-
Household Expenditure Drops In Q2’22
Data from the National Bureau of Statistics (NBS) GDP, Expenditure and Income Approach report for Q1 and Q2 2022, has reveled that the real household final consumption expenditure grew by just 2.32 percent in the second quarter of this year, Q2’22. This represents a 6.2 percentage points quarter-on-quarter, QoQ, decline in growth rate when compared…
-
FG’s Expenditure Exceeds Revenue In Six Months
Latest figures obtained from the Central Bank of Nigeria has shown that the Federal Government’s expenditure in the first six months of 2022 exceeded revenue by N6.23 trillion. According to the second quarter economic report on fiscal sector development compiled from the OAGF and CBN staff estimates, the Federal Government recorded N3.2 trillion and N2.74…
-
Nigeria’s Public Debt Stock Increases To N42.84trn
The National Bureau of Statistics has said Nigeria’s public debt stock increased from N35.46 trillion (86.57 billion dollars) in the second quarter of 2021. This is an increase to N42.84 trillion (103.31 billion dollars) in the corresponding period in 2020. Public debt stock includes external and domestic debts. NBS said in its Nigerian Domestic and…
-
Pension Funds Investment Rise By 43.9%
The Pension Fund Administrators (PFAs) interest in corporate debt securities rose by 43.9 percent Year-on-Year (YoY) in August, 2022. The PFAs committed N1.380 trillion at the end of August 2022 as against N960.58 billion in the corresponding period in 2021. The breakdown shows that the N1.380 trillion invested in the corporate securities represented 9.59 percent…
-
Foreign Capital Inflow Up By 83%
Analysis of the Nigerian Capital Importation report for Q2’2022 has shown that foreign capital inflow into the production sector rose by 83 percent, Year-on-Year (Y-on-Y) to $457.66 million in the first half year ended June 2022 (H1’22). This is an increase from $245.22 million in the corresponding period in 2021. Analysis showed that the inflow…
-
Dangote Records N332 billion Trade Value In One Day
Dangote Cement closed its trading session at N240.00 per share and N4.089 trillion in market capitalization in one day. According to reports, on Wednesday, November 3, 2022, the largest cement manufacturers in Sub-Saharan Africa recorded N332 billion in trading values at N240.00 per share and N4.089 trillion in market capitalization. Dangote also stock grew by…
-
Discos Remit N291bn To CBN In Eight Months
Data obtained from the Nigerian Bulk Electricity Trading has shown that the eleven electricity distribution companies in Nigeria remitted a total of N291 billion to the Central Bank of Nigeria within the space of eight months. The data said that the Discos remitted N291 billion out of the N526 billion invoice for electricity that was…
-
PMI Drops Marginally By 0.1 Points
Stanbic IBTC PMI report has shown that the Purchasing Managers Index, PMI, which gauges the level of activities in the real sector, has dropped marginally by 0.1 percent to 53.6 points in October 2022 from 53.7 in September. In the headline figure derived from the survey readings above 50.0 signal positive direction in business conditions…
-
Banks’ Income Tax Rise By 35%
Nigerian banks have paid N75.4 billion as Company Income Tax (CIT) in the first half of the year, (H1’22), representing a 35 per cent rise when compared to N55.67 billion paid in H1’21. Meanwhile, the Federal Government tax revenue rose by 31 percent to N2.44 trillion in H1’22 from N1.86 trillion in H1’21. The banks…
-
Electricity Consumers Pay N210bn In Q4 2021
The Nigerian Electricity Regulatory Commission has said that power consumers paid a total of N210.17bn to distribution companies in the fourth quarter of last year. In its Quarterly Report for Fourth Quarter 202, NERC noted that the N210.17bn represented 9.34 percent of the total electricity bill given to consumers by electricity distribution companies during the…