Nigeria Spends Over N13trn On Subsidy - NEITI   Nigeria expended over N13.69 trillion between 2005 to 2021 to finance subsidy payments, the Executive Secretary, Nigeria Extractive Industry Transparency Initiative (NEITI), Orji Ogbonnaya Orji, has said. “We have outlined what needs to be done in our policy...

Nigeria Spends Over 99% Revenue On Debt Servicing   Nigeria’s grave fiscal position for the 2022 financial year became clearer, as latest data showed that of N4.26 trillion total revenue available for financing the 2022 budget in the first three quarters of last year, a colossal...

Capital Importation Into Nigeria Fall By 28% In Q1, 2023   National Bureau of Statistics (NBS), yesterday, said total capital importation into Nigeria in Q1 2023 stood at $1,132.65 million, lower than $1,573.14 million recorded in Q1 2022, indicating a 28.00 per cent drop. When compared to...

Nigeria Spent Over N7.8trn On Food Importation In Six Years   Despite being touted as the food basket of Africa, Nigeria has spent over N7.8 trillion in the past six years on food import. The staggering sum, experts say, is a clear demonstration that the Nigerian government...

Consumers Lament As Nigeria Exports N23bn Electricity   Power consumers, on Wednesday, kicked against the export of about N23.13bn worth of electricity from Nigeria to some neighbouring countries in 2022 despite the widespread darkness witnessed in many Nigerian communities. The latest data on the remittances by international...

Nigeria’s Intra-African Trade Drops by 12% to N842.6bn in Q1   Nigeria’s intra-African trade has continued to underperform expectations despite the commencement of the African Continental Free Trade Area (AfCFTA) as the trade value fell Year-on-Year (YoY) to N842.6 billion in the first quarter of 2023...