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Nigeria’s Gas Flare Falls By 0.33% In Q1 2021
Gas flare in Nigeria’s oil fields fell by 0.33 per cent to 45.33 billion cubic feet BCF, in the first quarter of 2021 compared to 45.48BCF of gas flared in the fourth quarter of last year, according to the latest data from the oil and gas industry. Data also showed that on a year-on-year basis,…
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16 Insurance Firms Pay N67.12bn Claims In Six Months
No fewer than sixteen insurance companies have a total claims of 36.48 percent increase in the first half of this year. This is an increase to N67.12 billion from N49.18billion in the same period of 2020. An analysis of data collated from an unaudited financial statement showed that they paid policy holders N67.12bn in claims…
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VAT Generation Hits N512.25b In Q2
The National Bureau of Statistics has said the Federal Inland Revenue Service (FIRS) generated N512.25 billion Value Added Tax (VAT) in the second quarter of 2021. This is higher than the revenue generation of N496.36billion in the first quarter of 2021 and N327.20 billion in the corresponding period of 2020. The sectoral distribution of Value…
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Global Air Passenger Revenue Drop To 69%
According to the latest data from the International Air Transport Association, the global total industry passenger revenues fell by 69 percent to $189billion in 2020. The revenues fell with accumulated net losses of $126.4billion. The industry statistics show that the number of passengers carried on scheduled services plunged by 65.7 percent, with Africa as the…
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FG Suspends Roll Out Of New Covid-19 Vaccines
The Federal government has postponed the rollout of COVID-19 Moderna vaccine doses received from the American government, according to a statement by The Presidential Steering Committee on COVID-19 (PSC). In May, the US pledged to share 80 million vaccines with countries around the world to aid the fight against coronavirus. Nigeria received 4 million doses…
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Manufacturing Sector Records N6.99tn Growth
The aggregate monetary value of the manufacturing sector’s output rose from N12.45 trillion to N19.44 trillion between December 2018 and December 2020. This showed an increase of N6.99trillion or 34.78 percent in total manufacturing output within the two-years period. The figures were obtained from the National Bureau of Statistics after analysing the Gross Domestic Product…
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Nigerians Consumed 1.67bn Litres Of Petrol In April
The Nigerian National Petroleum Corporation has said 1.67 billion litres of Premium Motor Spirit was consumed in April 2021. This is around 55.79 million litres daily consumption rate. NNPC stated this in the April 2021 NNPC Monthly Financial and Operations Report saying it recorded N43.57billion trading surplus. This represents a 23.64 percent increase over the…
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Can Ghanaians Now Travel Visa-Free To UAE? (Fact Check)
Contrary to the news making the rounds, only certain passport holders in Ghana can now travel to the United Arab Emirates (UAE) visa-free. The agreement which has not yet been implemented is designed to waive visa requirements for certain passport holders in Ghana and the UAE, allowing entry for a period not exceeding 90 days.…
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Nigeria Loses Over N150 Billion 2 Months After Twitter Ban
NetBlocks Cost of Shutdown Tool has been used to estimate the billion naira loss for the Nigerian economy 2 months after President Buhari’s administration banned the microblogging platform Twitter. According to the tool, Nigeria’s economy loses N102.7 million per hour to the Twitter ban. This translates to an N150.5 billion revenue loss within 61 days,…
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States’ Judicial Panel Submit #EndSARS Reports
In what was tagged to be a non-partisan solidarity demonstration against excessive abuse of authority, Nigeria youths in October 2020 championed a nationwide protest demanding the dissolution of the Special Anti-Robbery Squad (SARS) over its extra-judicial brutalities against the youth. Although the protest started in 2016 when Nigerian activists, youths and celebrities signed a petition…