Nigeria’s external reserves continued its incessant free-fall for the ninth straight day, dropping by $393.8 million. According to data obtained from the website of the Central...
New data from National Oil Spill Detection and Response Agency (NOSDRA) has revealed that 17,262 barrels of oil were spilled into the environment in 2020. Measured...
Active bank accounts linked to Bank Verification Number (BVN) now stood at 47.9 million (47,981,081) as at May 9, 2021 data from the Nigeria Interbank Settlement...
The Central Bank of Nigeria (CBN) has removed the official exchange rate of N379 per dollar from its website. Also, The last time the exchange rate...
In the last seven years, Nigeria’s company income tax has risen by 130.8 percent Ripples Nigeria analysis shows. Data from the National Bureau Of Statistics(NBS) shows...
Ahead of the sallah celebration, Nigeria’s power grid collapsed on Wednesday with total blackout experienced in several parts of the nation. Kaduna Electric and Eko Electricity...
The number of Nigerians fleeing their homes due to conflict and violence is at a record high and now represents over one percent of Nigeria’s population....
In the last nine years, Nigeria has lost at least N2.4 trillion due to poor gas flaring practice of international oil companies and local stakeholders. This...
Starting from tomorrow (Tuesday) riders in Lagos with e-hailing service, Uber Nigeria, will be charged higher fares on its economy option UberX. According to an email...
The Central Bank of Nigeria (CBN) has revealed that Nigeria’s foreign exchange reserves rose by 0.17 percent in the month of April. Data obtained by Ripples...
On Wednesday morning, Oil prices increased to the highest level for over a month propelled by the news of economic and oil demand rebound in the...
The director-general of the Budget Office, Ben Akabueze, has lamented that the federal government of Nigeria spends 75 per cent of its yearly budget on salaries...
The federal government has been called out to explain why 316 duplicated capital projects totaling N39.5 billion were included in the 2021 budget and approved. This...
Monday, May 3, was United Nation’s World Press Freedom Day but for a Nigerian journalist, it is a chilling reminder of threats they face practicing the...
Honeywell Flour Mills has questioned a statement by Godwin Emefiele, Governor of Central Bank of Nigeria (CBN) that it defaulted on its loan from First Bank...
One of the sacked board members of First bank OF Nigeria, Mrs Ibukun Awosika, has taken to social media to react to the Central bank of...
The federal government has given Dangote Cement permission to reduce its tax by N22.32 billion for helping in the construction of some road infrastructure. The Federal...
The Central Bank of Nigeria (CBN) has described First Bank of Nigeria’s new board appointments which includes Gbenga Shobo as Managing Director and Chief Executive Officer...
The Federal Government of Nigeria has revealed that the country in January 2021 recorded N366.53 billion oil revenue. This is a 24.1 percent rise from the...
From north to east, south to west, the Nigerian media was inundated with events of kidnapping, killings, and ethnic clashes. While some of the events occurred...
Nigeria accounted for 14.02 percent of total military spending in Sub-Saharan Africa in 2020. This was contained in the SIPRI Military Expenditure Fact Sheet highlights released...
The Nigerian banking industry recorded a N166.29 billion or 15.69 percent increase in non-performing loans in 2020. The National Bureau of Statistics disclosed this in its...
Despite the Central Bank of Nigeria (CBN) warning against mass retrenchment, the banking sector in 2020 laid off 8,584 employees. The layoff occurred in commercial banks;...
The Central Bank of Nigeria (CBN) has disclosed that total direct remittances to Nigeria in the first three months of 2021 dropped by 75.3 percent. According...
On Wednesday, the senate gave a go-ahead to the Federal government to borrow another $1.5 billion and 995 million euros from World Bank, the Export-Import Bank...
The increase of women in Nigerian prisons has far surpassed the growth of male prisoners in the last 20 years. This is according to data from...
The international oil benchmark, Brent crude, rebounded in the early hours of Tuesday morning, hitting the $67.88 per barrel mark. This is the highest level since...
The depreciation of Nigeria’s Naira has increased the nation’s external debt service in January by about N34.3 billion. According to the monthly economic report for January...
It was mixed fortunes for Nigerian states, as 18 states out of 36 including federal capital territory recorded negative Internal Generated Revenue (IGR) in 2020. This...
For many Nigerian households, the relentless rise in food prices has meant constantly having to make tough decisions monthly, Skip meals or rationalize. This feeding burden...
The Nigerian National Petroleum Corporation has disclosed that the consumption of Premium Motor Spirit (PMS), across Nigeria reduced by about 814 million litres within one month....
The continuous face off between Nigeria National Petroleum Corporation (NNPC), oil companies and host communities came at a huge cost for Nigeria’s oil revenue in 2020....
Due to economic challenges occasioned by the COVID-19 pandemic, Nigeria’s household consumption dropped by N1.6 trillion last year. The National Bureau of Statistics (NBS), which disclosed...
Despite the abundance of water bodies, Nigeria spent N30 billion importing fish into the country in the last quarter of 2020. This is according to data...
Nigeria’s national oil company, the Nigerian National Petroleum Corporation (NNPC), has several subsidiaries, two partly owned subsidiaries and 16 associated companies. Among these subsidiaries are Duke...
Nigerian banks got the most from their employees in 2020, on the back of adopting new technologies. Ripples Nigeria analysis of financial statements of eight commercial...
Despite the Central Bank of Nigeria warning to banks on staff lay-off, eight lenders in the country sacked at least 3,754 workers last year, Ripples Nigeria...
On Tuesday, March 30, 2021, Nigeria’s President Muhammadu Buhari, again, proceeded to London, the United Kingdom, for a routine medical check-up. The latest marks the seventh...
The United Nation has warned that Nigeria and other African countries face severe debt crisis in the wake of the coronavirus crises. According to UN, the...
The salaries of employed Nigerians have been eroded by a weaker Naira and rising inflation, over the last two years, dashing the hopes of a comfortable...
The National Pension Commission (PENCOM) has disclosed that total pension contributions grew by N167.74 billion in the fourth quarter of 2020. The fourth quarter contribution therefore...
The National Bureau of Statistics (NBS) has revealed that 61 percent of Nigeria’s public debt portfolio of N32.92 trillon is domestic. This was revealed in its...
Consumers in the country increased debt owed to Electricity Distribution Companies (DisCos) by 18.38 percent in 2020, data from Nigerian Electricity Regulatory Commission financial report has...
Foreign investors’ appetite for Nigerian equities increased in February 2021, despite fears over dollars scarcity. Details of domestic and foreign portfolio participation in equity trading obtained...
Nigeria’s downstream petroleum sector price regulator, the Petroleum Products Pricing Regulatory Agency (PPPRA) has revealed that Nigeria’s domestic stock of petrol has dropped by 5.45 percent....
According to official figures obtained from the Debt Management Office, the six geopolitical zones of the country currently have a total states domestic debt of N4.18...
It now costs about twice as much as it did in 2015 to prepare meals in Nigeria. According to the last data from National Bureau of...
When news broke that the federal government had issued approval to rehabilitate the Port Harcourt refinery for $1.5 billion (about N570 billion), many Nigerians wondered to...
On Thursday, The Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, disclosed that the nation’s excess crude account (ECA) balance as at March 16,...
A large majority of employed Nigerians may retire without anything to fall back on after retirement, Ripples Nigeria reports. Analysis of data from the National Pension...