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Nigeria Records 3.4% GDP Growth in 2021
Nigeria’s Gross Domestic Product grew by 3.98 per cent in the fourth quarter of 2021, the strongest growth since 2014. This was contained in the quarter GDP report released by the National Bureau of Statistics. The report showed that the fourth-quarter growth accounted for annual growth of 3.40% in 2021. Part of the report read,…
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Bank Loans To Private Sector Hit N36.7tn
According to data obtained from the Central Bank of Nigeria, between January and December 2021, the Nigerian banking sector’s credit to the private sector rose by N5.1tn or 16.67 percent. This was contained in the Money and Credit statistics released by the regulator showing that credit to the private sector stood at N30.6tn during the…
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Contributory Pension Assets Hit N13.42tn
National Pension Commission Pension has revealed that assets under the Contributory Pension Scheme rose by N1.11tn in 2021. According to the latest figures obtained from PenCom, in its unaudited reports on pension funds industry portfolio, said the pension assets rose to N13.42tn on December 31, 2021 from N12.31tn at the end of 2020. The reports…
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How FAAC Distributed N9.079tn In 2021
A compiled data of the Federation Account Allocation Committee disbursement has revealed that a total of N9.079 trillion was shared by all three tiers of government in 2021. According to the National Bureau of Statistics, the distribution was made to the Federal Government, States’ government and Local governments from revenue generated by agencies from tax,…
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How Insurgency Claimed Over 10,000 Lives In 2021
An analysis by Twentyten Daily has shown that a total of 10,366 individuals were killed by insurgency attacks or interventions in 2021. These figures indicated that at least 24 people died everyday owing to the constant insecurity threat facing the country. The figures, which were obtained from the compilation of media reported killings in 2021,…
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January Index: Inflation Crossed Average Five Times In 11yrs
An analysis by Twentyten Daily has shown that at the beginning of every year, between 2012 and 2022, Nigeria’s Inflation rate crossed an average of 12.43 percent five times. According to data collected from the National Bureau of Statistics report on Consumer Perception Index, that measures the monthly rate of inflation, in January for the…
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Nigeria Gross Debt To Hit N136tn In 2026
With the Debt Management Office put Nigeria’s public debt totaled N38tn as of the end September, 2021, the International Monetary Fund, the Federal Government’s gross debt profile is projected to grow by 92.11 percent from N70.85tn in 2022 to N136.11tn in 2026. The Washington based lender made this projection in a report titled ‘Nigeria Staff…
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Nigeria’s Inflation Rate Drops To 15.60% In January
The consumer price index, which measures inflation, dropped to 15.60 percent year-on-year in January 2022. This is 0.87 percent points lower than the rate recorded in the corresponding month in 2021 (16.47) percent and 0.03 percent recorded in December 2021. The National Bureau of Statistics which disclosed this in its Consumer Price Index report for…
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Nigeria Customs Generate N1.716tn Revenue In 2021
The Nigeria Customs Services has collected total revenue of N1.716tn for the period of January to December 2021. This was disclosed by the Controller-General of the NCS, Col. Hameed Ali (retd.), who led the management staff of the paramilitary agency to appear before the committee for 2021 budget appraisal and 2022 budget defence. The House…
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Insurance Companies Earned N2.7tn In Six Years
The National Insurance Commission has disclosed that insurance companies in Nigeria earned N630.36bn premium in 2021. The Head, Corporate Communications and Market Development,, Rassaq Salami, disclosed this in its unaudited result for 2021 saying that this was a rise from the audited figure of N514bn premium earned in 2020. NAICOM said the total asset of…