-
Manufacturing Sector Records N12.2tn In 6 Months
According to the National Bureau of Statistics, the manufacturing sector recorded a total output of N12.2tn in the first half of the year. Data obtained from the Gross Domestic Product report show that aggregate manufacturing output in the first and second quarters stood at N6.1tn each. The total output of N12.2tn for H1 2021 represents…
-
NNPC Incurs N756.99bn Petrol Subsidy In 7 Months
The Nigerian National Petroleum Corporation has incurred N756.99billion petrol subsidy costs from January to July in 2021. This is according to the latest data obtained from the corporation. The subsidy, which the NNPC prefers to call ‘value shortfall’ or ‘under-recovery’, resurfaced in January this year as the government left the pump price of petrol unchanged…
-
Twentyten Daily Weekly Round Up
Hello Twentyten Daily Readers, Below is a roundup of last week stories, we reported how Africa’s economy, like the rest of the world, continues to face prolonged depression due to the breakdown in much-needed commerce as a result of the ongoing Covid-19 pandemic. Some countries have devalued their currencies in order to foster economic growth, but…
-
Gunmen Attack Nigerian Defense Academy, Kill Two Officers
Suspected terrorists have attacked the Nigerian Defense Academy (NDA) in Kaduna State, killing two officers and kidnapping one in the most brazen attacks on the country’s defence arm since the beginning of the year. The high-security base located just outside the state capital Kaduna trains Nigerian officers and also cadets from other African militaries. According…
-
At Least 16 Soldiers Die In Latest Boko Haram Attack
Nearly 23 years of terrorizing Nigeria and its neighbouring countries, the Boko Haram group have struck again in Niger. According to Niger’s defence ministry, hundreds of Boko Haram fighters attacked a military post in southern Niger, killing 16 soldiers and wounding 9 more. About 50 Boko Haram attackers were killed in the resulting combat in…
-
Which Are The Strongest African Currencies?
Factors such as interest rates, economic policies and stability influence the strength of any currency according to financial experts. Currencies with relatively higher interest rates attract foreign investors, increasing demand and price, thereby making them more robust and tradable. In Africa, some currencies fall in this category. A country’s economic policies also help to keep…
-
Which Are The Weakest Currencies In Africa?
Africa’s economy like the rest of the world continues to face prolonged depression due to the breakdown in much-needed commerce as a result of the ongoing Covid-19 pandemic. Some countries have devalued their currencies in order to foster economic growth, but this has not done much good. A weakened currency gives rise to inflation and…
-
91% Of Revenue Spent On Debt Servicing
The Federal government spent N2.02 trillion on debt servicing in the first six months of this year. This represents 90.5 percent of the total revenue of N2.23 trillion generated by the federal government within the period. This was disclosed by the Technical Adviser to the Director General of the Budget Office, Alfred Okon while presenting…
-
Survey: Nigerians Believe In Religious Leaders Than Government
A survey by Africa Polling Institute has shown that Nigerians’ trust in religious and traditional leaders are more than the government and its administration. The survey also showed that “citizens have more trust in religious leaders (55%) and traditional leaders (44%); compared to the Buhari government (26%), the judicial system (26%), the National Assembly (22%)…
-
INFOGRAPHICS: How GDP Rose In Three Months
The National Bureau of Statistics in its GDP Report for the second quarter of 2021 published that Nigeria’s Gross Domestic Product grew by 5.01 percent in the three month. According to the report, the 5.01 percent marks three consecutive quarters of growth following the negative growth rates recorded in the second and third quarters of…