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40% Nigerian Households Use Generators
A joint report put together by a research firm and a financial institution has shown over 40 percent of households in Nigeria own and use generators to meet their electricity requirements. According to the report it stated that the affected households spent about $14 billion annually to fuel their generators, as the power supply from…
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Household Consumption Drops By N1.6 trillion
Nigeria’s household consumption for 2020 dropped by ₦1.6 trillion, according to the National Bureau of Statistics’ latest Gross Domestic Product report (Expenditure and Income Approach) report released. The statistics agency said total household consumption dropped from ₦108 trillion in 2019 to ₦106.4 trillion in 2020. Consumption expenditure is an important indicator in measuring economic growth…
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COVID-19: CBN Disburses N149.2bn Loans To Households
As part of measures to reduce the effect of the COVID-19 pandemic, the Central Bank of Nigeria has disbursed N149.21 billion to 316,869 households across the country. After meeting required guidelines, the funds were disbursed through the NIRSAL Microfinance Bank to beneficiaries– the first phase of the N150 billion Targeted Credit Facility (TCF). CBN Governor…
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COVID-19: 58 Percent Of Households Reduced Their Feeding
A survey by the National Bureau of Statistics has shown that 58 percent of households in the country reduced their food consumption during the pandemic. It revealed that between June to December 2020, household reduced their feeding in order to cope with shocks caused by COVID’19. According to the Bureau, this and other strategies adopted…