-
China to Nigeria : Imports Rise By 183.91%, Debts Hit $3.67bn
According to the National Bureau of Statistics data on foreign trade, Nigeria’s import from China rose by 183.91 percent from N530.98 billion in the first quarter of 2018 to N1.51tn in Q1 2022. NBS said China is responsible for most of the imports into Nigeria. In the five quarters under review, China was the number…
-
Nigeria’s Public Debt Climbs By N2.04tn In Q1
The Debt Management Office said that Nigeria’s total public debt stock increased to N41.60 trillion in the first quarter of 2022 from N39.56 trillion as of December 2021. This shows an increase of N2.04 trillion within a period of three months. The public debt stock covers the total domestic and external debt of the Federal…
-
Nigeria Socio economic Development(Monetary Statistics and National Account)
-
Nigeria Socio-Economic Development (Debt, Public finance and National)
-
DisCos revenue surges by 47% to hit N757bn
The Association of Nigerian Electricity Distributors’ 2021 report has said that the revenue collection by the 11 distribution companies increased by 47 per cent to N757bn in 2021. In the association’s report on the Commercial Key Performance Indicator for its members, it said NESI’s revenue collection in 2021 set a new record of N757bn, which…
-
Local, Foreign Companies Withdraw 69.32% Of Investment Projects
The Nigerian Investment Promotion Commission has disclosed in its report that investment commitments declined from $8.41bn in the first quarter of 2021 to $2.58bn within the same period in 2022. This shows that investment commitments declined by 69.32 per cent from Q1 2021 to Q1 2022. According to the Report of Investment Commitments in Nigeria…
-
Nigeria’s Reserves Drop To $39.5bn
Nigeria’s foreign reserves stood at $38.483bn by May 31, 2022, declining by five per cent from $40.521bn reported by end of December 2021. According to an analysis from the Central Bank of Nigeria’s by the end of April 2022, Nigeria’s foreign reserves stood at $39.579 billion, having declined by 2.3 per cent since December 2021.…
-
Subsidy Hits 45% Of Fuel Import Bill In Q1
The National Bureau of Statistics has disclosed that Nigeria spent N1.51 trillion on the imports of premium motor spirit, also known as petrol, in the first quarter of 2022. This was 25.54 percent of the total imports for this quarter, and an increase of 17.05 percent when compared to the N1.29tn spent on importing fuel…
-
Nigerians’ Spending On Utility Bills Soars By 387%
The amount Nigerians spent on electronic bills grew by 387.19 per cent from N189.50bn in the first four months of 2019 to N923.24bn in the corresponding period of 2022. This indicates an increase in the use of e-channels by Nigerians on bills such as power and other utilities. According to the Nigeria Inter-Bank Settlement System,…
-
63 Million Technology Devices Sold In Nigeria Annually
According to data from Original Equipment Manufacturers, about 63 million technology devices are sold in Nigeria every year. The estimates suggest that device owners change their devices every six to 18 months. This was disclosed in the National Communications Commission’s, ‘Deployment of a Device Management System: Project Information Memorandum.’ The commission said, “Data from OEMs…