-
What Nigeria States Are Proposing For 2023
With almost 40 days into the new year, state governors are already setting the estimation for their financial expenditure. Being an electioneering year, some state governments might either hand over to a new government or transition into another tenure. However this turns out, the budget provides the expenses that the state would be allocating for…
-
Thousands Displaced In DRC As M23 Rebels Launch New Attacks
The M23 rebels have relaunched their war with the army of the Democratic Republic of Congo in the country’s volatile eastern region, leading to the displacement of thousands of people. According to reports from the army spokesman, Guillaume Ndjike, clashes picked up again in North Kivu province on Friday, ending about a week of relative…
-
Is The Ebola Outbreak A Threat To Uganda’s Tourism Sector?
On the 20th of September 2022, Uganda officially declared an Ebola outbreak, with the WHO reporting as many as 136 confirmed cases, consisting of 21 probable cases and 53 confirmed deaths This has resulted in some weariness by tourists travelling to the country. Travelling into the country has also been advised against by some countries,…
-
Gas Price Increases By 87% In One Year
The National Bureau of Statistics has said that the price of a 5-kilogramme cooking gas between 2021 and 2022 increased by 86.62 per cent This was contained in the NBS Cooking Gas Price Watch. “On a year-on-year basis, the September 2022 price of N4,474.48 for 5kg of gas was an 86.62 per cent increase over…
-
133 Million Nigerians Are Multidimensionally Poor
The National Bureau of Statistics has revealed that 63 per cent of persons living in Nigeria are multidimensionally poor. This is about 133 people of the over 200 million people living in the country. NBS highlighted this in its 2022 Multidimensional Poverty Index (MPI) Survey. According to the report, over half of the population of…
-
FIFA World Cup 2022: A Luxury Ship Docks On The Shores Of Dead Labourers In Qatar
Just in time for the FIFA World Cup that would be hosted in Qatar come November 21, 2022, an Italian cruise business has launched its newest luxury hotel cruise line. MSC World Europa is slated to be used as a hotel for fans at the Qatar World Cup from November 19 to December 19 and a single…
-
Banks’ Consumer Loans Decline By 17%
Following a decline in money supply triggered by the inflation-fighting measures of the Central Bank of Nigeria, banks reduced consumer loans by 17 per cent (N400 billion), in one month. This is the first time that consumer loans would drop in three years. Consumer loans are loans by banks to one or more individuals for…
-
Insurance Claims Payment Hits N174.8bn
The volume of gross claims paid out to insurance policyholders has recovered, hitting N174.8 billion in the first half of this year, H1’22. This is up by 7.7 percent against the N162.3 billion recorded in the preceding half, H2’21. This major indicator of soundness in the insurance sector had recorded a 6.9 percent decline from…
-
Nigeria’s Population Hits 216 million
Data from the United Nations Department of Economic and Social Affairs has said that Nigeria’s population has reached 216 million in 2022. This, according to the UN agency, accounts for 2.7 per cent of the global population. According to its latest World Population Prospects 2022 released to mark World Population Day, the global population has…
-
Nigerian Banks’ Assets Rise By N10tn
The latest figures from the Central Bank of Nigeria have revealed that the Nigerian banks’ assets gained N10 trillion between August 2021 and August 2022 to hit N66.76trillion. The CBN disclosed in the personal statement of a member of the Monetary Policy Committee, Kingsley Obiora, that the banking sector remained resilient amid economic challenges. It…