-
Nigerian State Total Domestic Debt Increases By 84 Billion
The latest data from the debt management office shows that 12 states were able to reduce their local debt in the last 12 months with Kogi reducing its domestic debt stock by 59.15 billion Naira. The decline from these states couldn’t affect the total domestic debt from all 36 states including the FCT as the…
-
House Prices In The UK Went Up By 8.5% in 2020
According to official figures, property value experienced its highest annual growth rate in 2020. House prices rose by 8.5% in 2020 – the highest since October 2014. According to the Office for National Statistics, house prices rose by 7.1% in November and by December 2020, the average UK house price reached a record high of…
-
Report: Contraceptive Sales Skyrockets In February
The American Sexual Health Association (ASHA) recognizes February as National Condom Month. While this might not come as a shock to many, it might surprise you to know that new reports have confirmed what you probably thought might be true. Research by the Society for Family Health (SFH) which factored the Nigerian population and the…
-
Statistics Show US Unemployment Rates Still On The Rise
The Labor Department has said the unemployment rate in the US fell to 6.3%, down 0.4 percentage points from December. Despite the steady economic growth, the US economy has only been able to add only 49,000 jobs in January leaving the country about 10 million jobs short of where it stood in February 2020, before…
-
Bitcoin Made the Naira Useless – Senator Sani Musa
Following CBN’s ban of crypto trading in Nigeria, Nigerian senators have reacted with a majority arguing against the ban. However, Senator Sani Musa of the Niger East Senatorial District argued for the ban insisting that Bitcoin was responsible for the naira’s decline rather than mounting foreign debt, decades of poor economic policies, and corruption. According…
-
FAAC Disburses N604 Billion In November 2020
The sum total of N604 billion was disbursed by the Federation Account Allocation Committee to the three tiers of government in November 2020. This is according to the FAAC report for the month of November 2020, released by the National Bureau of Statistics (NBS). According to the report, the monthly disbursement declined by 5.6 percent…
-
Number Of Poor Nigerians May Hit 100 Million By 2022 – World Bank
The World Bank has forecasted the number of Nigerians living below the poverty level may hit 100 million by 2022, a 20 million increase of the current figure. Gloria Joseph-Raji, World Bank senior economist, made this known while speaking on Tuesday at the launch of a 2021 macroeconomic outlook report by the Nigeria Economic Summit…
-
Report: The Rate Of Insecurity Under The Retired Service Chiefs
Under the command of the outgoing service chiefs, the deaths per day from the Boko Haram insurgency grew to a peak of 233%. In May 2015, a new commander in chief assumed the command of the Nigerian army with the country reporting death per day in the Boko Haram war at 767; this casualty steadily…
-
IMF Predicts Weak Recovery For Nigeria’s Economy
The International Monetary Fund has said Nigeria’s recovery from the impact of the COVID-19 is expected to be weak and gradual under current policies. IMF added that the country’s real Gross Domestic Product is expected to recover to its pre-pandemic level only in 2022. In the report titled “IMF executive board concludes 2020 Article IV…
-
Oil Prices Revert To Pre-Covid Level Despite Low Demand
Oil prices have experienced a revert to pre-pandemic levels having hit an all-time low last year. While demand for oil is still lower than normal, the rolling out of vaccines have positively affected the oil prices, leaving in its wake hopes of a speedier than expected economic recovery. Prices “Black gold” has now reached $60…