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Lagos Has Highest Number Of Food-insecure People
A new data by the Federal Government in partnership with the Food and Agriculture Organisation of the United Nations, World Food Programme, Action Against Hunger, among others, has revealed that Lagos State has the highest number of food-insecure people in the country. The Food Security analysis report, otherwise called the Cadre Harmonise, which analysed 21…
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Trading In Fixed Income, Currency Markets Drop By 31.2%
A January 2022 report just released by the FMDQ Exchange has revealed that trading in the fixed income and currency (FIC) market has slumped back to 31.21 percent after the December 2021 uptick. The report said that Nigeria’s financial markets trading platform has put transaction volume at N14.13 trillion, down from N20.54 trillion recorded in…
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In Nine Months, NNPC, Refineries’ Post N123.64bn Deficit
Between January to September 2021, the Nigerian National Petroleum Company Limited has revealed that it posted, alongside three Nigerian refineries, a combined deficit of N123.64bn. The report, which was contained in the September 2021 report, indicated that while the cumulative deficits of the three refineries during the period was N46.52bn, NNPC posted a deficit of…
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Nigerians Spent $2.29 billion On Beer In 2019
A new report by Oxford Economics has shown that Nigerian consumers spent $2.29 billion (approximately N826.69billion) in 2019 on beer. The Study titled: “Beer’s Global Economic Footprint”, commissioned by World Brewery Alliance which assessed the beer sector across 70 countries, covering 89 percent of beer sold worldwide, by volume, revealed that Nigeria ranked 30th in…
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Nigeria To Pay IMF $3.51bn In Five Years
The International Monetary Fund is expected to receive from the Federal Government of Nigeria a total of $3.51bn between 2022 and 2026 to offset a $3.4bn loan. This is according to information obtained from a webpage on the IMF’s website, titled ‘Nigeria: Financial Position in the Fund as of January 31, 2022.’ Recall in April…
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Mutual Funds Transactions Drop By 12.2%
Volume of transactions in mutual funds, otherwise known as Collective Investment Scheme, dropped by 12.2 percent in 2021 with investors’ commitment in the asset class falling to N1.3 trillion from N1.49 trillion in the previous year, 2020. On a Year-to-Date basis, the investment in the asset class also fell by 12.8 percent from N1.49 trillion…
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Banks Cut Borrowing From CBN By 47%
Banks’ borrowing from the Central Bank of Nigeria has fallen for the second consecutive month in February, by 47 percent to N666 billion while banks increased the deposit by 80 percent to N489.05 billion in February. This driven by further improvement in the level of liquidity in the interbank system. In January, banks borrowing from…
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6,205 People Died By Road Crashes In 2021
Data from the National Bureau of Statistics have disclosed that no fewer than 6,205 persons died in road accidents in 2021. In its Road Transport Data reports, NBS said that on a quarterly basis, road accidents killed a total of 1,668 people in Q1 2021; 1,453 persons in Q2; 1,432 persons in Q3; and 1,652…
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Currency In Circulation Rose By N418bn In 2021
According to figures obtained from the Central Bank of Nigeria, the currency in circulation rose by N418bn from N2.91tn in December, 2020, to N3.33tn in December, 2021. The data showed that currency in circulation had increased by 19.06 percent from N2.44tn recorded as of December, 2019. Currency in circulation as currency outside the vaults of…
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Port Inspection Drops By 29.65%
The Nigerian Maritime Administration and Safety Agency has said that the total Ports State Inspection for the year 2020 was 510 out of 4,728 vessels that called at the nation’s ports in the year under review. This represents a 29.65 percent decrease when compared to 2019 which had a PSI of 726 vessels out of…