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States’ Debts Hit N6.43tn In 2021
According to the latest data from the Debt Management Office, the domestic debts owed by state governments and the Federal Capital Territory Administration rose to N6.43tn at the end of 2021. While sub-national domestic debt stock was N4.46tn, the sub-national external debt stock was N1.97tn in 2021. The N4.46tn domestic debt represents 11.27 per cent…
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Capital Importation Rises By 26% In Q4
According to new data from the National Bureau of Statistics, the value of capital importation into Nigeria increased by 26.35 percent to hit $2.19 billion in the fourth quarter of 2021. In its ‘Nigerian Capital Importation’ report, the NBS disclosed that capital importation increased from $1.73 billion in the third quarter of 2021 to $2.19…
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Foreign Airlines’ Trapped Funds In Nigeria Hit N117bn
The International Air Transport Association has said that the total foreign airlines’ fund trapped in Nigeria has increased to $283million (about N117.6bn). This is an increase from $147 million (N61 billion) which it recorded in August 2021. Finding showed that the money accumulated from the sale of tickets by about 30 airlines flying to the…
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Over N2.4bn Projects Linked To National Assembly Leaders
A civic-tech non-profit organisation, BudgIT has said that projects worth over N2.4 billion in the 2022 budget were directly linked to the leaders of the national assembly. The findings, which were disclosed by the communications associate, Iyanu Fatoba, said BudgIT uncovered infractions and corruption loopholes in the 2022 approved budget by the national assembly leaders.…
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Charges On Transportation Increased In February 2022
Latest data by the Nigerian Bureau of Statistics has revealed that the average fare paid on transportation by commuters in February 2022 increased. The report, published in NBS website, shows Transport Fare Watch for February, 2022 covering the following categories: bus journey within the city per drop constant route; bus journey intercity, state route, charge…
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Prices Of Petrol, Diesel, Kerosene, Gas Increase In February
Figures from the Nigerian Bureau of Statistics have shown that prices of petrol, diesel, kerosene and gas increased in February 2022. For petrol, the price went up by 2.42 percent; diesel by 8.29 percent; kerosene by 3.10 percent and household gas by 1.39 percent when compared to its records in January 2022. Nigeria, since February,…
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Nigeria Incurs N950bn Domestic Borrowing In Q1 2022
The Debt Management Office has revealed that the federal government of Nigeria has incurred a new N950bn domestic borrowing between January 2022 and March 11, 2022. The fresh borrowing was disclosed by the Director-General of the DMO, Patience Onihain in the presentation of the Public Debt Data as of December 31, 2021. In the…
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Nigeria Loses N150bn Annually To Fake Battery Products
An expert, Solomon Nwadiogbu, has estimated that Nigeria loses about N150bn annually to fake battery products. Nwadiogbu, who is the Chief Executive Officer, Emilinks Nigeria Limited, stressed that the circulation of these fake battery products often cause damage to cars in the nation. According to him, Nigeria needs approximately five million batteries annually with an…
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Import Bill On Used Vehicles Rises By 12%
Findings from the National Bureau of Statistics has shown that Nigeria’s spending on importing used vehicles rose by 12.6 percent to N617.48 billion in 2021. This is an increase from N548 billion in 2020 on the back of reduction in import duty on used vehicles. NBS Foreign Trade data in Goods Statistics report showed that…
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Nigeria Serviced Debt With N2.93tn In 2021
According to the data obtained from the DMO, findings showed that Nigeria spent N2.93 trillion on debt servicing payments in 2021. The Director-General, DMO, Patience Oniha, said the total public debt stock of Nigeria increased to N39.56tn in 2021. Between January and March 2021, Nigeria spent N612.71bn on domestic debt servicing, while it spent $1bn…