Tags : Nigerian economy

Nigeria’s inflation falls to 16.63%, lowest in eight months

According to the National Bureau of Statistics, the inflation rate in Nigeria declined for the sixth consecutive month to 16.63 percent in September. Its lowest level since January this year. In its Consumer Price Index, NBS said the inflation rate fell by 0.38 percent from 17.01 per cent in August. The drop in headline inflation […]Read More

Infographics: Rice Production And Consumption In Nigeria

The Nigerian Customs Service (NCS) in a recent statement shared that the ban on the importation of foreign rice has boosted local production by a large percent, especially in the northern regions of Nigeria. Acting Controller of the Katsina Command, Alhaji Dalha Wada-Chedi, shared that the closure of borders by the present administration has pushed […]Read More

Video Explainer On NDDC Audit Report

The Minister of Niger Delta Affairs, Godswill Akpabio, had submitted the forensic audit report on the Niger Delta Development Commission (NDDC) to President Muhammadu Buhari, through the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami. Findings from the report states that 13,000 projects were abandoned in the region since the creation […]Read More

Nigeria’s Eurobonds Debts Rise By $9.37bn In 5 Years

The commercial loans obtained by Nigeria through Eurobonds have risen from $1.50 billion as of December 31, 2015 to $10.87 billion as of December 31, 2020. This indicates a $9.37 billion or 625 percent increase in five years. The debt stock remained at $1.5 billion from 2015 to 2016, but rose to $6 billion by […]Read More

Nigeria Is 5th On World Bank’s Borrowers’ List

According to a financial statement of the International Development Association, Nigeria is the fifth highest borrower from the World Bank Group and among the 10 highest debt risk exposure globally. The report is contained in the Fiscal Year 2021 of the World Bank. Nigeria has borrowed $11.7 billion (about N4.816 trillion), the report said. The […]Read More

[Fact Check] All You Need To Know About The New

By now, many bank customers in Nigeria may have received the email or text from their banks notifying them of the charge on every USSD transactions. John Akubuiro told TwentyTen that he got an email from Access Bank titled “Important Update on USSD Transactions”. The mail informed him that a fee of N6.98 would be […]Read More

10 Richest Countries Vs 10 Poorest Countries In The World

Declared a global emergency in 2020, the Covid-19 pandemic did not only have a detrimental effect on global healthcare systems but the global economy was also affected badly, with countries having to flatten the virus spread curve by shutting down nearly all its revenue-creating sectors. Over a year down the line, the world economy is […]Read More

Report: The Future Of Electric Vehicles In Nigeria

Nigeria recently announced the launch of its first-ever, locally assembled electric vehicle, the Hyundai Kona. This to many might seem like Nigeria’s way of expressing her readiness to pick up the pace towards addressing the problems of climate change like the rest of the world. However, the reality is that this seeming giant stride leaves the […]Read More

Could Crypto Trading Be Nigeria’s Economic Messiah?

Data sources from Google Trends shows that Lagos, Nigeria ranks as the number one city based on the volume of online searches for Bitcoin (BTC). While this data might alarm you if you still think crypto trading is scam, this data most definitely shows a high level of interest among the city’s approximately 21 million people. What […]Read More

Economic Consequence of Hike in Nigeria’s Unemployment Rates

In 2019, Nigeria’s unemployment rate stood at 23.1 percent of the workforce in the third quarter, up from 18.1 percent of the previous year. In 2020, Nigeria’s unemployment rate came in at 27.1 percent, the highest on record which the government blamed on the coronavirus pandemic and the fall in global oil price. Facts however still remain that restive […]Read More