Business

The Price of Egg has recorded an increase in various Markets in Owerri, Imo State. In an interview with Boss Radio Business Team, an Egg Vendor, Lilian Osunwoke, speaks on the price of a Crate of Egg. Osunwoke blames the increase on rise of dollar. Victor Matthew adds that the increase is as a result of high cost of Feed.

Fish, Poultry Eggs, Milk, Dairy and Fish Products worth $3.49billion were imported into Nigeria in the last two years. According to data from the International Trade Centre, within the time under review, Fish Products worth $2.14billion were imported into the Nation, while Diary Products valued at $1.35billion were brought into the Country.

The Federal Government received N1.09trillion from indirect taxes in the first two quarters of 2022. According to data from the National Bureau of Statistics, this represents a 10.29 per cent increase from N984.33billion obtained in the first two quarters of 2021. The Nation’s GDP grew by 3.54 per cent in real terms in the second quarter of 2022.  

The National Bureau of Statistics, NBS, says Nigeria’s Gross Domestic Product, GDP, grew by 3.54 per cent in the second quarter of 2022 on a year-on-year basis. This was contained in a statement issued by the Chief Executive Officer of NBS, Semiu Adeniran, ON Friday in Abuja. Semiu said in nominal terms, aggregate GDP stood at N45 trillion in the second quarter of 2022.

The price of frozen chicken has recorded an increase in the popular Ekeonuwa market Owerri. A dealer of frozen chicken, Victor Matthew, speaks on the price of the commodity per carton and kilo. Matthew highlights the major challenge for frozen chicken vendors. He adds that customers complain about the price inflation

Nigeria’s Debt Management Office, DMO, has revealed that a strong and comparable revenue base will reduce the need for relatively large amounts of new borrowing. Director-General of the DMO, Patience Oniha, made this know in an interview with newsmen on Wednesday. Oniha noted that Nigeria needs to earn higher revenue and manage its debt profile more efficiently to further reduce borrowings.

Following the inflation in the prices of cooking gas and kerosene, charcoal has recorded an increase in the popular Eke Ukwu Owerri market. Speaking with Boss Radio correspondent, Onyinyechi Okoro, a major distributor of Charcoal, says a bag was sold at N3500 as at last year. Okoro blames the increase on the manufacturing process. Another seller, Favour Opara, outlines some factors contributing to the increase in price of charcoal.

The trade between Nigeria and India is worth $15 billion and has the potential to reach $40 billion. This was disclosed by the President of the Nigeria-India Business Council, NIBC, V. Sharma, during the launch of the Council, which was inaugurated by Vice President, Yemi Osinbajo. According to the Federal government, NIBC will be a vehicle to strengthen partnerships and facilitate business actions between the business communities of both Countries.

Investors lost N158billion at the end of trading on the floor of the Nigerian Exchange Limited last week. The All-Share Index and Market Capitalization depreciated by 0.59 per cent to close the week at 49,370.62 and N26.629trillion respectively. According to the NGX, 21 equities appreciated in price during the week, lower than 33 equities in the previous week.