Category: Economy

The top 10 poorest states in Nigeria have been curated using the latest data from the Nigerian Living Standards Survey (NLSS) report and the Poverty and Inequality report. Both released by the National Bureau of Statistics (NBS). As a country, Nigeria is privileged to have several mineral resources around its 36 states. The availability of […]

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Would you like to know the oil-producing states in Nigeria? Then, worry no more. We have curated the most comprehensive list of states that produce oil in the country. Nigeria is known to be one of the oil-producing countries in the world. It is not surprising that about 90% of its foreign exchange revenue is […]

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The 2020 Finance Act has its drawbacks, which is primarily caused by the increase in Value Added Tax (VAT) from 5% to 7.5%. For this reason, this article would shed more light on the ripple effects of VAT increase in Nigeria. Previously, we analysed how the 2020 Finance Act would affect your business, and we […]

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How would the Finance Act, 2020 affect my business? What impact would it have on the prices of goods and services? These are questions that the recently signed finance bill have raised. The answers to these questions are provided in this article. Anyway, before we proceed here is a brief preamble. The Nigerian President, President […]

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Update on Naira Devaluation! Naira Devaluation 2020: The Naira took a hit last week, as dollar scarcity crippled the market causing Naira to float between ₦420 to ₦460 per $1 at the black market. The Naira is currently selling at ₦425 per $1 at the black market today. The black market rate remains 16% higher than the official rates which is pegged at ₦360.  20/03/2020: On […]

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