tried to encourage these by solving, especially the problem of visa.

    “Every time we have a big event in Indonesia, we encourage the Indonesian Immigration to make the visa easier because we present the ambassador as a guarantor,” he said.

    The ambassador said that he also encouraged business-to-business contact among the businessmen.

    “I opened my telephone number to call the businessmen who already know me. They come to me, and explain what they need to connect with Indonesian businessmen. I just facilitate. No problem.

    “I will just call Indonesia to tell them that somebody would like to do business with them. What do you have? What do you need? And what is your preparation for that?

    “And, finally, we just communicate by Zoom meeting. It’s our system. Every Zoom meeting, I already make a conclusion. Oh, this Zoom meeting is very fruitful and flourishing. Let’s start.

    “We also have the WhatsApp group chat. And after that is done, they try to communicate. Finally, one of them will visit Nigeria or the Nigerian will visit Indonesia for a factory visit,” he said.

    The Indonesian envoy added that, as a result of such deliberate efforts, more than 170 Nigerian entrepreneurs travelled to the Southeast Asia and Oceania region in 2024 to explore the huge investment opportunities available there.

  • Indonesian woman swallowed by giant python

    Indonesian woman swallowed by giant python

    A 45-year-old woman was killed by a five-metre python while returning from her garden in Indonesia‘s South Sulawesi province, local media reported on Saturday.

    The woman, a resident of Sidenreng Rappang district, had told her husband on Thursday she was going to sell chilies to a collector.

    Read Also: Inside Quidah’s temple of pythons

    When she failed to return, her husband and relatives initiated a search, village head Suardi Rosi said.

    The next morning, a python was discovered near the woman’s abandoned belongings, Rosi said.

    Villagers, accustomed to the presence of these formidable predators, killed the snake and cut it open, revealing the woman’s body inside, the village head said.

  • 70 Indonesian firms to explore trade, investment opportunities in Nigeria

    70 Indonesian firms to explore trade, investment opportunities in Nigeria

    Nigeria’s quest to drive Foreign Direct Investments (FDIs) and increase trade is set to receive a significant boost with about 70 Indonesian companies and prospective investors set to storm the country next month, to explore opportunities for increased investment, trade, and partnership between Nigeria and Indonesia.

    The visit of the 70 Indonesian companies to Nigeria is on the behest of the Nigerian Indonesian Chamber of Commerce and Industry (NICCI) in partnership with the Indonesian Embassy in Nigeria led by the Indonesian Ambassador to Nigeria, Amb. Dr. Usra Hendra Harahap.

    The delegation are billed to be in the country for the 3rd edition of the Nigerian-Indonesian Investment and Trade Forum (NIITF 2024) which holds in Abuja next month under the theme: ‘Indonesia Meets Nigeria: An opportunity for Expansion of Bilateral Investment and Trade.’

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    Speaking at a media parley at the weekend, NICCI President, Ishmael Balogun, said while in the country, the business delegation will be exploring opportunities in diverse sectors of the Nigerian economy such as agriculture, renewable energy, and power generation, among others.

    The NICCI boss reiterated that the Chamber’s vision is to promote bilateral trade and investment between Nigeria and Indonesia, noting that in achieving this vision, it positioned Nigeria as the number one investment destination in Africa. “Currently, Nigeria is Indonesia’s number one trading partner in the continent of Africa with trade balances of $4.7 billion as at 2022,” he said.

    Balogun said the board and management of NICCI is very intentional in the continuous promotion and engagement between the two countries either through trade forums, trade fairs, bilateral symposiums and deliberations that continues to create opportunities for interactions and negotiations that promotes bilateral trade and investment balances.

    He stated that both the inaugural and second edition of the NIITF were held in Jakarta, Indonesia, in October 2022 and 2023 respectively. However, this year’s edition, he explained, is holding in Abuja, Nigeria to enable the Indonesians experience “Nigeria in its full entirety.”

    The keynote address for this year’s NIITF is expected to be delivered by Nigeria’s President Bola Ahmed Tinubu.