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2021 Week 15: Covid-19 Cases Consecutively Drops
The total cases of COVID-19 recorded in the fifteenth week of 2021 have dropped to 499 against the over 600 cases recorded in the previous week. On average, Nigeria had 71.3 cases reported daily in the fifteenth week. According to the Nigeria Centre for Disease Control, Nigeria reported 71 cases of COVID-19 on Friday, 9th of…
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2021 Week 14: Covid-19 Cases Drop Below 600
Nigeria, in the fourteen week of 2021, recorded a total of 584 cases of COVID-19. On average, the country had over 83.4 daily records of cases between April 2nd and April 8th, 2021. According to Nigerian Center for Disease Control, the country had recorded a total number of 66 on Friday, 2nd of April. This,…
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OPEC: Nigeria, Others Reduce Oil Production By 2.6 Billion Barrels
In the Declaration of Corporation by member and non-member nations of the Organisation of Petroleum Exporting Countries, Nigeria and other participating countries have so far reduced crude oil production by 2.6 billion barrels. OPEC announced that, in order to balance the global oil market, the participating countries contributed in cutting down this volume of oil…
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External Reserves Losses $178m In March
The Central Bank of Nigeria has revealed that the country’s foreign reserves has lost $178m as at the end of March 2021. The reserves which stood at $34.99bn as of the end of March 1, dropped to $34.82bn as of the end of March 31 2021. In February, the reserves fell from $36.19bn as of…
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FEC Approves $26m For Power Projects In Borno, Yobe, Adamawa
The Federal Executive Council has approved about 26million dollars for various power projects in Borno, Yobe and Adamawa states. Minister of Power, Sale Mamman, made this known at the end of the Council meeting, presided over by Vice-President Yemi Osinbajo. He said the $1.62million of the approved amount was the payment of the claims and…
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Lagos, Ebonyi and Niger Paid More To Get Petrol In March
The National Bureau of Statistics (NBS) has reported that residents of Lagos, Ebonyi, and Niger states paid the highest amount for Premium Motor Spirit, popularly known as petrol in March 2021. The NBS said this in its “Premium Motor Spirit (Petrol) Price Watch for March 2021’’. According to the report, Lagos residents paid N200.87, Ebonyi…
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Mass Metering: CBN Releases N33.4b To DisCos
The Central Bank of Nigeria has so far released N33.2 billion to electricity Distribution Companies in the country, Nigerian Electricity Regulatory Commission. This is a fraction out of the N59.2 billion earmarked for the National Mass Metering Project by the Federal Government. NERC Chairman, Engr Sanusi Garba, spoke during an interactive session between the Senate…
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NNPC Records 80.12% Trading Surplus In December 2020
The Nigerian National Petroleum Corporation said it recorded an increase of ₦24.19billion trading surplus in December 2020. The amount is an 80.12 percent increase compared to the ₦13.43billion surplus recorded in November of the same year. Trading surplus or trading deficit is derived after deduction of the expenditure profile from the revenue in the period…
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DisCos Record N273.42 Billion Shortfall In 2020
The 11 Electricity Distribution Companies across Nigeria have recorded a shortfall of N273.42 billion in 2020. The companies cumulatively received a total of N542.73 billion out of N816. 15 billion they billed their consumers. This, however, is an increase of N42.46 billion from the total of N230.96 billion shortfall recorded in 2019. Also, the amount…
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Nigeria Debt Hit N32.9 Trillion
Nigeria’s total public debt portfolio as at December 31, 2020, stood at N32.92 trillion. The National Bureau of Statistics, revealed this in its Nigerian Domestic and Foreign Debt report for Quarter Four, 2020. According to the bureau, Nigeria’s total public debt showed that N12.71 trillion or 38.60 per cent of the debt was external, while…