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Fact Check: Are African Software Developers In High Demand Globally?
The best part of the pandemic at its peak was the reliance on remote working that directly advanced computing technology in Africa. A Google report showed that the pandemic created more remote employment opportunities for African developers, leading to a global rise in demand for remote tech talent. In the Africa Developer Ecosystem report, data gathered…
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NGX Annual Profit Hits 22%
The Nigerian Exchange Group’s profit after tax rose by 22 percent at the end of the 2021 financial period. The group, who disclosed this in its audited results which ended December 31, 2021, revealed that its gross earnings rose by 13 percent to N6.8bn from N6.0bn; while its revenue rose by 14.9 percent from N5bn…
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Pension Assets Grow By 3.26%
According to the fourth quarter 2021 report of the National Pension Commission, the total value of Nigeria’s pension fund assets as at 31 December 2021 grew by 3.26 percent Quarter-on-Quarter to N13.42 trillion from N13.01 trillion recorded in September, 2021. PenCom said the growth was mainly due to pension contributions received and market valuation of…
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Mobile Transactions Hit N8.07tn In Five years
According to the Nigeria Interbank Settlement System and Nigerian Communications Commission, mobile transactions in Nigeria have jumped by 4,009.58 percent to hit N8.07tn within a five-year period as the number of telecommunication subscribers rises by 34.91 per cent to 195,128,265. Reports on the mobile inter-scheme transaction data tracked on the NIBBS portal revealed that mobile…
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Manufacturing Sector GDP Rises 3.35%
Analysis of the Q4 2021 Gross Domestic Product report of the National Bureau of Statistics has shown that the manufacturing sector bounced back to growth with N6.5 trillion in 2021, representing 3.35 per cent growth from N6.29 trillion in 2020. The sector had recorded a contraction of 2.75 per cent in 2020 from N6.47 trillion…
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Investors Gain N3.2trn In Two Months
In the equities market, investors on the Nigerian Exchange Limited, have gained N3.247 trillion Year-to-Date. The capital gains in February was N419 billion. This is coming despite the Ukraine-Russia crisis which had forced losses in equities across economies. The market capitalisation which represents the total value of investment on the Exchange closed the month at…
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Agric Sector Output Grows In Two Years
Data from the National Bureau of Statistics have shown that the agriculture sector recorded improved performance in 2021, when compared to the previous year. The NBS said the sector output grew by N3.89tn from N37.22tn in 2020 to N41.12tn last year. This development is coming despite worsening insecurity in food-producing states in the country last…
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N2.55bn Unremitted Pensions Recovered In 2021
Data obtained from the National Pension Commission has shown that the commission recovered N2.55bn pensions deducted by employers from employees’ monthly emoluments in 2021 but not remitted to the Retirement Savings Accounts with their respective Pension Fund Administrators. In the latest PenCom’s latest quarterly report,the recovery included unremitted contributions and sanctions, as the commision disclosed…
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FG Raked In N1.69tn Company Tax
According to statistics from the National Bureau of Statistics. The Federal Government raked in N1.69tn from company income tax in 2021. This is a 19.56 per cent increase from the N1.41tn that was collected in 2020. The NBS data showed that the Federal Government raked in N392.77bn during the first quarter of 2021, N472.07bn in…
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FG, States, LGAs Share N574.668 As Revenue In January 2021
In a communiqué issued at the end of a virtual meeting of the Federation Account Allocation Committee (FAAC) for February, 2022, the federal, state and local government areas have shared a total of N574.668 billion as revenue for the month of January, 2022. The N574.668bn total distributable revenue comprises distributable statutory revenue of N291.400bn; distributable…