January 29, 2024/CBN In its determination to address the backlog of verified foreign exchange transactions, the Central Bank of Nigeria (CBN) has released US$500 million to various sectors. This comes barely a week after the Bank paid approximately US $2.0 billion to settle outstanding commitments across manufacturing, aviation, and petroleum sectors. The […]
OPINION/EDITORIAL
A Marked Rise in Railway Transport Revenue; Increased by 45% QoQ to N1.9bn in Q3 2023
January 29, 2024/FBNQuest Research According to the most recent report from the National Bureau of Statistics (NBS) on railway transportation, the total revenue generated from railway traffic increased by +45% q/q to NGN1.9bn in Q3 ’23. On a y/y basis, the sub-sector’s revenue growth more than doubled. It is worth […]
Gross Federally Collected Revenue Increased by 28% YoY in Q3 2023
January 26, 2024/FBNQuest Research The most recent quarterly economic report from the Central Bank of Nigeria (CBN) on the federation’s revenue shows that the gross federally collected revenue increased by 50% q/q and 26% y/y to NGN4.8trn in Q3 ’23. Despite the higher revenue collections, total government receipts still fell […]
