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‘27.4 Million Nigerians Earn Less Than N100,000 Per Annum’
The Socio-Economic Rights and Accountability Project has said that 27.4 million Nigerians earn below N100,000 per annum. It said the figure represented 48.9 percent of persons living in poverty in the country. It made the declarations at the launch of a report entitled: “The Ignored Pandemic: How Corruption in the Health, Education and Water Sectors…
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Nigeria’s Eurobonds Debts Rise By $9.37bn In 5 Years
The commercial loans obtained by Nigeria through Eurobonds have risen from $1.50 billion as of December 31, 2015 to $10.87 billion as of December 31, 2020. This indicates a $9.37 billion or 625 percent increase in five years. The debt stock remained at $1.5 billion from 2015 to 2016, but rose to $6 billion by…
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External Reserves Gain $500m In One Week
According to the latest data from the Central Bank of Nigeria, Nigeria’s external reserves rose by $500 million in one week to the highest point in more than two months. The reserves jumped from $33.43bn on August 23 to $33.93 billion on Monday– the highest since June 11. The CBN data showed that the reserves…
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Domestic Cargo Movement Drops By 15%
Data from the Federal Airports Authority of Nigeria have shown that the harmonized cargo movement in the country for the year 2020 has significantly dropped by 15 percent. This is following the restriction of movement of air passengers across the globe, hence an increase in air cargo demand globally for the year 2020. The data…
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Manufacturing Sector Records N12.2tn In 6 Months
According to the National Bureau of Statistics, the manufacturing sector recorded a total output of N12.2tn in the first half of the year. Data obtained from the Gross Domestic Product report show that aggregate manufacturing output in the first and second quarters stood at N6.1tn each. The total output of N12.2tn for H1 2021 represents…
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NNPC Incurs N756.99bn Petrol Subsidy In 7 Months
The Nigerian National Petroleum Corporation has incurred N756.99billion petrol subsidy costs from January to July in 2021. This is according to the latest data obtained from the corporation. The subsidy, which the NNPC prefers to call ‘value shortfall’ or ‘under-recovery’, resurfaced in January this year as the government left the pump price of petrol unchanged…
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Twentyten Daily Weekly Round Up
Hello Twentyten Daily Readers, Below is a roundup of last week stories, we reported how Africa’s economy, like the rest of the world, continues to face prolonged depression due to the breakdown in much-needed commerce as a result of the ongoing Covid-19 pandemic. Some countries have devalued their currencies in order to foster economic growth, but…
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91% Of Revenue Spent On Debt Servicing
The Federal government spent N2.02 trillion on debt servicing in the first six months of this year. This represents 90.5 percent of the total revenue of N2.23 trillion generated by the federal government within the period. This was disclosed by the Technical Adviser to the Director General of the Budget Office, Alfred Okon while presenting…
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Survey: Nigerians Believe In Religious Leaders Than Government
A survey by Africa Polling Institute has shown that Nigerians’ trust in religious and traditional leaders are more than the government and its administration. The survey also showed that “citizens have more trust in religious leaders (55%) and traditional leaders (44%); compared to the Buhari government (26%), the judicial system (26%), the National Assembly (22%)…
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INFOGRAPHICS: How GDP Rose In Three Months
The National Bureau of Statistics in its GDP Report for the second quarter of 2021 published that Nigeria’s Gross Domestic Product grew by 5.01 percent in the three month. According to the report, the 5.01 percent marks three consecutive quarters of growth following the negative growth rates recorded in the second and third quarters of…