Cumulative expenditure on alternative energy sources in the manufacturing sector stood at $184.73 million (N77.22 billion) last year as against N81.91 billion recorded the previous year.
 
The decline in expenditure on alternative energy sources last year was ascribed to the marginal improvement in the national electricity supply over the period. The figures were contained in the Manufacturers Association of Nigeria’s (MAN) ‘Second Half Economic Review 2021’ (July-December 2021) released at the weekend…
 
More details through:
https://thenationonlineng.net/manufacturers-spend-n77-22b-on-alternative-energy/

Mobile internet users in Nigeria are expected to rise to 54.29 per cent in 2023, 56.44 per cent in 2024, 58.21 per cent in 2025 and 59.7 per cent in 2026 as projected in the data released by Statista.
 
The data shows that mobile phone users across all ages access the internet via mobile phones (browser or app) at least once in a month. In the first quarter of 2022, the number of mobile internet users was pegged at 51.59 per cent of the nation’s population.
 
The telcoms companies have been driving broadband penetration through their 4G service across the country, while awaiting the deployment of 5G. It is believed that the deployment of 5G would further expand the broadband penetration to the nooks and crannies of the country…
 
More details through:
https://www.newtelegraphng.com/nigerias-mobile-internet-users-to-hit-59-7-by-2026

Nigeria spent N1.22tn on consumer goods imports in 2021, according to the Foreign Trade Statistics of the National Bureau of Statistics. This was a 109.25 per cent increase from the N584.41bn spent on importing consumer goods in 2018. The consumer goods imported into the country are categorised into durable, semi-durable and non-durable…
 
More details through:
https://punchng.com/consumer-goods-imports-rise-by-109-25-amid-dollar-shortage/

Data from Original Equipment Manufacturers (OEMs) has suggested that approximately 63 million devices are sold each year in Nigeria. It was also revealed that there were approximately 132 million unique devices on the telecommunications network in 2020, just as estimates further revealed that an average device owner changes devices every six to 18 months.
 
The Project Information Memorandum (PIM) for the deployment of a Device Management System (DMS), sighted by The Guardian, dated April 2022 and submitted to the Nigerian Communications Commission (NCC) by Weircapacity Consortium, the project Transaction Adviser on the DMS project revealed this…
 
More details through:
https://guardian.ng/business-services/63m-devices-sold-in-nigeria-yearly-as-users-change-devices-every-18-months/

Nigerians with access to fast Internet have grown by 108.39 per cent in four years, according to data from the Nigerian Communications Commission.
 
The commission’s portal revealed that broadband penetration increased from 38.72 million (20.28 per cent) in March 2018 to 80.68 million (42.27 per cent) in March 2022. According to the ‘Nigerian National Broadband Plan (2020 – 2025),’ broadband commonly refers to high-speed Internet connection…
 
More details through:
https://punchng.com/nigerias-internet-population-grows-by-108-39-now-80-68-million/

The African Development Bank (AfDB) has forecasted Nigeria’s economy to grow by an average of 3.2 percent in two years despite suffering from the impact of the Russian-Ukraine war.
 
This was disclosed by AfDB in its African Economic Outlook 2022, released at the ongoing annual general meeting (AGM) of the bank in Accra, Ghana...
 
More details through:
https://businessday.ng/business-economy/article/nigerias-economy-to-grow-average-of-3-2-till-2023-afdb/
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About 63 million technology devices are sold in Nigeria every year, according to data from Original Equipment Manufacturers.
 
The estimates suggest that device owners change their devices every six to 18 months. This was disclosed in the National Communications Commission’s, ‘Deployment of a Device Management System: Project Information Memorandum.’
 
The commission said, “Data from OEMs suggests that approximately 63 million devices are sold each year in Nigeria. Estimates suggest that the average device owner changes devices every six to 18 months…
 
More details through:
https://punchng.com/63-million-technology-devices-sold-in-nigeria-annually-ncc-report/
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Nigeria Sovereign Investment Authority (NSIA) says it has signed a deal with OCP Group, a Moroccan company, to build a fertiliser plant.
 
Uche Orji, managing director and chief executive officer (CEO), NSIA, said this on Thursday at a press briefing on the presidential fertiliser initiative (FPI) in Abuja. OCP Group is a Moroccan state-owned phosphate rock miner, phosphoric acid manufacturer, and fertilizer producer…
 
More details through:
https://www.thecable.ng/nigeria-morocco-sign-deal-to-build-fertiliser-plant-in-akwa-ibom

Importation of durum or pasta wheat into Nigeria has continued to skyrocket, rising from $1.75 billion (N730.9 billion) in 2020 to $3 billion (N1.295 trillion) in 2021.
 
The Punch’s calculations from the National Bureau of Statistics Foreign Trade Statistics showed that wheat importation into Africa’s most populous nation rose 77.23 per cent from 2020 to 2021. Wheat is an important commodity which serves as flour in the production of pasta, bread, noodles, among others…
 
More details through:
https://punchng.com/naira-devaluation-insecurity-drive-nigerias-wheat-imports-to-n1-3tn/

Nigeria’s agriculture sector grew by 3.16% (year-on-year) in real terms in the first quarter of 2022, a decrease of 0.42% points from the preceding quarter which recorded a growth rate of 3.58%.
 
The sector grew by 11.55% year-on-year in nominal terms in Q1 2022, showing a fall of 3.59% points from the same quarter of 2021 and contributed 22.36% to overall GDP in real terms in Q1 2022, higher than the contribution in the first quarter of 2021 and lower than the fourth quarter of 2021 which stood at 22.35% and 26.84%. This was disclosed in the Q1 2022 GDP report released by the National Bureau of Statistics (NBS)...
 
More details through:
https://independent.ng/gdp-nigerias-agriculture-sector-records-growth-of-3-16-in-q1-2022/