Business

Electricity distribution companies’ customer registration exercise has been stagnant at 10 million for the past two years. The Association of Nigerian Electricity Distributors indicated that the 10 million registered customers and 47 per cent metered power users were recorded as of the fourth quarter 2021.

The Nigerian exchange lost N41.46 billion in capitalization on Wednesday. The All-share Index lost 0.14% from 53,270.88 basis points to close at 53,193.98 basis point. The Market Capitalization also lost 0.14% to close at N28.68 trillion. Year-to-Date.

Capital importation into Nigeria’s agriculture sector fell by 99.23 per cent from $237.83m in the fourth quarter of 2021 to $1.76m in the first quarter of 2022. This was contained in the Nigerian Capital Importation report for Q1 2022 released by the National Bureau of Statistics. The report revealed that there was a 99.23 per cent decline within three months.

Nigeria’s import from China rose by 183.91 per cent from N530.98billionn in the first quarter of 2018 to N1.51trillion in Q1 2022. According to the National Bureau of Statistics, China is responsible for most of the imports into Nigeria.

The Debt Management Office, DMO, has said Nigeria’s total public debt stock increased to N41.60trillion in the first quarter of 2022 from N39.56trillion as of December 2021. According to DMO, this shows an increase of N2.04trillion within a period of three months. It added that the public debt stock covers the total domestic and external debt of the Federal Government and state governments and the Federal Capital Territory.

The price of cooking gas recorded an increase in the month of June 2022 compared to May 2022. Speaking with Boss Radio Business report, a dealer of gas Emmanuel Obi, says the price increased from N700 in May to N755 in June. A consumer, Chidera Ogugor, who spoke in vernacular, urges the government to intervene. Emeka Ofor has this to say!  

Nigeria’s crude oil exports jumped to N5.6trillion in the first quarter of 2022. According to the National Bureau of Statistics, Nigeria’s total merchandise trade stood at N13 trillion in the first quarter of 2022, indicating an increase of 11.05 per cent over the value recorded in the fourth quarter of 2021 and 65.41 per cent higher when compared to the value recorded in the first quarter of 2021.

Nigeria imported arms and ammunition worth N4.89 billion in the first quarter of 2022. According to reports, this represents an 86.8% decrease when compared to the N37.09 billion spent in the corresponding period of the previous year. The N4.89 billion recorded in Q1 2022 also represents a 47.5% decrease compared to N9.32 billion spent in the previous quarter.