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CBN Disburses N97.5bn Fund For Healthcare Intervention
The Central Bank of Nigeria said it has disbursed N97.4bn out of the N100bn credit intervention for the healthcare industry. It disclosed this in the communique issued after the Monetary Policy Committee meeting saying the intervention was introduced as part of its measures to cushion the impact of the coronavirus pandemic on the economy. “Under…
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Banks Credit To Economy Hits N23.53tn
Latest figures by the Central Bank of Nigeria has shown that Banks’ credit to the economy rose to N23.53tn as of the end of March 2021. CBN disclosed in its communiqué at the end of the Monetary Policy Committee that the figure rose from N22.68tn as of the end of 2020. Part of the report…
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Petrol Price Highest In Plateau, Kano, Abia In April
The National Bureau of Statistics has published that the highest average price of petrol in April 2021 was recorded in Plateau, Kano and Abia states. In its ‘Premium Motor Spirit (Petrol) Price Watch for April 2021’, the bureau gave the price per litre of the product as N178.14 in Plateau, N177 in Kano and N175.92…
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Q1: 12 Nigerian Banks Lend Customers N690bn
Data collected from an unaudited financial statement of a combined loan portfolio of 12 commercial banks in Nigeria has shown a rise by N690 billion in the first three months of this year. The loans and advances to their customers grew to N17.75 trillion as of March 31, 2021 from N17.06 trillion at the end…
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ANALYSIS: The Slow Rise To Recovery
Nigeria might be gradually taking steps towards achieving the 2021’s projection by the International Monetary Fund, as the latest figure on the Gross Domestic Product shows a slight increase by 0.15 percent within three months. The National Bureau of Statistics published that the GDP real terms growth is the second consecutive growth after the negative…
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Insecurity: Over 1,000 Killed In Nigeria In April
Insecurity: Over 1,000 Killed In Nigeria In April Following a compilation of data by the Council on Foreign Relations in the Nigeria Security Tracker, at least 1,032 people lost their lives to insecurity in the country last month. The tracker showed that across Nigeria there were at least 229 violent incidents between April 1 and…
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2021 Week 20: Covid-19 Cases Increase Further
Nigeria, in the twentieth week of 2021, recorded a total of 287 cases of COVID-19. On average, the country had over 41 daily records of cases between May 14th and May 20th, 2021. According to Nigerian Center for Disease Control, the country had recorded a total number of 49 cases on Friday, 14th of May.…
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Oil Industry Generates N23.8bn VAT In 3 Months
The oil and gas sector which comprises the upstream, midstream and downstream sub-sectors has generated N23.84bn in Value-Added-Tax for the Federal Government in the first quarter of 2021. The National Bureau of Statistics disclosed this in its latest report on Statistics’ Sectoral Distribution of VAT report for Q1 2021 saying the oil producing sector recorded…
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Food Imports Gulps $1.24bn In 6 Months
Food products imports gobbled up $1.24bn of the foreign exchange supplied by the Central Bank of Nigeria from October 2020 to March 2021. This is coming despite the ban directive from President Muhammadu Buhari to the CBN to stop issuing forex for food and fertiliser imports The foreign exchange used for the importation of food…
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32 MDAs Failed To Account For N1.2trn
The Fiscal Responsibility Commission has said over 30 ministries, departments and agencies of the Federal Government are withholding about N1.2trn. The commission said this is according to audit reports of some MDAs and unaudited accounts of others. The FRC also said MDAs have remitted operating surpluses of about N2.15tn since inception of the commission in…