In Nine Months, Rising Cost of Living Pushes Nigerians to Borrow N740bn from Banks The rising cost of living has pushed Nigerians to borrow about N740 billion from banks between January and September this year. An analysis of the quarterly economic reports of the Central Bank...

Report: FG Rakes Oil Revenue Worth N1.4tn in February The Federal Government earned the sum of N1.4tn from oil export in February. Earnings from oil export rose marginally last month, as oil output increased by 100,000 barrels per day, amounting to a rise of 2.8 million...

Naira Scarcity: Bank Customers Borrowed N947bn According to a document by the Monetary Policy Committee of the Central Bank of Nigeria, Money Banks offered 130,854 new credits valued at N947.46bn to their customers in December 2022. A member of the MPC, Adeola Adenikinju, disclosed this in...

Nigeria’s GDP Rose by 3.52% In 4th Quarter - NBS According to the National Bureau of Statistics (NBS), Nigeria’s Gross Domestic Product (GDP) grew by 3.52 percent in the fourth quarter of 2022. The NBS made this claim in the Nigerian GDP Report for Q4...

FG: Discos Reject 408MW Excess Power Power distribution companies have stepped up the quantum of electricity load allocation that they receive and distribute to consumers across the country, as the latest data from the Federal Government showed a reduction in the amount of unutilised energy...

We Now Spend Above N400bn Monthly on Subsidy - NNPCL The Nigerian National Petroleum Company Limited, on Friday, revealed that the amount spent as subsidy on Premium Motor Spirit, popularly called petrol, had crossed N400bn monthly. NNPCL’s Group Chief Executive Officer, Mele Kyari, disclosed this at...