Manufactured imports rise to N40.94tn, Nigeria exports N4tn goods

Between January 2017 and March 2021, Nigeria spent N40.94tn on the importation of manufactured goods. It earned only N4.22tn on the export of manufactured goods within the same period. These are according to data obtained from the Foreign Trade report of the National Bureau of Statistics. In the review period, total value of imports was N66.43tn and total value of exports was N67.30tn. Manufactured goods …

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Revealed! N288bn COVID-19 Relief Fund: How govt, MDAs scammed us – SME owners

SMEs shortchanged during disbursement as politicians hijack palliatives More than 100 million Nigerians sink into poverty – NBS/World Bank Folashade Adejobi owns a Small and Medium-sized Enterprise (SME) running a catering service in Lagos state. Her business, however, suffered badly during the lockdown triggered by the COVID-19 pandemic. All the companies she serviced shut down, except one. The only one that weathered the COVID-19 contraction …

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2021 Budget: Buhari seeks fresh N2.3trillion loan as country Groans Under Heavy Debt

By Ogechi Okorie Abuja (Precise Post) – President Muhammadu Buhari, on Tuesday, urged the Senate to approve a new external loan of N2,343,387,942,848.00, about $6.183 billion. The President seeks the fresh loan for the Federal Government to finance the 2021 budget deficit. Under Buhari, Nigeria’s debt profile has continued to increase. Nigeria’s debt public debt hit a total of N31.01 trillion at the end of …

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Nigeria IGR decreases by 1.93 per cent to N1.31tr in 2020

The National Bureau of Statistics (NBS) at the weekend announced that the 36 States of the Federation and the Federal Capital Territory (FCT) Internally Generated Revenue (IGR) dipped by 1.93 per cent from N1.33 trillion to N1.31 trillion in fourth quarter (Q4) 2020. It was a negative growth, according to the Bureau in its data titled “Internally Generated Revenue at State Level (Q4 & fully …

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Revisit Your Policy On Cryptocurrency; We Need To Open Up Our Economy, Not Close It -Atiku to FG

…..As Ezekwesili Slams CBN For Not Learning From Brilliant Nigerian Young Minds In FinTech By Chris Udochukwu Abuja (Precise Post) – The Presidential candidate of the Peoples Democratic Party in the 2019 presidential election and former Vice President, Atiku Abubakar has urged the federal government to revisit his policy that prohibits transactions on cryptocurrency, stressing that what Nigeria needs now, more than ever, are jobs …

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How NIS Rescued 40 Human Traffic Victims, Arrested 10 Offenders in Oyo

By Ogechi Okorie Ibadan (Precise Post) – The Nigeria Immigration Service (NIS) generated N39.06 billion in 2018 as against N35.72 billion it generated as local revenue in 2017, the National Bureau of Statistics (NBS) said. The Nigeria Immigration Service (NIS), Oyo State Command, has rescued 40 human traffic victims and arrested 10 trafficking offenders in year 2020. The NIS Comptroller in the state, Usman Babangida, …

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Nigeria Will Exit Recession Soon – Finance Minister, Zainab Ahmed Reveals

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has stated the current recession faced by the country at the moment will only last for a short period of time. Ahmed said this on Monday at the ongoing 26th Nigerian Economic Summit organised by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, and National Planning. She said the country would …

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NBS Says Nigeria’s 2019 Total Trade Stands At N36.1trn

By Folasade Akpan Abuja (Precise Post) – Nigeria recorded N36.152 trillion as value of total trade in 2019, representing a 14.05 per cent increase over 2018, the National Bureau of Statistics (NBS) reported. The bureau said this in its “Foreign Trade in Goods Statistics, Quarter Four, 2019”, released on Friday in Abuja. However, this was lower than 36.86 per cent recorded in 2018 over 2017. …

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