Economy
Solar Fridges to Arrive Nigeria Soon

By Dipo Olowookere
Leading British solar refrigeration manufacturer and renewable energy specialist, Dulas, is in the process of delivering over 300 of its VC150SDD solar refrigerators to Nigeria. These World Health Organization (WHO) accredited refrigerators will be used to safely store vaccines in Yobe, Bauchi and Kaduna states.
The VC150SDD is an advanced Solar Direct Drive refrigerator and, like all Dulas’ Solar Direct Drive (SDD) products, uses Freeze-Free technology to ensure that vaccines are never exposed to harmful freezing temperatures. It also includes a water pack freezer for vaccine outreach services.
The governments of Yobe, Bauchi and Kaduna states are committed to strengthening their vaccine storage infrastructure recognizing this as integral to vaccine stability and potency.
Implementing this strategy through the state level Primary Health Care Management Boards serves to improve the provision of vaccines and contributes to a reduction of the incidence of childhood sickness and death, in line with the Millennium Development Goals set out by the UN in 2000 and continued through their latest Sustainable Development Goals.
With the WHO aiming to achieve 90% immunisation coverage in each of its target countries by 2020, reliable storage of vaccines at the correct temperature is of crucial importance. This year Nigeria launched a polio vaccine drive targeting millions of children in its northern states, such as Bauchi and Yobe, which will benefit from these latest deliveries of Dulas refrigerators.
This vaccine drive followed a polio outbreak in Borno state, the first outbreak in the country in over two years.
Although the WHO believe that they will soon be able to rid Nigeria of polio, immunisation programs can often be hindered by storage issues. This is most often the case in more remote areas with only sporadic access to the national grid. In the absence of a reliable source of electricity, temperature-sensitive vaccines will spoil and go to waste.
In response to this, Dulas first pioneered solar vaccine refrigerators in 1982 and continue to use their many years of experience to produce sophisticated and reliable products.
Their SDD refrigerators are equipped with Freeze-Free technology, using a combination of advanced phase change materials and multiple temperature sensors to completely remove the risk of vaccines freezing – eliminating a source of vaccine wastage second only to power failures.
The solar-powered refrigerators use an advanced non-corrosive phase change material for the energy store, which cannot be damaged by over-charging or discharging, thereby ensuring there is no need to replace it.
Combined with Dulas’ intelligent variable speed controller, this extends the usability of SDD fridges and makes them more resilient in low-sun conditions.
Catherine McLennan, Account Manager at Dulas, said: “Reliable storage is essential to ensuring that vaccines are effective. Our Solar Direct Drive refrigerators use advanced technology, developed by Dulas over many years, to provide storage that exceeds WHO requirements and allows even rural health facilities to safely and consistently administer vaccination programs.”
In addition to developing and producing the necessary technology, Dulas’ experienced logistics team is committed to ensuring that the refrigerators arrive on time and in perfect condition.
Along with a trusted network of freight forwarders, Dulas can distribute their British-manufactured products from the company’s base in Wales anywhere in the world.
Thanks to this network, the orders for Yobe and Bauchi states, for 85 and 80 refrigerators respectively, have been dispatched to Nigeria’s TinCan Sea Port, with the third order of 144 refrigerators for Kaduna state expected to be finalised shortly, and the potential for more orders to Nigeria in the future.
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Economy
BNB Price Reflects Changing Dynamics in the Digital Asset Market
Economy
NASD Unlisted Security Index Crosses 4,000-point Benchmark Again
By Adedapo Adesanya
The NASD Over-the-Counter (OTC) Securities Exchange achieved a milestone on Friday, April 24, 2026, after five securities on the platform helped with a 1.85 per cent growth.
Data showed that the NASD Unlisted Security Index (NSI) again crossed the 4,000-point benchmark yesterday.
The index chalked up 73.64 points during the trading day to close at 4,052.59 points compared with the preceding session’s 3,978.95 points, while the market capitalisation added N5.38 billion to finish at N2.424 trillion versus Thursday’s closing value of N2.380 trillion.
