FG Hopes To Ramp Up Power Infrastructure With $4bn Funding   The Federal Government (FG) has expressed optimism that the various funding arrangements amounting to about $4 billion it has put in place to boost power transmission capacity and other power infrastructure in the country would...

VAT Revenue Rises By 33% To N2.07trn   The National Bureau of Statistics (NBS) said the federal government generated N2.07 trillion as Value Added Tax (VAT) last year. This represents a 33 percent Year-on-Year (YoY) increase in VAT when compared to N1.55 trillion generated in 2020. Findings from...

'Nigerians Spend $39.66bn On Foreign Education, Medical Tourism'   Nigerians spent a total of $39.66bn on foreign education and healthcare-related services between 2010 and 2020, according to the Central Bank of Nigeria data. According to CBN’s Balance of Payments, Nigerian parents and guardians paid about $28.65bn for...

Foreign Reserves Shed $975.7m Year-to-date   Nigeria’s foreign reserves continued its downward slope, a trend formed towards the end of last year after it failed to sustain a momentary recovery witnessed in October. The gross figure, which has remained a consistent gradual depletion in the past five...

Capital Importation Records $6.7bn, Suffers 30% Decline   The value of capital importation into Nigeria fell by 30.78 per cent from $9.68bn in 2020 to $6.7bn in 2021 according to data from the National Bureau of Statistics. In its ‘Nigerian Capital Importation’ report for the four quarters...

NBS: Capital Importation Rises, hits $2.19bn in Q4 The National Bureau of Statistics says that the value of capital importation into Nigeria increased by 26.35 per cent to hit $2.19 billion in the fourth quarter of 2021. In ‘Nigerian Capital Importation’ report, the NBS disclosed that...