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Daily Business News Brief | Friday, May 13th, 2022.


Agric imports hit N2.7tn despite N129bn intervention loans – Punch

Despite spending no less than N129.084bn on agriculture loans to farmers, Nigeria’s agricultural imports continued to take an upward trajectory, hitting N2.7tn in 2021 alone.  According to findings by our correspondent, the Central Bank of Nigeria and the Federal Government, through the Agricultural Credit Guarantee Scheme Fund (ACGSF), has guaranteed a total of N129.084bn in agriculture loans to farmers in the country…………………read more

Inadequate database threatens SIM-NIN registration, NIMC admits deficit – Thisday

Telecommunication consumers are lamenting the decision of the Federal Government to implement the National Identification Number-Subscriber Identity Module policy after the Nigeria Identity Management Commission disclosed that its infrastructure can accommodate only 100 million Nigerians. The consumers under the aegis of the National Association of Telecoms Subscribers were reacting to comments by the Director-General of the National Identity Management Commission, Aliyu Aziz.  According to the DG, the commission’s database is at 80 per cent of its capacity with over 80 million unique NINs issued………..read more

Again, naira depreciates against dollar at N420 – Daily Independent

The naira, on Thursday, depreciated further at the Investors and Exporters Window, exchanging at N420 to the dollar, a 0.30 per cent depreciation, weaker than N418.75 traded on Wednesday. The open indicative rate closed at N416.50 to the dollar on Thursday. An exchange rate of N444.00 to the dollar was the highest rate recorded within the day’s trading before it settled at N420……………. read more

Nigerians’ spending on household consumption rises to N108tn – NBS – Thisday

The National Bureau of Statistics has said that Nigerian residents spent N108.47tn on household consumption in 2021 in nominal terms. The figure is higher than the N97.72tn recorded in 2020, showing an increase of 11 per cent amid double-digit inflation. The NBS disclosed this in its recent Expenditure and Income Gross Domestic Product report released on Wednesday……………read more

MTN Nigeria Rewards Shareholders with N174.53bn Dividend – Punch

The MTN Nigeria has set aside N174.53 billion as dividend to its shareholders whose names appeared in the Company’s Register of Members at the close of business on Wednesday, April 6, 2022, which translates to N8.57 Kobo per every two kobo ordinary share. …. …………..read more

Telecom Subscriptions Up Slightly in One Year to Reach 198.1M with 103.79% Teledensity in February – Thisday

The latest statistics released by the Nigerian Communications Commission (NCC), has revealed a minimal growth in telecom subscriptions in the country in one year. According to the NCC data, the subscriptions figures across networks increased slightly from 192.4 million in March 2021, with a teledensity of 100.80 per cent, to 198.1 million in February 2022, with a teledensity of 103.79 per cent………………read more

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