-
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…
-
Nigeria’s Foreign Capital Inflow Drops $9.68bn, Lowest In Four Years
The foreign capital flow into Nigeria reduced by more than half in 2020 to $9.68 billion. According to the National Bureau of Statistics, it is the lowest level obtained in four years. The NBS, in its capital importation report for the fourth quarter and full-year 2020, said the total value of capital importation into the…
-
Food Inflation Rocks Nigeria’s Economy
Following a report published by the National Bureau of Statistics, the prices of food rose by 1.3 percent in December 2020, The closely watched index rose sharply by 19.56% in December compared to 18.3% recorded in the previous month. According to the report, “On a month-on-month basis, the food sub-index increased by 2.05% in December…
-
Nigeria’s Inflation Hit Climax In Three Years
According to the latest Consumer Price Index report, released by the National Bureau of Statistics (NBS), Nigeria’s inflation rate increased by 15.75 percent (year-on-year) in December 2020. This is the highest rate recorded since 2017. The report showed that the latest figures are 0.86 percent points higher than the rate of 14.89 percent recorded in…
-
Nigeria’s Debt Service Charge Rise By 89%
The cost of servicing Nigeria’s public debt has increased by 88.8 percent in the third quarter of last year (Q3’20). The debt rose from N425.7 billion in Q2’20 to N803.69 billion. The amount was used to service the country’s debt stock of N32.22 trillion during the review period. According to the National Bureau of Statistics, the…
-
Direct Remittances Decreased By 97.3 Percent In 2020
When the End SARs protest started gathering momentum, Twitter CEO Jack gave his financial support using bitcoin to end police brutality against Nigerian youths. Monetary donations came from within the country and outside the country, with over 62 million naira raised. The latest data released by the Central Bank of Nigeria showed that direct remittances…