In Five Years, Nigeria’s Revenue Declined by $1.4bn   The Governor, Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, has revealed that the country’s revenue suffered a significant drop of approximately $1.4 billion, or $275 million annually, between 2015 and 2019 at a time when the...

Companies Raise Employees' Salaries by 18.35% in Six Months   To combat rising inflation in the country, companies increased the salaries of their staff members by 18.35 per cent to N29.45 trillion in the first six months of 2023. This is based on data from the National...

PFAs Invested N130bn in Infrastructure – PenCom   Pension Fund Administrators (PFAs) invested N130.18 billion funds under the Contributory Pension Scheme in infrastructure as of the end of September 2023. Figures obtained from the National Pension Commission (PenCom) on ‘Unaudited report on pension funds industry portfolio for...

Nigeria Leads as Airlines’ Trapped Funds In Africa Hit $1.68bn - IATA   Foreign airlines’ trapped funds in Africa hit a record $1.68 billion by the end of September 2023 with Nigeria topping the list of debtors, the International Air Transport Association (IATA) has revealed. Other countries...

$35bn Required to Execute Concrete Road Projects - Umahi   The Minister of Works, David Umahi, has revealed that the government needs $35bn to kick start the construction of concrete roads nationwide. He also stated that the moribund Ajaokuta steel company will provide 16 per cent of...

States Borrow N988trn, Spend N1.7trn on Meals, Trips, others   The 36 states of the federation have spent N1.71tn on recurrent expenditures including allowances, foreign trips, office stationery, aircraft maintenance, and more in the first nine months of 2023. This is according to an analysis of their...