Beans, Garri Prices Drove Annual Food Inflation
The prices of beans and garri drove annual food inflation in May, the National Bureau of Statistic has said in a new report.
The ‘Selected food prices watch for May 2021’ report obtained on Sunday said there was a...
Insurance Industry Assets Now N2.02trn
Insurance companies’ gross written premium rose to N520bn as of the end of 2020, while their assets hit N2.02tn as the sector undergoes recapitalisation.
The Nigerian insurance industry’s asset rose by N401bn to N2.02tn as of the end of 2020 from...
Nigeria Earned N79.96bn From Solid Minerals – NEITI
The Nigeria Extractive Industries Transparency Initiative (NEITI) says Nigeria earned N79.96bn from the solid minerals sector in 2019, according to its 2019 audit report on the sector, released on Sunday, in Abuja.
It said that the figure, which...
In Two Months, External Reserves Fall By $1.4bn
The country’s external reserves fell by $1.4bn in two months, the latest data from the Central Bank of Nigeria showed on Wednesday.
The reserves, which stood at $35.25bn as of April 16, fell to $34.23bn as of May...
FG Borrowed N1.3trn In Four Years To Subsidise Power Consumers - W/Bank
The Federal Government has borrowed a total of N1.3tn since 2017 to ensure that generation companies and gas suppliers received enough payments to continue generating electricity, the World Bank has said.
The bank said...
Rising Inflation Pushed 7million Nigerians Below Poverty Line – W/Bank
The World Bank has said rising prices pushed about seven million Nigerians below the poverty line in 2020.
This was contained in a press statement titled ‘Critical reforms needed to reduce inflation and accelerate the recovery,...
