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Nigeria Recorded N150.36bn Fiscal Deficit In April
According to figures obtained from the Central Bank of Nigeria’s April report on ‘Fiscal operations of the Federal Government, Nigeria recorded a fiscal deficit of N150.36 billion in April 2021. This is coming after aggregate expenditure of N559.67 billion and retained revenue of N409.31 billion was recorded. Part of the report read “Federation revenue rose…
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Seven Banks Paid N231.99bn As Salaries In 2020
After analyzing data banks 2020 annual reports, a total of eight Nigerian banks paid N231.99 billion in wages and salaries in 2020. This is N1.92 billion less than what they paid in 2019. Of the banks under review Zenith Bank paid the highest in wages in 2020 (N52.49bn) while Wema bank paid the least in…
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NNPC Earns $219.75m From Crude Oil, Gas In May
The Nigerian National Petroleum Corporation has said it recorded a total of $219.75 million from crude oil and gas export sales in May 2021. This represents a 180.29 percent increase in sales from April 2021. This is contained in the May 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a…
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OPEC+ To Revive Oil Production As Prices Bounce Back
The OPEC coalition led by Saudi Arabia and Russia is expected to press on with the planned revival of oil production, as prices bounce back from their August downturn. The coalition is gradually restoring the vast amount of crude production halted during the pandemic, and will probably ratify the next monthly instalment when it gathers on…
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Petrol, Kerosene Prices Rose In August
Reports from the National Bureau of Statistics have revealed that the Premium Motor Spirit, Household Kerosene Price increased year-on-year in August. The Price Watch report for August 2021 by the NBS disclosed that the average price per litre paid by consumers for kerosene increased by 0.67 percent month-on-month and by 15.43 percent year-on-year to N400.01…
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Firms Consume 85,264.8MT Of Gas In August
The Petroleum Products Pricing Regulatory Agency has said that a total of 85,264.8 Metric Tonnes of Liquefied Petroleum Gas consumed in the country in August. This was stated in a statement signed by its Executive Secretary, Abdulkadir Saidu. Of the total 85,264.803 metric tonnes supplied nationwide, 38,040.457MT of the total volume supplied was sourced locally,…
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58 Companies pay N733b Dividend In 2021
No fewer than 58 organizations– including MTN Nigeria Communications Plc, Dangote Cement Plc, GTCO Plc– have paid their investors over N732.91 billion as dividends year-to-date. Dividends are a company’s way of sharing its profits with investors who retain the organisation’s stocks over a holding period up to a qualifying date. According to a statement released…
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Nigeria debt Stock Hits N2.36tn In 3 Months
The total public debt stock of Nigeria has risen from N33.11 trillion as of March 31, 2021 to N35.47.trillion as of June 30, 2021. This shows an increase of N2.36 trillion or 7.13 percent within three months This was disclosed by the Director General of the Debt Management Office, Patience Oniha, who provided a breakdown…
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Burundi Launches Free Covid-19 Testing For Students
The government of Burundi has begun a compulsory Covid-19 testing campaign for all pupils in boarding schools. This initiative will last until 14 September. One of these screening centres is in the Ntahangwa community, north of Bujumbura. Parents, teachers and pupils responded massively to the campaign as reports show that queues began to form in…
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Authorities Extend Telecoms Blackout In Zamfara State
New reports claim that the Nigerian security forces in Zamfara and neighbouring states have launched one of their largest operations against the armed gangs, known locally as bandits, hence an extension of the shutdown on all telecommunication services in the states. Last week, shocking reports hit the media space detailing a violent takeover of bandits…