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Nigeria Drops To 118th In World Happiest Countries Ranking
A publication of the United Nations Sustainable Development Solutions Network, powered by the Gallup World Poll has revealed that Nigeria ranks 118th out of 146 happiest countries globally. This is a decline by two spots from its position last year. The 2022 World Happiness Report is global survey data used to report how people evaluate…
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Nigeria Serviced Debt With N2.93tn In 2021
According to the data obtained from the DMO, findings showed that Nigeria spent N2.93 trillion on debt servicing payments in 2021. The Director-General, DMO, Patience Oniha, said the total public debt stock of Nigeria increased to N39.56tn in 2021. Between January and March 2021, Nigeria spent N612.71bn on domestic debt servicing, while it spent $1bn…
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Nigeria Borrowed N6.64tn In 2021
The Debt Management Office has said that the total public debt stock of Nigeria increased to N39.56tn in 2021 from N32.92tn in 2020. The Director-General, DMO, Patience Oniha, mentioned that the total debt includes new borrowings by the Federal Government and the sub-nationals. She also said that the amount helped in financing the budget deficit,…
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Nigeria’s Debt To Peak At N45tn In 2022
The Debt Management Office of Nigeria has predicted that the total debt stock of the country is likely to reach N45 trillion as the agency plans to borrow an additional N6.39tn to finance the 2022 budget deficit. According to a document, the Director-General, DMO, Patience Oniha, explained that the overall deficit in the 2022 budget…
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In Five Years, Prices Of Bread, Rice Increased
According to data obtained from the National Bureau of Statistics, the average prices of bread and rice in Nigeria have been recording significant increases in the past five years. A year-on-year analysis of the average prices from January 2017 to January 2022 based on data from the NBS shows that bread (unsliced, 500g) and rice…
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Solid Minerals Revenue Rises By 54%
The Nigerian Extractive Industries Transparency Initiative has said That revenue from the solid minerals sector to the Federation Account rose by 54 percent in 2020 to N128 billion compared to N75 billion recorded in 2019. This was disclosed in an audit report of the mining sector. NEITI in a statement by its Head, Communications &…
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Nigeria’s Inflation Rate Increases To 15.7% In February
The Consumer Price Index rose to 15.7 per cent in February from 15.6 percent in January 2022. This is according to the latest figures from the National Bureau of Statistics. The NBS disclosed this in its ‘Consumer Price Index February 2022’ report. According to the NBS, the highest increases were recorded in prices of gas,…
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Nigerian Passport Ranks 98th Out Of 199 Countries
According to the ranking released by Henley & Partners, the Nigerian passport ranked 98th out of 199 countries. This is below those of other African countries such as Malawi, Niger, Chad, Zimbabwe, Uganda and The Gambia. The report was released by Henley & Partners, a London-based global citizenship and residence advisory firm, which publishes its…
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Merchandise Trade Deficit Rises By 171% in 2021
The National Bureau of Statistics had said the country’s merchandise trade deficit rose year-on-year to N1.93 trillion. This is an increase by 171 percent from N711.24 billion in 2020. NBS also said that total merchandise trade stood at N39.7 trillion in 2021, rising YoY by 57.5 percent from N25.2 trillion in 2020. The bureau disclosed…
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2,119 Mining Companies Owe N2.76bn Service Fees
According to the Nigeria Extractive Industries Transparency Initiative, 2,119 companies operating in the country’s solid minerals industry were indebted to the federation to the tune of over N2.76billion. NEITI disclosed this in its latest report of the mining sector for the year 2020, noting that Nigeria earned N624.45bn from the industry in 13 years. The…