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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…
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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…
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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…
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[Fact Check] All You Need To Know About The New USSD Rates
![[Fact Check] All You Need To Know About The New USSD Rates](https://twentytendaily.com/wp-content/uploads/2021/06/pexels-adrianna-calvo-17663-850x560.jpg)
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…
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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…
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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…
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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…
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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…
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Expert Says Nigeria Has Lost N11.6 trillion to COVID-19
Financial analyst Tony Edeh has put the cost of the coronavirus pandemic on the Nigerian economy at N11. 6 trillion while discussing triggering inflation and the economy. While decrying poor Foreign Direct Investment, FDI inflows into the country in the past few years, Edeh told The Vanguard that the country was steadily slipping into recession…