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Foreign Inflows Fall By 32%
The Central Bank of Nigeria has disclosed that capital importation into the country fell by 32 percent to $500m in October 2021. This is a drop from $660m recorded in September, 2021 which was an increase as against $440m recorded in August. The CBN disclosed these figures in its latest monthly economic report (October) recently…
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In Nine Months, Gencos Record N304bn Payment Shortfall
Between January and September 2021, the Federal Government has said that power generation companies were paid a total of N311.1bn after providing an invoice of N614.6bn for electricity supplied. However, the government had to augment the payment to the Gencos with a total of N129.83bn Payment Assurance. This was between January and June last year.…
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Global Employment Expected To Remain Low In 2022
A report by the International Labour Organization (ILO) has shared that global employment will not recover to pre-pandemic levels until at least 2023, with a projected shortfall in work hours worked in 2022 equivalent to 52 million full-time jobs. The United Nations agency said it had reduced its forecast for the year due to the…
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Nigeria Loses N2.8tn Independent Revenue In Six Years
Nigeria has recorded a shortfall of N2.8 trillion in independent revenue from the federal government revenue generating agencies between 2015 and 2020. An analysis of data from the Budget Office has shown that over the years, many of these agencies have been underpaying revenue into the coffers of the Federal Government, thus making it difficult …
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External Reserves Drop First Week Of January
According to data from the Central Bank of Nigeria (CBN) on daily reserve movements, Nigeria’s external reserves dipped $24.3 million in the first week of 2022 to close at $40.49 billion as of 7 January 2021. This represents a 0.06% decline when compared to $40.42 billion recorded as of the start of the week. The…
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Twentyten Daily Celebrates Its First Anniversary!
TwentyTen Daily is celebrating its first anniversary, a milestone marked by many exciting moments with its own fair share of highs and lows. Over the past one year, with its team made up of journalists, data visualization experts and media innovators. It has extensively published in-depth data-driven stories and reports under a wide range of verticals…
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Bank Loans To Government Rise By 22.59%
According to the Central Bank of Nigeria report titled, ‘Deposit Money Bank’s sectoral allocation of credit’, bank loans to the government have risen by 22.59 percent, hitting N2.17tn as of the end of September 2021. This is a N400bn increase within the nine-month period from N1.77tn recorded in December 2020. According to the figures, bank…
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Nigeria’s diaspora Remittances Rise To $14.2bn
Nigeria’s diaspora remittances inflow rose to $14.2 billion in the nine months ending September 2021. This is up 10 per cent Year-on-Year, YoY, from $12.9 billion in the corresponding period of 2020, despite the impact of COVID economy. This is contained in a data from the Central Bank of Nigeria, CBN, which also shows that…
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Capital Importation Falls By N1.68tn
Data from the National Bureau of Statistics revealed that capital importation has dropped by $4.08bn (N1.68tn) in one year. Between January and September 2020, total capital importation amounted to $8.55bn. However, according to the latest capital importation report by the NBS, during the same period in 2021, foreign capital inflows into the country fell by…
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Nigeria’s Crude Oil Earnings Hit N12.4tn In 11 Months
Between January and November 2021, Nigeria produced a total of 440.774 million barrels of crude oil valued at about N12.4tn. An analysis of the latest oil production data released by the Federal Government showed that the Federal Government raked in about N12.4tn from crude oil alone sales during the review period. This is contained in…