The price gainers were led by Okitipupa Plc, which grew by N25.00 to sell at N305.00 per share compared with the previous price of N280.00 per share. Central Securities Clearing System (CSCS) Plc gained N6.92 to close at N76.26 per unit versus N69.34 per unit, Afriland Properties Plc appreciated by N1.00 to N17.00 per share from N18.00 per share, FrieslandCampina Wamco Nigeria Plc improved by 55 Kobo to N99.55 per unit from N99.00 per unit, and Food Concepts Plc increased by 5 Kobo to N2.70 per share from N2.65 per share.
However, there was a price loser, MRS Oil, which dipped by N21.75 to N195.75 per unit from N217.50 per unit.
During the final session of the week, the value of securities jumped 75.2 per cent to N41.3 million from N23.6 million units, and the number of deals expanded by 62.9 per cent to 44 deals from 27 deals, while the volume of securities declined marginally by 0.9 per cent to 447,403 units from 451,522 units.
At the close of trades, Great Nigeria Insurance (GNI) Plc was the most traded stock by volume (year-to-date) with 3.4 billion units worth N8.4 billion, trailed by Resourcery Plc with 1.1 billion units valued at N415.7 million, and Infrastructure Guarantee Credit Plc with 400 million units traded for N1.2 billion.
GNI was also the most active stock by value (year-to-date) with 3.4 billion units sold for N8.4 billion, followed by CSCS Plc with 59.6 million units transacted for N4.0 billion, and Okitipupa Plc with 27.8 million units exchanged for N1.9 billion.
Economy
Naira Slips to N1,358/$1 as FX Reserves, Policy Uncertainty Concerns
By Adedapo Adesanya
It was not a good day for the Nigerian Naira in the currency market on Friday, April 24, as its value depreciated against the major foreign currencies at the close of transactions.
In the Nigerian Autonomous Foreign Exchange Market (NAFEX), it lost N4.53 or 0.33 per cent against the United States Dollar yesterday to trade at N1,358.44/$1, in contrast to the N1,353.91/$1 it was exchanged on Thursday.
Equally, the domestic currency slipped against the Pound Sterling in the official market during the session by N8.14 to close at N1,834.02/£1, compared with the previous rate of N1,825.88/£1 and dropped N8.01 against the Euro to sell at N1,590.73/€1 versus N1,582.72/€1.
Also, the Naira depreciated against the US Dollar at the GTBank FX desk on Friday by N4 to quote at N1,370/$1 compared with the previous session’s N1,366/$1, and at the parallel market, it depleted by N5 to settle at N1,380/$1 versus the preceding day’s N1,375/$1.
Data published by the Central Bank of Nigeria (CBN) indicated that NFEM interbank turnover surged to N43.562 million across 68 deals, up from N28.117 million the previous day.
Despite the CBN’s reassurance that the recent drop in external reserves is not worrisome, the market remains unsettled by persistent concerns over liquidity constraints, policy transparency, and weakening confidence in Nigeria’s FX market as gross reserves continue to decline to $48.4 billion.
The outlook for the Dollar appears supported by broader macro risks, including elevated oil prices tied to the tanker traffic disruptions in the Strait of Hormuz and a continued US-Iran standoff over ceasefire negotiations.
A look at the digital currency market showed that investors are sitting on the edge as the US Dollar rebounded amid geopolitical and inflation risks despite continued inflows into US spot bitcoin Exchange Traded Funds (ETFs).
Solana (SOL) rose by 1.2 per cent to sell $86.45, Cardano (ADA) appreciated by 1.1 per cent to $0.2517, Dogecoin (DOGE) grew by 0.9 per cent to $0.0989, Ripple (XRP) improved by 0.3 per cent to $1.43, Ethereum (ETH) soared by 0.2 per cent to $2,316.83, and Binance Coin (BNB) chalked up 0.1 per cent to sell for $637.44.
However, TRON (TRX) depreciated by 1.3 per cent to $0.3235, and Bitcoin (BTC) lost 0.2 per cent to close at $77,562.27, while the US Dollar Tether (USDT) and the US Dollar Coin (USDC) closed flat at $1.00 each.
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