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...
Nigeria’s Economic Growth Too Slow To Reduce Poverty - World Bank
The World Bank, yesterday, warned that Nigeria’s economic growth is too slow to address the challenge of extreme poverty in the country.
Meanwhile, the bank has retained its economic growth (Gross Domestic Product, GDP) forecast...
