Kehinde Ogunyale

Reporting on the data-driven economy, and investigations.

Nigeria’s Growth DropTo 2.25% In Q3’22

The National Bureau of Statistics has disclosed that Nigeria’s Gross Domestic Product, GDP,  fell quarter-on-quarter (QoQ) by 1.78 percentage points to 2.25 per cent in the third quarter of 2022 (Q3’22). This is a drop from the 3.54 per cent recorded in Q2’22. NBS said this in its Nigerian GDP report for Q3’22, citing the […]Read More

Nigeria’s Three Tier-government Share  N736.782bn In October

The Federation Account Allocation Committee, FAAC, has shared a total of N736.782bn to the three tiers of government as the allocation for the month of October 2022. According to the Ministry of Finance, Budget and National Planning’s statement, from this stated amount, inclusive of gross statutory revenue, value added tax, exchange gain and augmentation from […]Read More

Bitcoin Investment In Nigeria Rises By 5%

Despite the cryptocurrency losing $562.93bn of its market value in 2022, Nigerians’ investment in Bitcoin grew by over five per cent. The market cap of BTC has dropped from $875.94bn as of December 2021 to $313.01bn as of November 20, 2020. Also, prices have fallen from $46,306.45 to $16,291.83 within the time under review. However, […]Read More

Nigeria Ranks Seventh On OPEC Production List

According to the a Monthly Oil Market Report for November, Nigeria now ranks seventh on Organisation of the Petroleum Exporting Countries’ crude oil production list. Nigeria’s output was a mere 1.014 million barrels per day in October, ranking seventh after Saudi Arabia, United Arab Emirates, Kuwait, Iraq, Angola and Algeria. While Nigeria’s production was 1. […]Read More

Sticky

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… You must be registered to […]Read More

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 […]Read More

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 […]Read More

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 […]Read More

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 […]Read More