Kehinde Ogunyale

Freelance Investigative and Data Journalist

CBN Spends N58.6bn To Print 2.5bn Naira Notes

The Central Bank of Nigeria has spent the sum of N58.618 billion to print 2.518 billion Naira notes, valued at  1. 063 trillion in 2020. This was contained in the bank’s 2020 Currency Report indicating a decrease in the bank’s expenditure on currency printing, which stood at N75. 523 billion, in 2019 and N64. 040 […]Read More

Contributory Pension Assets Rise To N12.9tn

Data obtained from the National Pension Commission has shown that the assets under the Contributory Pension Scheme rose by N120bn in August 2021. PenCom, in its latest unaudited report on pension funds industry portfolio said the assets rose from N12.78tn at the end of July to N12.9tn in August. PenCom also revealed that the total […]Read More

Customs Target N2tn Annual Revenue

The Nigeria Customs Services is proposing to generate N2 trillion this year. Of this amount expected to be made, the South-West geopolitical zone would generate N1.6 trillion. According to a report, the NCS generates about 80 percent of its annual revenue from Lagos, Ogun, Ondo and Oyo states. Data obtained by SHIPS and Ports from […]Read More

Nigeria Makes N2.33tn From PAYE In Three Years

According to data collated from the National Bureau of Statistics, the 36 states in Nigeria and the Federal Capital Territory have earned N2.33 trillion from Pay As You Earn in three years. PAYE is a form of personal income tax that refers to tax deducted directly from the wages and salaries of employees operating in […]Read More

Fuel Demand To Hit 17.3 Million MT By 2025

Nigeria’s demand for petroleum products is expected to grow from 15.1 million metric tonnes in 2020 to 17.3 million MT by 2025. The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari said this at the 15th OTL Africa Downstream Week 2021 in Lagos. “The country needs a refining capacity of about 1.52 […]Read More

$8.99 Billion Investment Announced For Q3′ 2021

The Nigerian Investment Promotion Commission has said it tracked $8.99 billion as investment announcements in the third quarter of 2021 (Q3 ’21). In this announcement, Lagos State accounted for 81 percent at $7.29 billion during the period. NIPC reported this on its website, adding that the investment announcements in Q3 ’21 was 130 per cent […]Read More

Nigeria’s Foreign Investments Cut To $875m

Nigeria’s Foreign Direct Investment has dropped to $875 million in the second quarter of this year–the lowest since 2016. This is not unconnected to the consistent insecurity threat, tough policies and other important factors that the country faced within the quarter. This was contained in a presentation by the Chairman, Presidential Advisory Committee on the […]Read More

Transport Fares Rise By 41% Across Nigerian Cities

The National Bureau of Statistics has said that the average transport fare paid by commuters across Nigeria rose by 40.56 percent between September 2020 and September 2021. The average transport fare paid by commuters in September 2020 was N309.73, while the same fare went for N435.36 in September, 2021. NBS revealed this in its Transport […]Read More

FG Bond Subscription Drops By 25%

In the month of October 2021, the Federal Government bond subscription dropped by 25 percent from N334.32bn in September to N250.71bn. According to the Debt Management Office, the Federal Government’s bonds worth N150bn for October, which were auctioned on October 20, with a settlement date of October 22, were oversubscribed by N100.71bn. The total subscription […]Read More

Piracy On Nigerian Waters Falls By 77%

The Nigerian Maritime Administration and Safety Agency has said the country has witnessed its lowest level of piracy since 1994, with piracy dropping by 77 percent. NIMASA disclosed this in a statement saying the decline was reported by the International Maritime Bureau. “The trend of reduction in piracy and armed robbery in Nigerian waters has […]Read More