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Nigeria’s Data Usage Increase By 202.08%
According to data from the Nigerian Communications Commission, data usage in Nigeria surged by 202.08 percent in three years. This is following the subscriber/network report of 2018, 2019, and 2020. Data usage rose from 68,154.12 terabytes in 2018 to 125,149.86TB in 2019 and 205,880.4TB in 2020. The total national and local outgoing voice calls were…
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Nigeria’s GDP Grows By 5.01% In Q2
Nigeria’s Gross Domestic Product has grown by 5.01 percent, year-on-year, in the second quarter of 2021. This is according to the National Bureau of Statistics in its GDP Report for Q2. 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…
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INFOGRAPHICS: How Capital Importation Fell In Three Months
The National Bureau of Statistics reported that the total value of capital importation into Nigeria fell to $875.62 million in the second quarter of 2021. Between January to March of the same year, Nigeria had a capital importation of $1.91 billion. The bureau stated that this represented a decrease of 54.06 percent compared to Q1…
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Nigeria Entitled To $3.35bn In IMF Rights Allocation
The Managing Director of the International Monetary Fund, Ms Kristalina Georgieva, has said that the organisation has begun to allocate Special Drawing Rights of about $650 billion. This was contained in a press statement on the IMF website where she was quoted saying, “The largest allocation of Special Drawing Rights in history – about $650bn…
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Nigeria Tops Sub-Saharan Africa’s P2P Bitcoin Trade
According to data from UsefulTulips, Sub-Saharan Peer-to-Peer Bitcoin trading has surpassed that of North America. This makes the region the largest P2P market in the world. UsefulTulips analyses data from LocalBitcoins and Paxful trading platforms. In the last trading week, a total of $17,599,679 was traded in BTC volume from sub-Saharan Africa. For the North…
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FG To Borrow N4.89tn For 2022 Budget
To finance the deficit in the proposed N13.98 trillion 2022 budget, the Federal Government plans to borrow about N4.89 trillion from internal and external sources. The Minister of Finance, Budget and National Planning, Zainab Ahmed, made this known in Abuja on Monday at an interactive session organised by the House of Representatives’ Committee on Finance…
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South Africa, Namibia, Nigeria Top Global Unemployment Rates
According to a recent report published by Bloomberg, Nigeria has the third highest unemployment rate at 33.3 percent among a list of 82 countries. Nigeria comes behind South Africa which has the highest rate and Namibia. According to the report, South Africa’s unemployment rate rose to 34.4 percent in the second quarter from 32.6 percent.…
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‘Nigeria’s GDP To Grow By 2.6%’
Financial Derivatives Company Limited has said the Nigerian economy is expected to grow by 2.6 percent in the second quarter of 2021. Thai growth is up from 0.51 percent recorded in the first quarter. Analysts at Lagos-based FDC, led by an economic expert, Mr Bismarck Rewane, said the expansion of the GDP growth data coupled…
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Nigeria Flags-off Second Phase Vaccination Exercise
Nigeria has begun the second phase of its vaccination exercise against the Covid-19 virus. The exercise is coming at a time where the country has begun to record increasing cases of the virus in the last one month. Speaking at the flag-off ceremony held at the Federal Medical Centre (FMC), Jabi Abuja, the Secretary to…
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NPA Generates N163.5bn In 6 Months
Between January and June 2021, the revenue profile of the Nigerian Ports Authority has risen by about 54 percent. This is about N163.5 billion increase within six months. The authority’s General Manager of Finance, Emeka Ezugwu, said in Abuja at an interactive session on 2022-2024 Medium Term Expenditure Framework (MTEF) Ezugwu added that NPA’s revenue…