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Nigeria Made $34.22bn From Oil In 2019
The Nigeria Extractive Industries Transparency Initiative has said Nigeria earned $34.22bn from the oil and gas sector in 2019. It said this in its 2019 Oil and Gas Industry Audit report noting that the $34.22bn revenue represented an increase of 4.88 percent over the $32.63bn garnered from the sector in 2018. A breakdown of the…
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FG, States Owe N33.11trn Debt In Q1 2021
The National Bureau of Statistics has said the Federal and State governments owe a total sum of N33.11 trillion in public debts, as at March 31, 2021. NBS disclosed this in its “Nigerian domestic and foreign debt for Quarter one, 2021 (Q1 2021)”. It added that upon disaggregation, the nation’s total public debt indicated that…
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FAAC Shares N605bn In May 2021
A total sum of N605.958 billion has been shared by the three tiers of government as revenue from the federation accounts allocation committee in May 2021. In a statement, Charles Nwodo, spokesperson of the federal ministry of finance, budget and national planning, said the disbursed fund is lower by N11 billion when compared to the…
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COVID-19: Africa Loses $190bn In GDP
The President of the African Development Bank Group, Akinwumi Adesina, has said that the African economy lost over $190 billion due to the effect of the COVID-19 pandemic. Adesina, during the AfDB’s 2021 virtual Annual Meeting, added that the pandemic has forced 30 million people into extreme poverty with an estimation of 39 people going…
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Nigeria May Earn N462bn From EMT Levy
The World Bank has said, in its ‘Resilience through Reforms’ report, that Nigeria would likely make N462 billion from the electronic money transfer levy as a source of stable revenue in 2021. According to the report, the EMT levy was introduced in the Finance Act 2020, which amended the Stamp Duty Act and taps into…
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11 Police Officers On Relief Mission Killed In Burkina Faso
The government of Burkina Faso has condemned the attack of a police unit in the country’s conflict-hit north that has left at least 11 officers dead, with four others missing. In a statement released on Tuesday, Security Minister Ousseini Compaore said the officers were attacked while on a relief mission to Yirgou, a town that…
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Southern African Countries To Deploy Forces To Mozambique
On Wednesday, June 24, 2021, the Southern African Development Community (SADC) approved the deployment of a Standby Force in support of Mozambique to combat terrorism and acts of violent extremism in Cabo Delgado. The standby force is part of a regional defence pact that allows military intervention to prevent the spread of conflict. Attacks by…
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’13 Million Nigerians Risk Acute Food Insecurity’
The 2021 Global Report on Food Crises has stated that Nigeria is among six countries in Africa with the worst food crises and some 13 million Nigerians risk falling into acute food insecurity. The GRFC is prepared by 16 leading global and regional organisations belonging to the Global Network Against Food Crises. It is released…
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FG To Regulate Facebook, Instagram And Other OTTs
The Federal Government of Nigeria has revealed its new plan to regulate all Over The Top (OTT) and social media platforms assessable in the country. The Minister of Information and Culture, Lai Mohammed, disclosed this at the Federal Executive Council meeting presided over by President Muhammadu Buhari. According to the minister, Twitter and other social…
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Lagos-Ibadan Railway To Generate N1.1bn Annually
An analysis by the Nigeria Railway Cooperation has said that the Federal Government will be raking in about N1.1bn yearly from the operations of the newly launched Lagos-Ibadan standard gauge railways. The Nigerian Railway Corporation currently operates two trains on the route, and each of them makes one return trip; a sum of four trips…