Tags : Economy

Nigerians’ Spending On Utility Bills Soars By 387%

The amount Nigerians spent on electronic bills grew by 387.19 per cent from N189.50bn in the first four months of 2019 to N923.24bn in the corresponding period of 2022. This indicates an increase in the use of e-channels by Nigerians on bills such as power and other utilities. According to the Nigeria Inter-Bank Settlement System, […]Read More

Economy: Here Is Why South Africa Is Extending Fuel Levy

The South African government is considering an extension on the reduction in the general fuel levy until early August to ease pressure on consumers from high domestic fuel prices linked to the Russia-Ukraine conflict. In March, the government announced a temporary reduction in the fuel levy of 1.5 rands ($0.09) per litre for two months […]Read More

In Two Months, CBN Defends Naira With $3.36bn

Figures obtained from the Central Bank of Nigeria’s January monthly report on ‘Foreign Exchange Market Developments’ showed that $1.71bn and $1.65bn were injected in December 2021 and January 2022 respectively. This is part of efforts to ensure the stability of the naira. In total CBN injected $3.36bn into the foreign exchange market in two months. […]Read More

Zimbabwe’s Central Bank Lifts Ban On Bank Lending Services

Three years after Zimbabwe reintroduced its currency, a decade after abandoning it for mainly the United States dollar, the local currency’s value has declined from about 2.5 to the US dollar in 2019 to 285 to the US dollar on the interbank market. The Zimbabwean dollar trades even lower in black market at 400 to […]Read More

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Reviewing Nigeria’s 2021 GDP Growth (1)

The National Bureau of Statistics has reported that the country’s Gross Domestic Product increased by 4.03 percent in the third quarter of 2021. This is contained in its Gross Domestic Product Report Expenditure and Income Approach report for Q3, Q4 2021. According to the report, in the third quarter of… You must be registered to […]Read More

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Comparing Q1 Inflation Rate Across Five Years

According to the latest figures from the National Bureau of Statistics, Nigeria’s Consumer Price Index rose to 15.92 percent in March 2022. This new figure was the highest the country has recorded since November 2021. In the first quarter of the year,  Nigeria’s inflation rate grew from 15.60 percent in… You must be registered to […]Read More

Inside Industry Leader’s Strategy To Revive Tourism In Africa

Considered one of the fastest-growing industries in the pre-pandemic era, the tourism industry contributed US$9.2 trillion or 10.4%, to global GDP. Fast forward to 2022, and the industry is still struggling to recover from the Covid-19 pandemic. The African Union estimated that Africa lost nearly 55 billion US dollars in tourism revenues, with a global loss estimated […]Read More

Poor Nigerians To Hit 95.1m In 2022

The World Bank has estimated that the number of poor Nigerians is projected to hit 95.1 million in 2022. This projection is coming as the number of Nigerians falling below poverty line continued to increase since 2015, the Washington-based bank said. It said this in its report titled, ‘A Better Future for All Nigerians: 2022 […]Read More

What Is To Blame For Soaring Inflation Rates In DRC?

Despite an exceptionally high deposit of natural resources, immense biodiversity and hydropower potential, the Democratic Republic of Congo(DRC) have the third-largest population living below poverty lines. Internal conflict, economic downtimes and the global hike in fuel prices have sparked the worst inflation rates in DRC since the peak of the… You must be registered to […]Read More