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In Six Years, Over Hundred Thousand Retirees Withdraw N29.26bn
According to information obtained from the National Pension Commission, in six years, a total of 118,044 retirees have withdrawn N29.26bn from their Retirement Savings Accounts. These retirees have left the Contributory Pension Scheme because they had low balances in their accounts which could not be utilised as monthly stipends. The affected retirees were those that…
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BokoHaram: In 10 Years, over 34,000 Nigerians Have Been Killed
Data obtained from Nigeria Security Tracker has shown that a total of 34,579 Nigerians have died as a result of the insecurity threat posed by the jihadist group, Boko Haram. The group, said to have begun its insurgent attack on the Nigeria government in 2009, is known for extinguishing several Nigerians, ethnic group, farmers from…
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1.8 Million Nigerians Contracted HIV/AIDS Amid COVID-19 Crisis
An estimated population of 1.8 million Nigerians are living with transmittable HIV/AIDS infection, a report by the National Agency for the control of AIDS revealed. The agency, established to monitor, educate and evaluate all HIV/AIDS activity in the country, reported that 13 out of every 1000 random people selected are likely to test positive to…
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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…
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Second Wave of COVID-19 Threatens Lagos Economy
Nigeria’s economic capital, Lagos State, might need to initiate additional control measures to control the spread of coronavirus, as the state, just in five days of the new year recorded over two thousand cases of the virus. Lagos State, known for industrialization, has championed Nigeria’s economy with increasing capital investment, internally generated revenue, infrastructural and…
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Nigeria’s High Rate of Maternal Mortality is Still Highly Underreported
Maternal mortality is the death of a woman while pregnant or within 42 days following the delivery or termination of a pregnancy. According to the World Health Organisation (WHO), Nigeria accounts for almost 20 per cent of global maternal deaths. Globally, maternal mortality remains a major public health concern, especially in poorly resourced and developing…
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Nigeria Ranks No.2 Bitcoin Market in the World
Over the last five years, Nigeria has traded 60,215 bitcoins, valued at more than $566 million which, apart from the US, is the largest volume worldwide on Paxful, a leading peer-to-peer bitcoin marketplace. The data scraped from Coin Dance shows from the beginning of May 2015 to the middle of November this year, bitcoin trade…
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In 9 Months, Eight Banks Made N26.73bn from International Trade
Between January and September, eight banks gained a total of N26.73billlions from Letter Credits issued for international trade transactions, indicating a 23 percent increase as against the N21.68billion in the previous year. The letter credit is issued by banks to guarantee that a seller will receive a buyer’s payments on time and for the full…
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Nigerians Spend More to Eat than Live
More than 82 million Nigerians, who live on less than $1 a day, are finding it difficult to eat a basic three square meal as the food inflation in November hits 18.30 percent in November 2020 compared to 17.38 percent in October 2020. The latest data by the National Bureau of Statistics recorded that the…
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30 Million Nigerians Affected as COVID-19 Increases Learning Poverty to 63% ― World Bank
The outbreak of COVID-19 pandemic has further exposed the weaknesses of education systems around the world and might have increased Learning Poverty rate by 10 points, from 53 per cent to 63 per cent in low and middle-income countries like Nigeria, revealed a recent report by the World Bank. The report was titled “Realising the…