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ECONOMY
The Federal Government said it has made a payment exceeding $120 million from the $1.3 billion due to gas suppliers, in a bid to stimulate gas production in the country.
The Electricity Company of Ghana (ECG), a government-operated power provider, on Thursday temporarily disconnected electricity to the parliamentary complex to compel the legislative body to settle an outstanding debt of 23 million Ghanaian cedis (approximately $1.8 million).
Nigeria has successfully maintained its status as Africa's largest economy, according to data available for the second quarter of 2023.
While the monetary authority holds that the move is intended to rein in inflation, economists believe it will boomerang on the economy.
The situation has been further compounded by the shocks and disruptions inflicted by the Russian invasion of Ukraine and the lingering effects of the Covid-19 pandemic
Investment opportunities in a high-interest rate environment.
Nigeria's inflation rate dropped for the third consecutive month in June 2021
Foreign portfolio investments into Nigeria recorded a 77.4% year-on-year decline in Q1 2021 to stand at $974.1 million.
Naira fell against the US dollar on Thursday as crude oil prices endure further decline.
The 36 states and the Federal Capital, generated a sum of N1.31 trillion as Internally generated revenue (IGR) in 2020
The average cost of making a pot of jollof rice in Nigeria rose by 7.8% between March 2020 and March 2021.
The exchange rate between the naira and the US dollar closed at N410.5/$1 at the Investors and Exporters window.