According to new data from the Nigerian Communications Commission, the number of mobile subscriptions in Nigeria rose to 222.23 million in 2022. This is coming despite the implementation of the Federal Government’s National Identification Number-Subscriber Identity Module policy. In April, over 72.77 million active telecommunication subscriptions were barred from making calls at the beginning of […]Read More
Figures obtained from the Central Bank of Nigeria on money market indicators revealed that the maximum lending rate in the banking sector hit 29.13 per cent while savings deposit rates were 4.13 per cent as of the end of December 2022. According to the report, the prime lending rate was 13.85 per cent, while the […]Read More
Data from the external loans reports obtained from the Debt Management Office has shown that the Federal Government of Nigeria borrowed about $3.27 billion from five countries between June 30, 2015 and September 30, 2022. DMO said that within the period, Nigeria’s borrowings from the five countries rose by 206.96 per cent from $1.58bn in […]Read More
The Federation Account Allocation Committee shared N990.189 billion to the three tiers of government as revenue from the month of December 2022. The amount is inclusive of gross statutory revenue, value-added tax (VAT), exchange gain and electronic money transfer levies. From the amount, the federal government received N375.306 billion, the states received N299.557 billion and […]Read More
Findings in the electronic payment data from the Nigerian Interbank Settlement System have shown that the volume of Point of Sales (PoS) transactions fell Month-on-Month (MoM) by two per cent to 85.2 million in December 2022 from 86.7 million in November. Also, the value of PoS transactions rose MoM by 8.8 per cent to N826.3 […]Read More
According to the Central Bank of Nigeria’s financial data, Deposit Money Banks borrowed the sum of N5.744 trillion from the CBN via the Standing Lending Facility window and Repurchase Lending platform in 2022. This is a 260 per cent increase when compared to the N21.87tn recorded via the same windows in 2020 and a 19.3 […]Read More
Capital importation into Nigeria’s economy fell year-on-year by 24.6 per cent to $4.56 billion in the first 10 months of 2022 (10M’22). This is from $6.05 billion in the corresponding period of 2021. Findings from the Monthly Economic Report of the Central Bank of Nigeria, CBN, also showed that capital outflows declined y/y by 32 […]Read More
The Nigerian Export Promotion Council has revealed that Nigeria’s non-oil exports grew by 39.91 per cent in 2022 to $4.820 billion. Semi-processed/manufactured products made up 36.61 per cent of the exports beating Agriculture’s 30.12 per cent volume of non-oil exports, while precious stones made up 17.06 per cent, and others 13.21 per cent. This was […]Read More
Data from the Central Bank of Nigeria has shown that the deficit spending by the Federal Government fell by 21 per cent, Month-on-Month. This is a drop to N530 billion in October last year from N670.7 billion in September, driven by a decline in interest payments on domestic debts. Meanwhile, revenue into the Federation Account […]Read More
The Central Bank of Nigeria has disclosed that consumer credit fell Month-on-Month by 1.3 per cent. This, according to the bank, is a drop to N2.37 trillion in October 2022 from N2.4 trillion in September 2022. CBN disclosed this in its October 2022 Economic Report, noting that the development in consumer credit was a result […]Read More
© 2022, TwentyTen Daily - Limited. All rights reserved. Our Privacy and Terms. Use our Visualizations.