Kehinde Ogunyale

Freelance Investigative and Data Journalist

Nigeria Loses $6.91bn To FDI Decline

The National Bureau of Statistics has said foreign investments into Nigeria had declined by 81.46 percent ($6.91bn)  in the first quarter of 2022. This is a drop from $8.49billion in the first quarter of 2019 to $1.57billion in the corresponding quarter of 2022. The bureau disclosed this in its quarterly report on ‘Nigerian Capital Importation’. […]Read More

Nigeria’s Power Plants’ Capacity Drops By 70%

Industry statistics has shown that the combined generation capacity of Nigeria’s 26 power plants has dropped by 70 per cent. According to the latest data sourced from the Nigeria Industry Supply Industry, the capacity of the plants dropped from a total of 13,461 megawatts to 4,022MW as of when they were last tested in July […]Read More

Borrowing From Local Investors Rises 21% in H1’22

The Federal Government borrowed N4.2 trillion from local investors in the first half of the year , representing  21 per cent, year-on-year. This is an increase  from N3.89 trillion borrowed in the first half of 2021 (H1’21). The increased borrowing was driven by a 30 per cent increase in FGN Bond sales, 49 percent increase […]Read More

Nigeria’s Ship Financing Fund rises By 79%

The Cabotage Vessel Financing Fund has risen from $195m to $350m in 2022, representing 79.4 percent increase. The Minister of State for Transportation, Gbemisola Saraki, disclosed that the money in the CVFF account now stood at $350mn –  equivalent to N210bn. Recall that the Federal Government, in 2003, set up the CVFF to address the […]Read More

40% Nigerian Households Use Generators

A joint report put together by a research firm and a financial institution has shown over 40 percent of households in Nigeria own and use generators to meet their electricity requirements. According to the report it stated that the affected households spent about $14 billion annually to fuel their generators, as the power supply from […]Read More

2.2 Million North-East residents Are Displaced

The National Emergency Management Agency has said that a total of 2,200,357 Internally Displaced Persons amounting to 452,363 displaced households are now in the North-Eastern part of Nigeria. The agency stressed that the Boko Haram insurgency, communal clashes and natural disasters were the causes of the displacements. NEMA revealed this in its 2021 Annual Report, […]Read More

Bank Assets Rise By 21% 

Figures obtained from the Central Bank of Nigeria has shown that Nigerian banks’ total assets rose by N11.15 trillion in one year to N64.32 trillion as of the end of April. CBN said that the assets of the lending institutions had hit N53.17 trillion in the corresponding period of 2021. The 2022 numbers showed a […]Read More

Company Income Tax rises by 35.6%

Revenue generated from Company Income Tax has risen by 35.6 percent Year-on-Year to N532.48 billion in the first quarter ended March 2022 from N392.7 billion in the corresponding period of 2021. Breakdown of data from the National Bureau of Statistics also showed the figure rose by 53.1 percent Quarter-on-Quarter from the N347.8 billion generated in […]Read More