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Nigeria Made N374.8bn From Gas Sale In 2021
Reports obtained from the Nigerian National Petroleum Company Limited showed that Nigeria made about N361.43 billion from gas export and N13.36bn from domestic gas sale in 2021. The data from the oil firm showed that the Federal Government through NNPC garnered the funds from the sale of Natural Gas Liquids/Liquefied Petroleum Gas, as well as…
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Inflation Hits 15.92% In March 2022
Latest figures from the National Bureau of Statistics showed that Nigeria’s Consumer Price Index rose to 15.92 percent in March 2022. This new rate is the highest the country has recorded since November 2021 with an inflation rate of 15.99 percent. The NBS in its “CPI report for March 2022” revealed that Nigeria’s inflation fell…
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In 2020, 477,405 Complaints Were Unresolved In Four Banks
Within a period of one year spanning January 1 to December 31, 2020, four top banks in Nigeria recorded a total of 477,405 unresolved customer complaints. The banks are Zenith, Guaranty Trust Bank, United Bank for Africa and Access Bank. The figures were arrived at after analysing the 2020 annual financial reports of the banks.…
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Assets Of 882 Microfinance Banks Hit N1.35tn
According to a report by the Central Bank of Nigeria on ‘Microfinance Banks’ Account Assets’ quarterly, the total assets of Nigeria’s microfinance banks increased to N1.35 trillion by the end of September 2021. This is from N856.3 billion recorded in September 2020. Also, figures obtained from the CBN on ‘List of Licensed Microfinance Banks’ showed…
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External Reserves Loses $313m
According to figures obtained from the Central Bank of Nigeria, Nigeria’s external reserves fell by $313 million in March 2022. The CBN’s figures showed that the foreign exchange reserves, which commenced March 1, 2022, at $39.86billion, fell to $39.55billion as of March 30, 2022. Following the invasion of Ukraine by Russian forces, crude oil prices…
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Poor People In Sub-Saharan African Countries May Hit 463.6 Million
The World Bank has projected that the number of poor people in Sub-Saharan African countries can hit 463.6 million in 2022. This, the apex bank said, is due to the COVID-19 pandemic and the ongoing war in Ukraine. The projection was made through research by a group of World Bank economists, with the findings published…
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Nigeria’s imports rise by N12.11tn
According to the Central Bank of Nigeria and the National Bureau of Statistics data, between 2016 and 2021 Nigeria’s import bill rose from N8.73 trillion to N20.84 trillion. This means that within the five-year period, imports into the country rose by N12.11tn or 129.10 percent. The CBN data show that the nation’s imports have been…
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E-payments Rise By 45% In Two Months
According to data from the Nigeria Inter-Bank Settlement System portal, about N54.98 trillion was processed through Nigeria’s electronic channels in the first two months of 2022. This is a 45.49 percent increase from the corresponding period of 2021 when N37.79 trillion was processed through the nation’s electronic channels. The NIBSS tracks payment volumes and value…
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Nigeria Has Over 80,000 Refugees, 3.2 Million IDPs
The United Nations High Commissioner for Refugees has said over 80,000 refugees and 3.2 million internally displaced persons were in Nigeria and in dire need of help. It said most Nigerians were unaware that the country was hosting over 80,000 refugees, particularly in the southern states, as the bulk of the refugees were from Cameroon.…
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Air Passengers Grow By 34% In Africa
The International Air Transport Association says air travel in African countries grew by 34.7 percent in February 2022. The Geneva-based trade association representing over 230 international/global airlines said Africa posted a strong rebound in February 2022 compared to January 2022 while Omicron-related impacts moderated outside of Asia. However, it added that the war in Ukraine…