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Monthly Import Bill Hit N2.28tn In Q1
According to a report by a management and financial consulting company, Nigeria’s monthly import bill hit a record of N2.28tn at the end of the first quarter of 2021. The report was presented by the Chief Consultant, B. Adedipe Associates Limited, Dr. Biodun Adedipe, during a forum organised with the theme ‘Nigerian banking sector in…
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Electronic Payments Surge To N126.39tn
In six months, Nigeria’s electronic payment transactions rose to N126.39 trillion via the two digital payment platforms. These platforms are the Nigeria Interbank Settlement System Instant Payment System and Point of Sales terminals. The two digital payment platforms driving electronic payments are the NIBSS Instant Payment System and Point of Sales terminals. According to the…
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‘42% Of Nigerians Are Corrupt’
According to a quantitative survey conducted by the Akin Fadeyi Foundation, about 42.4 percent of citizens believe that all Nigerians are corrupt. This report also published that 51 percent believe that all public officials are corrupt. The quantitative survey is part of a three-year project end-line report published by the foundation with support from MacArthur…
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Nigeria Gets N6bn From Mining Licences
The Nigerian Mining Cadastre Office, under the auspices of the Ministry of Mines and Steel Development, has generated N6.899 billion from 2019 to the first half of this year. The revenue was generated through mining licenses, from the applications for mineral titles and permits as well as applications for the transfer, renewal, modification, and relinquishment…
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ANALYSIS: COVID-19, Cholera Threaten Nigeria Health System
Nigeria’s health care system might be under pressure to intensify efforts as it battles the increasing cases of COVID-19 and Cholera outbreaks in some states. COVID-19 pandemic in Nigeria had entered its third wave after the recent upsurge in reported cases. Nigeria now has over 168,000 cases of the virus with over 164,000 discharged and…
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Foreign Investors’ Interest Declines By 27.5%
Nigeria received about $8.4bn investment announcements as of 4th March 2021, out of which $5.46bn were pledged by foreign investors. This was according to the Nigerian Investment Promotion Commission, in its ‘report of investment announcements in Nigeria (January – March 2021). NIPC noted that the remaining $2.08bn was promised by domestic investors. The sum pledged…
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2025: 40% Of Global Population Will Access 5G
In its Mobile Economy 2021, the GSMA Association has said two in five people around the world will live within the reach of a 5G network by 2025. The report said that with the launch of commercial 5G services in Latin America and sub-Saharan Africa over the last year, the technology was now available in…
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‘282 Million Africans Malnourished’
The United Nations in a report has said that the effect of the COVID-19 pandemic heightened global hunger in African countries. The UN noted that this global hunger accounted for 282 million malnourished people in the African continent. The report titled, ‘UN report: Pandemic year marked by spike in world hunger, Africa posting biggest jump,…
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Nigeria’s GDP Might Drop By 2030
The World Bank has said that Nigeria’s GDP may decline by $139 billion in 2030 on the back of a collapse in ecosystem services. The apex Institution in its latest report, “Economic Case for Nature”, said that the loss in GDP could cause a permanent reduction of the country’s potential productive economy. It added that…
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Inside Kaduna Insecurity: How Over 170 Students Were Kidnapped
With an estimated population of 7.7 million people, Kaduna state is one of the northern region states that battles increasing insecurity challenges in Nigeria. These insecurity challenges range from farmer-herder conflict, kidnapping school children for ransom, and criminal activities by militant groups – all of which have led to multiple deaths, displacement of residents, destruction…