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Nigeria Records 7 Cases of UK Variant Of COVID-19
Nigeria has reported seven cases of the new UK variant of COVID-19. The new variant has been identified in Osun, Kwara and Abuja. The Federal Government stated that the Africa Centre for Excellence in Genomics in Ede identified five cases in Osun, one in Kwara, and one in Abuja. However, of the three states, Abuja…
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Nigeria Records $5.1 Billion Portfolio Investments In Three Quarters
Nigeria’s portfolio Investments between January to September 2020 totalled $5.1 billion. Figures obtained from the National Bureau of Statistics showed that while there was a significant investment of $4.3 billion investments in the first quarter, investments in the second and third quarters reduced to $385.32 million and $407.25 million respectively. The portfolio investment, in the…
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Total Pension Assets Hit N12.3 Trillion In 2020
National Pension Commission has reported that the total pension assets under the Contributory Pension Scheme rose to N12.3tn in 2020. This is an N2.1 trillion increase when compared to 2019 which had N10.2tn. According to PenCom N8.13 trillion of the funds was invested in Federal Government of Nigeria Bonds, while N858.46 billion and N92.91billion were…
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TETfund Increased Research Fund In Three Years
The Tertiary Education Trust Fund disclosed that it increased its funding volume for research in the last three years, totalling N15.5 billion naira. In 2018, TETfund funding was N3 billion but moved up to N5 billion in 2019 and N7.5 billion in 2020. It is also foresighting N8.5 billion for 2021. This was disclosed by…
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Economy: Highlights Of CBN Intervention In 2020
The Central Bank of Nigeria’s Monetary Policy Committee accessed the economic growth of Nigeria for the purpose of projecting a recovery plan for 2021. In its assessment, MPC recognised the dampening effect of the pandemics on the economy in terms of GDP, inflation, food price index, forex, PMI and crude oil sales. However, the committee…
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Nigeria Generated N1.4 Trillion From CIT In 2020
A sum total of N1.409 trillion was earned by the Federal Government from Company Income Tax in 2020. This is according to a report released by the National Bureau of Statistics on the sectoral distribution of company income tax data. According to the report, “Sectoral distribution of Company Income Tax data for Q4 2020 reflected…
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In Two Decades, Nigeria had 10 Army Chiefs
Nigeria has appointed 10 army chiefs to guard the nation against insecurities since the handover into democratic governance in 1999 till date. The Chief of Army Staff (COAS) is the highest ranking military officer of the Nigerian Army. This position is often occupied by the most senior commissioned officer following the appointment by the president…
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2021 Week 4: Weekly COVID-19 Cases Drop In Fourth Week
The total cases of COVID-19 recorded in the fourth week of 2021 have dropped to 9538 against the 11,000 cases recorded in the previous week. On averagely, Nigeria had 1362.5 cases reported daily in the fourth week. According to the Nigeria Centre for Disease Control, Nigeria reported 1483 cases of COVID-19 on Friday and increased…
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EU Ban: Nigeria Losses Million To Beans Exportation
The European Union has extended the export ban on Nigeria’s bean over the country’s failure to implement its food safety action plan submitted to the commission in 2018. The export ban was extended till June 2022. The EU Safety Authority, in 2015, had banned Nigerian beans export after it contained between 0.03mg/kg and 4.6mg/kg of dichlorvos…
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Nigeria Ranks 5th On Inflation Rate In Africa
A collection of data put together by StatiSense has placed Nigeria at 5th position in the ranking of African countries with the highest inflation rate in December 2020. Statisense published that Nigeria’s 15.8 percent inflation rate comes behind Zimbabwe, Angola, Zambia and Ethiopia. According to the analysis, Zimbabwe had an inflation rate of 348.6 percent.…