The National Bureau of Statistics (NBS) reported on Monday that the price of Premium Motor Spirit (PMS) also known as petrol surged by 215.95% between July 2022 and July this year. The statistics agency, in its latest ‘Premium Motor Spirit Price Watch’ report for July this year indicated that while Nigerians paid N190.01 per litre […]
The Centre for the Promotion of Private Enterprise (CPPE), one of the leading organized private sector advocacy groups in Nigeria, has advocated some policy options the Federal Government should urgently explore to combat the growing constraints hampering business operations and improved performance of the nation’s economy. A statement issued by the Director/CEO of the group, […]
….as oil production declines 13.6% With fuel consumption rate by consumers continue to plummet by the day following adjustments of their travel schedules occasioned by the fuel subsidy regime, data on petroleum products importation indicated that Nigeria’s fuel imports fell to 106,000 barrels per day (bpd) in July 2023. The drop in volume as reflected […]
Nigeria’s Consumer Price Index (CPI), which is used to measure the level of inflation in rhe nation’s economy, surged to 24.08% in the month of July this year, representing a 129 basis-point increase compared to 22.79% recorded in the previous month. According to the latest in the Consumer Price Index (CPI) report published on Tuesday […]
…. as industry’s contribution to GDP rises to 13.55% The Nigerian Communications Commission (NCC) has reported that Nigerian telecommunications industry’s domestic investment rose to 785,771,028,960.36 as at the end of December 2022. The just published ‘2022 Subscriber/Network Data Annual Report’ by the industry regulator showed that despite the huge investments to enhance their operations, the […]
…..as intercity transport fares surge by 55.25% Food consumers in Nigeria paid an average of 30% increase for food items in June this year when compared to what they paid for the commodities in the corresponding period of last year, the National Bureau of Statistics (NBS) has reported. The statistics agency, which gave this […]
The Central Bank of Nigeria (CBN) has released its Consolidated Financial Statements for the past seven years spanning 2016-2022 financial years as the National Assembly, civil society organizations’ (CSOs) and stakeholders’ agitations for the apex bank to comply with the nation’s financial reporting guidelines remained unabated. The Consolidated Financial Statements showed that in the 2022 […]
The Chairman of the Presidential Committee on Tax Policy and Fiscal Reforms, Mr. Taiwo Oyedele, on Wednesday hinted that the Federal Government was making efforts to ensure that all federal taxes collected by the Federal Inland Revenue Service (FIRS) in furtherance of its current drives to improve the efficiency of tax administration in the country. […]
The Nigeria Deposit Insurance Corporation (NDIC) has commenced the sale of assets belonging to 183 liquidated financial institutions to pay depositors following the revocation of their licences by the Central Bank of Nigeria (CBN). The Corporation stated that the assets of the assets on the 179 Microfinance Banks (MfBs) and the four Primary Mortgage Banks […]
……as 255,726 Nigerians in Diaspora get NIN The National Bureau of Statistics (NBS) has reported that the registrations and NIN issued by the National Identity Management Commission (NIMC) in 2022 totalled 22,492,748 in 2022, comprising 12,643,563 males and 9,849,185 females. The statistics agency gave these figures in its ‘National Identity Registration Statistics 2022’ published on […]