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Nigeria States Generate N1.23tn As IGR In 2021
According to data from the States’ Internally Generated Revenue, Nigerians across 36 states of the federation paid N1.23 trillion in taxes in 2021. This is a 19.19 per cent increase from the N1.03 trillion paid in 2020. This is according to a report by the National Bureau of Statistics which said that tax revenues accounted…
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Investment: What We Know About Zanzibar’s Blue Economy
In 2020, Zanzibar initiated the Blue Economy Policy, a 10-year nationwide sectoral framework for the implementation of a sea-based economy In 2020, Zanzibar initiated the Blue Economy Policy, a 10-year nationwide sectoral framework for the implementation of a sea-based economy characterized by better protection of the sea and sea resources, utilization of maritime and marine…
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Nigeria Ecommerce Industry Analysis
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Donkey Genitals: The New Illegal Exporting Trend In Nigeria
Last week Tuesday, officials of the Nigerian Customs intercepted 7,000 donkey penises at the international airport in Lagos being exported to China in Nigeria’s latest illegal export trend. Sambo Dangaladima, the Customs comptroller, told reporters that donkey genitals were found in 16 sacks said to be worth an estimated 200 million Naira (£416,000). The suspect…
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Here Is How Namibia’s Hydrogen Plants Could Improve Electricity In Africa
Namibia is creating clean energy sources to tackle its electricity problems through its newly developed hydrogen power systems. A senior executive at HDF Energy shared that the new green hydrogen power plant in Namibia, Africa’s first, would start producing electricity by 2024, putting an end to Namibia’s dependency on South Africa for up to a…
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Passport Issuance Rises By 38%
Data from the Nigeria Immigration Service has shown that the number of passports issued rose by 38 percent between 2020 and 2021. This is an increase from 767,164 to 1,059,607 passports issued in 2020 and 2021 respectively. According to NIS, the passport types ranged from standard, official, diplomatic, emergency travel certificates and refugee passports or…
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Inflation Rate Hits 20.5% In August 2022
Nigeria’s inflation rate has risen by 0.92 basis points to 20.52 percent in August 2022, from 19.6 percent in July. This is the highest record since October 2005 and it represents the seventh consecutive monthly rise in Headline inflation since February. Also, Food inflation rose to 23.12 percent in August 2022, representing a 1.1 percentage-point…
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Japan Joins Investment Pool, Pledges $30 Billion in Aid for Africa
Japan has joined other countries like China and Russia to compete in Africa’s investment market. The country recently pledged $30 billion in aid for development in Africa, saying it wants to work more closely with the continent. At the eighth Tokyo International Conference on African Development (TICAD8) held in Tunisia, Japanese Prime Minister Fumio Kishida said…
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Africa Receives First Grain Shipment From Ukraine Since Russian Invasion
The United Nations has announced that a chartered ship loaded with Ukrainian wheat for millions at risk of starvation in Ethiopia has arrived in Djibouti. The bulk carrier, MV Brave Commander, which is carrying 23,000 tonnes of grain, docked in the Horn of Africa port city on Tuesday, two weeks after leaving a Black Sea…
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Nigeria’s GDP Grows By 3.54%
Data published by the National Bureau of Statistics has revealed that Nigeria’s gross domestic product grew by 3.54 percent, Year-on-Year, in the second quarter of 2022. The GDP grew from 3.11 percent in Q1 2022 and declined to 5.01% in the second quarter of 2021. In addition, the recent rising prices have adversely impacted on…