Nigerian Insurance Sector Rebounds, Records 8.01% Annual Growth   The Nigerian insurance industry grew by 8.01 per cent in 2021, compared to a negative growth rate of 13.29 per cent in 2020, figures obtained from the National Bureau of Statistics have shown. The NBS, in its Gross...

The International Monetary Fund (IMF), projected that by 2022 Nigeria would spend almost 92 kobo of every Naira it earned on servicing its growing debt. This implies that only 8kobo of every Naira earned will be used for development. According to the IMF's Article IV...

The Nigerian National Petroleum Corporation (NNPC) Limited reported earnings of $224.29 million (about N93.424 billion) from crude oil and gas exports in August, 2021, as compared with $191.26 million (N79.7 billion) in July, 2021. A breakdown of the figures captured in the August, 2021, NNPC...

The Senate Committee on Public Accounts has cleared the Bureau of Public Enterprises (BPE) of allegations of financial impropriety brought against it by the Office of the Auditor General of the Federation (OAuGF). This is contained in a statement issued by Mr Ibeh Chidi,...

More Nigerians Lose Job, Withdraw N30bn Pension Savings   More Nigerians withdrew funds from their pension savings, after losing their jobs, the numbers rose to 28,041 in September 2021 from 26,458 in the same period of 2020. Data obtained from the National Pension Commission on withdrawal of...

Rice, Beans, Tomato Jerked Up December’s Inflation   The eight-month reduction in Nigeria’s inflation was broken in December following a 0.23 percentage point increase as a result of the movement in the prices of mainly rice, bean and tomato. Economic Confidential had reported that the 15.63 inflation...