-
Nigeria, Others Account For 65% Global Gas Flaring
The World Bank has said Nigeria and six other countries were responsible for two-thirds of global gas flaring. It said this in a statement titled ‘Seven countries account for two-thirds of global gas flaring’. According to the World Bank, “Gas flaring satellite data from 2020 reveals that Russia, Iraq, Iran, the United States, Algeria, Venezuela…
-
Report: World To Spend $157 billion On COVID-19 Vaccines Through 2025
The total spending on COVID-19 vaccines globally is projected to reach $157 billion by 2025. This is driven by a mass vaccination program underway and “booster shots” expected every two years, according to a report from Reuters by U.S. health data company IQVIA Holdings Inc . IQVIA, which provides data and analytics for the healthcare…
-
Average Transport Fare Increased In March
The National Bureau of Statistics has published that in its Transport Fare Watch for March 2021, an average Nigerian paid more fare for transportation. NBS report covers the following categories namely bus journey within the city per drop constant route; bus journey intercity, state route, charge per person; air fare charge for specified routes single…
-
NERC: Gencos Recieved N81.14bn Payment Assurance In 2020
The Nigerian Electricity Regulatory Commission has said power generation companies received N81.14bn as payment assurance from the Nigeria Electricity Bulk Trading Plc in 2020. NERC disclosed this in its latest Key Operational and Financial Data of the Nigerian Electricity Supply Industry: 2019-2020. NBET disburses payment assurance to power generators to enable the Gencos to meet…
-
2021 Week 16: Covid-19 Cases Gradually increase
The number of COVID-19 cases recorded in the fifteenth week of 2021 totalled 553. This is a drop from over 499 and 600 cases recorded in week 15 and week 14 consecutively. The average number of cases recorded per day is 79. At the beginning of the week, 67 cases were recorded on Friday. This…
-
MFBs Grew Loan To N547bn In 2020
The National Bureau of Statistics has reported that Microfinance Banks in Nigeria recorded an 82 percent boost in lending in 2020. This is rising from N300.2 billion lending in 2019 to N546.6bn. According to NBS, microfinance loans to the private sector was N250bn in 2018, but has doubled in two years. The report attributed this…
-
FG, States, LGs Share N681.33bn In March
The Federation Accounts Allocation Committee has shared a total of N681.33bn as March 2021 federation revenue to the federal, states and local governments including all relevant agencies in the country. During this month a sum of N154bn was transferred to the non-oil revenue savings and the balance in the Excess Crude Account was $72.413m. These…
-
E-payment Transactions Rise By Over 300% In 2020
The value of electronic payment transitions rose to N704.04 trillion at the end of 2020. This is a year-on-year increase of 325 percent from N165.8 trillion in 2019. Also, the volume of e-payment transactions rose YoY by 142 percent to 7.16 billion in 2020 from 2.96 billion in 2019. Analysis of data from the National…
-
Oil Import Fell To $1.32bn In 2020
The latest data from the Central Bank of Nigeria have shown that the quantity of foreign exchange used for oil imports in 2020 was $1.32bn, compared to $2.10bn in 2019. The CBN’s data on sectoral utilisation for transactions valid for forex revealed that $148.32m was utilised in January for oil imports; $145.23m in February, and…
-
Nigeria Spends N568.5bn Annually On Electricity Shortfalls
The World Bank has said the Federal Government of Nigeria is spending $1.5bn (N568.5bn at N379/$ exchange rate) annually to fund electricity tariff shortfalls, the World Bank has said. According to the global financial institution, this amount is speculated to increase if the country fails to take the right action. The bank also disclosed that…