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Nigeria Records N817.35b Trade In Agric products
The Federal Government has recorded N817.35 billion trade in agricultural goods in the second quarter 2021. A document, which was obtained from the National Bureau of Statistics Foreign Trade Statistics — Q2 2021, said there was N165.27 billion from export of agricultural goods while the import component of the trade N652.08 billion. On its agricultural…
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Five Banks Pay N1.6bn For Forex Infractions, Other Penalties
In the first half of the year, five banks in Nigeria paid a total of N1.4 billion as penalties to financial regulatory bodies such as the Central Bank of Nigeria, Security Exchange Council and Financial Reporting Council of Nigeria. The banks include UBA , Fidelity Bank, Access Bank, GTBank and First City Monument Bank. This…
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62% Of Enterprises Use Mobile Banking
The National Bureau of Statistics has said, in its report titled ‘The impact of COVID-19 on business enterprises in Nigeria’, that 62 percent of enterprises use mobile banking for their business operations. The report said, “While 90 percent of enterprises use phones in their daily operations, the level of adoption of other forms of technology…
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Twentyten Daily Weekly Round Up
Hello Twentyten Daily Readers Below is a roundup of last week’s stories, we reported how between March and August, Nigeria received a total of 9,916,320 doses of Covid-19 vaccines. Within this period, Nigeria received four types of vaccine; Oxford-AstraZeneca, Mordena Vaccine, Johnson and Johnson and Covishield COVID-19 Vaccine. A total of 5,338,640 doses of Oxford-AstraZeneca…
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Insurance Sector Records 16.41% Growth In Q2
The National Bureau of Statistics has said the insurance sector grew by 16.41 percent in the second quarter of the 2021. According to the second quarter performance for the finance and insurance sector, the figures, the insurance sector which contracted by 2.08 percent in Q1, 2021; 12.05 per cent in Q4, 2020; 16.54 percent in…
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Daily Fuel Consumption Jumps To 72 million litres
In the month of May, petrol consumption in the country jumped from 55.59 million litres a day in April to 72.07 million litres per day. This means that within the period, the country’s daily consumption of petrol increased by 29.65 per cent between April and May. Data obtained from the Nigerian National Petroleum Corporation monthly…
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20% Full-Time Workers Lost Their Jobs In 2020
A report has revealed that twenty percent of the full-time workforce in Nigeria lost employment during the effect COVID-19 pandemic in 2020. This was revealed in a report titled: “The Impact of COVID-19 on Business Enterprises in Nigeria”, released on Tuesday by the United Nations Development Programme (UNDP) and the National Bureau of Statistics…
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Nigeria Recorded N150.36bn Fiscal Deficit In April
According to figures obtained from the Central Bank of Nigeria’s April report on ‘Fiscal operations of the Federal Government, Nigeria recorded a fiscal deficit of N150.36 billion in April 2021. This is coming after aggregate expenditure of N559.67 billion and retained revenue of N409.31 billion was recorded. Part of the report read “Federation revenue rose…
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Seven Banks Paid N231.99bn As Salaries In 2020
After analyzing data banks 2020 annual reports, a total of eight Nigerian banks paid N231.99 billion in wages and salaries in 2020. This is N1.92 billion less than what they paid in 2019. Of the banks under review Zenith Bank paid the highest in wages in 2020 (N52.49bn) while Wema bank paid the least in…
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NNPC Earns $219.75m From Crude Oil, Gas In May
The Nigerian National Petroleum Corporation has said it recorded a total of $219.75 million from crude oil and gas export sales in May 2021. This represents a 180.29 percent increase in sales from April 2021. This is contained in the May 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR), according to a…