December 14, 2021/United Capital Report Last week, the National Bureau of Statistics (NBS) released a report on Mineral Production Statistics for 2019 and 2020. According to the report, solid mineral production climbed by 18.0% y/y in 2020, totaling 64.3mmt, up from 54.5mmt in 2019. Kogi, Ogun, and Cross River States […]

December 14, 2021/Proshare by FBNQuest Research   The NBS’s most recent quarterly series on revenue from VAT collection shows that total collections were up by 18% y/y to over NGN500bn. On a 9M ’21 basis, gross VAT collections totalled NGN1.5trn or an increase of  c.40% compared with NGN1.1trn in  9M ’20. […]

December 14, 2021/Fitch Ratings Fitch Ratings says the sector outlook for African banks in 2022 is neutral, with uncertain business conditions and Covid-19 risk constraining recovery. We anticipate a slightly faster rise in lending with most economies growing at the trend rate and banks gradually loosening stricter/pandemic-era underwriting standards. Our […]