Hello, everyone!
I hope you had a great week. Well…have you ever lived in an apartment with a shared prepaid meter? I remember the day I moved into my first apartment in Lagos; my neighbours were arguing outside because the electricity had gone off and some people hadn't paid their share. I was in shock because I had literally just arrived.
A couple of months later, we got smart and came up with a plan for everyone to overpay a little so we could build up a reserve. Before I left, my neighbours would transfer the amount for their monthly electricity bills to Power Up, so we never had to wait for the electricity to trip or worry about defaulting on a payment.
We were also saving more money in the long run since we got cashback anytime we bought units and didn’t pay any transaction fees.
Get the Power Up App or use the web version and save money.
Now, Here Are Some Important Things You Need To Know This Week
Nigeria's Cheapest Unlimited Data Plans
We've got another money-saving tip for you. Are you constantly spending money on data?
With data being so expensive, using cheap unlimited data plans is a great way to save money and stop worrying about it every day. According to the NCC, here are the top seven cheapest unlimited plans:
Wifiber Broadband - ₦15,380
NGCOM – ₦15,500
Hoop Technologies – ₦15,500
Tizeti – ₦17,500
IPNX – ₦22,250
MTN - ₦25,000
AIRTEL - ₦30,000
By the way, you get cashback when you use the Power Up app to buy airtime and data.
The Naira's Performance Against the US Dollar
The value of the Naira recently experienced some shifts in the foreign exchange market. In the unofficial (parallel) market, the naira's rate held steady at ₦1,550 against the US dollar. Meanwhile, on the Nigerian Foreign Exchange Market (NFEM), the official rate saw a slight dip, closing at ₦1,536.99 to the dollar.
Did you know you can always track the naira-to-dollar exchange rate by installing a Power Up Widget on your iPhone?
Nigeria's Oil Production on the Rise
Nigeria's oil production saw a significant increase in July 2025, reaching an average of 1.71 million barrels per day. This figure is a combination of 1.507 million barrels of crude oil and 204,864 barrels of condensates.
This marks a 9.9% increase compared to July 2024, when the country produced 1.56 million barrels per day. The data was released in a statement by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Do you think this development will reduce the cost of crude oil in Nigeria?
That’s all from me this week. See you next week.💃
Cheers,
Vicky🩵