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Nigeria’s Public Debt Stock Increases To N42.84trn
The National Bureau of Statistics has said Nigeria’s public debt stock increased from N35.46 trillion (86.57 billion dollars) in the second quarter of 2021. This is an increase to N42.84 trillion (103.31 billion dollars) in the corresponding period in 2020. Public debt stock includes external and domestic debts. NBS said in its Nigerian Domestic and…
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Pension Funds Investment Rise By 43.9%
The Pension Fund Administrators (PFAs) interest in corporate debt securities rose by 43.9 percent Year-on-Year (YoY) in August, 2022. The PFAs committed N1.380 trillion at the end of August 2022 as against N960.58 billion in the corresponding period in 2021. The breakdown shows that the N1.380 trillion invested in the corporate securities represented 9.59 percent…
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Foreign Capital Inflow Up By 83%
Analysis of the Nigerian Capital Importation report for Q2’2022 has shown that foreign capital inflow into the production sector rose by 83 percent, Year-on-Year (Y-on-Y) to $457.66 million in the first half year ended June 2022 (H1’22). This is an increase from $245.22 million in the corresponding period in 2021. Analysis showed that the inflow…
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Food Prices Increased In September 2022
The National Bureau of Statistics has said that prices of selected food items in September 2022 increased. This was contained in the NBS Selected Food Prices Watch Report for September 2022. The report said that the average price of 1kg of Tomato on a year-on-year basis, increased by 30.06 per cent, from N342.25 recorded in…
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Discos Remit N291bn To CBN In Eight Months
Data obtained from the Nigerian Bulk Electricity Trading has shown that the eleven electricity distribution companies in Nigeria remitted a total of N291 billion to the Central Bank of Nigeria within the space of eight months. The data said that the Discos remitted N291 billion out of the N526 billion invoice for electricity that was…
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PMI Drops Marginally By 0.1 Points
Stanbic IBTC PMI report has shown that the Purchasing Managers Index, PMI, which gauges the level of activities in the real sector, has dropped marginally by 0.1 percent to 53.6 points in October 2022 from 53.7 in September. In the headline figure derived from the survey readings above 50.0 signal positive direction in business conditions…
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Banks’ Income Tax Rise By 35%
Nigerian banks have paid N75.4 billion as Company Income Tax (CIT) in the first half of the year, (H1’22), representing a 35 per cent rise when compared to N55.67 billion paid in H1’21. Meanwhile, the Federal Government tax revenue rose by 31 percent to N2.44 trillion in H1’22 from N1.86 trillion in H1’21. The banks…
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Electricity Consumers Pay N210bn In Q4 2021
The Nigerian Electricity Regulatory Commission has said that power consumers paid a total of N210.17bn to distribution companies in the fourth quarter of last year. In its Quarterly Report for Fourth Quarter 202, NERC noted that the N210.17bn represented 9.34 percent of the total electricity bill given to consumers by electricity distribution companies during the…
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Rail Transport Revenue Rises By 42% In 6 Months
Data from the National Bureau of Statistics showed that rail transport revenue grew year-on-year (YoY) by 42 percent to N2.93 trillion in the first six months of this year (January to June). This is from N2.07 trillion in the corresponding period of 2021. In NBS Rail Transportation data for the second quarter of this year,…
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In Nine Months, Telcos Register 16 Million Subscribers
According to data from the Nigerian Communications Commission, telecommunication companies have registered 16.72 million subscribers in the first nine months of the year. This brings the total number of active GSM lines in the nation to 211.85 million subscribers. The growth in the nation’s total number of subscribers has been sustained above the 200 million…