Category: Economy
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How Nigeria’s digital economy grew by double digits at peak of Covid-19
The Nigerian Government says the digital economy sector currently contributes over 18 per cent to the country’s Gross Domestic Product (GDP), and has become the fastest growing sector in the nation’s economy. According to the Organisation for Economic Co-operation and Development (OECD), a digital economy is one which incorporates all economic activities reliant on or…
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Untold hardship as prices of food continue to soar in Nigeria
The National Bureau of Statistics (NBS) has released the Selected Food Prices Watch Report for August as the hardship in Nigeria continues to bite harder.
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Price of cooking gas skyrockets by 101 per cent
The average price of 5kg cooking gas increased from N4,397.68 in July to N4,456.56 in August. The assertion was made by the National Bureau of Statistics (NBS), in its Cooking Gas Price Watch issued on Tuesday in Abuja.
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We do not grant waivers to taxpayers – FIRS
The Executive Chairman, Federal Inland Revenue Service (FIRS), Muhammad Nami says the mandate of the service is to collect taxes due to the federation and the Federal Government. Nami, in a statement issued in Abuja by his Special Assistant on Media and Communication, Johannes Wojuola, said that FIRS did not grant tax waivers to any…
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Nigeria’s woes compound as public debt stock hits N42 trillion
The Debt Management Office (DMO) said Nigeria’s total public debt stock, which was N41.60 trillion (100.07 billion dollars) in March rose to N42.84 trillion (103.31 billion dollars) by June.
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10 Advantages of Betting in Nigeria
Bookmakers invest a lot of money in business and advertising in Nigeria. According to recent forecasts, the booming upsurge of sports wagering won’t stop in the coming years. Actually, the number of Nigerian punters could increase by 18% by 2025. Considering the flourishing state of the betting industry, we aim to briefly go through the…
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TNG Special Report: Nigeria seeks easy way out of N41. 6 trillion debt burden, plans to borrow more
The Nigerian government has proposed a Debt-For-Climate (DFC) Swap deal, as an easy option out for its mounting public debt which peaked at N41.6 trillion in the first quarter of 2022. The DFC swap is believed to have the potential of becoming a useful instrument to expand the fiscal space for underfunded climate investments. This…
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CBN makes strong case for economic diversification
The Director of Trade and Exchange Department, Central Bank of Nigeria (CBN), Dr Ozoemena Nnaji has said there is an urgent need to diversify the Nigerian economy to spur growth.
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ICT sector contributes 18.44% to Nigeria’s GDP
The National Bureau of Statistics (NBS) has disclosed that the Information and Communication Technology (ICT) sector of the Nigerian economy contributed 18.44 per cent to the nation’s Gross Domestic Product (GDP) for Q2 2022.
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CBN unveils eNaira USSD code
The Central Bank of Nigeria (CBN) has unveiled the Unstructured Supplementary Service Data (USSD) for its eNaira to enhance financial inclusion in the country. The CBN Governor, GodwinEmefiele said this during the inauguration of the USSD transaction code at a 5-day Northern eNaira fair, Kano 2022.