Although the federal government has issued a state of emergency on food production, Nigeria’s food importation bill has surged to a five-year high in the first quarter of 2024.

Nigeria's economic hardship has continued with fuel prices continuing to soar in March 2024, caused mainly by the current economic reforms embarked upon by the Bola Tinubu administration, the dynamics of international energy rates as well as Nigeria’s inability to refine its fuels locally. 

An increase in the money shared by the Federation Account Allocation Committee (FAAC) boosted the revenues of 15 states in the fourth quarter of last year, resulting in a decrease of N117.6 billion in total domestic debt stock. 

'Subsidy Removal Expected To Generate Fiscal Savings Of N2trn By Year End' The removal of the PMS subsidy is expected to provide fiscal savings of N2 trillion in 2023 and this, together with earnings from improved oil exports and non-oil sources would buoy government’s revenue. According...

28 States Attracted No Foreign Investment In Q1 - NBS   28 states failed to attract capital importation in the first quarter of 2023, according to the new Foreign Direct Investment data released by the National Bureau of Statistics (NBS). Out of the 36 states and the...

Telecom Sector Contributes N2.5trn to GDP In Q1, 2023   The Telecommunications and Information Services sector in Nigeria contributed N2.508 trillion, representing 14.13 per cent, to the nation’s gross domestic product, GDP, in the first quarter of 2023 (Q1’23). The National Bureau of Statistics (NBS) report showed...