Rubber Imports Increase by 106% Shrinking local rubber production has forced imports to jump by 106 percent in 10 years. Data from the National Bureau of Statistics (NBS) shows that Nigeria imported N631.1 billion worth of rubber in 2013. But this has jumped by N1.3 trillion...

Nigeria’s Exports to ECOWAS Now N1.5trn – NBS   Nigeria's trade with ECOWAS countries reached new heights in Q3 2024, with exports valued at N1.54trn, according to the National Bureau of Statistics (NBS). Data from the bureau also showed that Nigeria’s imports stood at just N82bn. The report...

Fact-Check: No Inheritance Tax in Tinubu's Tax Reform Bill, Says PRNigeria PRNigeria has debunked claims that inheritance tax has been introduced into President Bola Ahmed Tinubu’s Tax Reform Bill to target Muslims. The assertion, which gained traction on social media platforms, particularly WhatsApp, was based...

Insurance Market’s Gross Premium Now N813.1bn   The insurance market recorded about N813.1billion in Gross Premium Written in Quarter 2, 2024, indicating a 47.4 per cent growth rate compared to the same period of the previous year and a 72.7 per cent, quarter on quarter, it...

Foreign Trade Payments in LC Drop by 146% to $434.05m   Nigeria’s foreign trade payments through Letter of Credit (LC) fell by 146.5 percent year-on-year (YoY) to $434.05 million in the first nine months of 2024 (9M’24) from $1.07 billion in the corresponding period of 2023. The...

Customer Deposits in Eight Banks Now N85trn   Customer deposits in eight Deposit Money Banks reached N85.58tn in the third quarter of 2024, a 12.2 per cent increase from the N76.26tn recorded in the same period in 2023. This was disclosed in the Unaudited Interim Financial Statements...