AfDB, Afreximbank Reports Reveal $5bn Capital Outflow In 2020
The African Trade Finance Survey report has revealed that there were massive capital outflows from Africa, exceeding $5bn in the first quarter of 2020.
The report by the African Export-Import Bank, in collaboration with the United Nations...
Nigeria Businesses Lose $29bn Yearly To Poor Electricity – W/Bank
The World Bank on Wednesday said businesses in Nigeria lose about $29bn annually as a result of the country’s unreliable electricity.
It also observed that Nigeria had the largest number of people without access to electricity...
Consumer Credit Hits N1.6trn In January
The value of consumer credit in the Nigerian economy fell by four per cent to N1.593 trillion in January 2021.
The Central Bank of Nigeria (CBN) revealed this in its monthly economic report for January.
It noted that at the aforementioned...
Nigeria, Others Lose N380bn Annually To Gulf Of Guinea Piracy
Nigeria and other countries in the Gulf of Guinea have lost N380 billion yearly to sea robbers and pirates between 2015 and 2019. Data presented at the Nigerian Admiralty Colloquium in Lagos also showed that...
Higher Oil Prices Increase External Reserves By $409m
The country’s external reserves returned to a growth path as it gained $409m in two weeks, latest figures from the Central Bank of Nigeria disclosed on Monday.
According to the CBN’s figures on movement of reserves, the...
Lagos, Rivers, FCT, Delta Generate Nigeria’s 52.67% IGR In 2020
With the generation of 32.08 per cent, 8.97 per cent, 7.05 per cent and 4.57 per cent share of the 2020 Internally Generated Revenue (IGR) Lagos, Rivers, Federal Capital Territory (FCT) and Delta States respectively...
