May 31st, 2020 COVID19

COVID-19, Virtual Learning, and Nigeria’s Underserved School Children

Due to COVID-19 pandemic, 60 percent of the world’s children cannot access education. The percentage might even be higher in Nigeria; before the pandemic, over 13 million school-age children in Nigeria were out of school. The current education access among Nigerian school children during the pandemic remains unknown. However, available data on poverty as well as the lopsided nature of the government’s education policy do not suggest a positive outlook.

May 31st, 2020 Budget

Legislatures to the Rescue: With 55% Cut in Education, 42% in Health, The Executive Misplaced Development Priorities

A review of the Revised 2020 Budget exclusively obtained by DATAPHYTE indicates that the Federal Government has reduced the total budget size by only ₦84.71 billion. Against the background that the government initially proposed a ₦1.5 trillion budget cut (over 14 percent reduction of the total budget size), the new cut is low.

May 27th, 2020 Budget

610 Personnel Earn More Than the President as DPR Paid ₦8 Billion Salary Upfront in January

Data analysis by Dataphyte has shown the Department of Petroleum Resources (DPR) paid over 8 billion as salary upfront in January 2020. This is according to the daily payment data published on the open treasury portal.

May 26th, 2020 Oil and Gas

NNPC’s Overheads Signal Increase As Nigeria Battles Oil Revenue Crisis

The Nigeria National Petroleum Corporation (NNPC) recently announced the resumption of 1,000 graduate trainees. While the new hires resumed virtually, this signals increased overheads for the state-owned enterprise. With refineries that have not made profits in the last eight years, it is argued that many NNPC staff are earning salaries without doing anything. By implication, the new hires may end up having little or nothing to do and thus keep up with the existing redundancy at the NNPC.

May 22nd, 2020 Economy

Matching Nigeria’s Development Aspirations with its Expenditure Realities

In the last couple of years, the Nigerian government has described its budget in manners that suggest high aspirations for growth and development. In 2016 for instance, the budget carried a theme of change. Similarly, the 2018 budget was described as a budget of consolidation.

May 15th, 2020 Budget

Where FG Can Get ₦304 Billion of the Proposed ₦1.5 Trillion Cut

The Federal Government has announced its decision to downsize the 2020 budget by ₦1.5tn. Yet, there is no public information on the budget items that make up the amount. Though budget cut is a reasonable decision, experts say the government must exercise caution. That the implementation must secure critical sectors such as education and health

April 24th, 2020 COVID19

Where Really Are Small Businesses In Government’s COVID-19 Relief?

About a fortnight ago a correspondence from the Federal Inland Revenue Services (FIRS) notified business owners on the modalities for payment of monthly tax returns (VAT). The correspondence directed that due to the COVID-19 lockdown, business owners should utilize the e-payment platform for tax payment. Also, in compliance to social distancing measures, business owners were directed to send a copy of the electronically generated bank invoice to a designated e-mail address against the usual physical submission of payment evidence to the tax office. However, many business owners consider the absence of tax breaks, an additional burden associated with the pandemic.

April 23rd, 2020 Oil and Gas

Zero Subsidy and Diversification As Oil Price Drops Further

Earlier this week, news of a fall in oil price below $0 per barrel made wave across the world. However, against the wide misconception on its meaning and implications particularly to the distressed Nigerian economy is the truth that the slump in the US crude oil futures below $0 per barrel does not reflect the reality in the global oil market but is a mere drop in US crude oil price by the New York Mercantile Exchange (NYMEX).

April 15th, 2020 COVID19

COVID19: President Buhari’s Address and the Unanswered Questions

Many Nigerians looked forward to the April 13 presidential address hoping to get answers to concerns during the lockdown. The reassurance of the head of government means a lot to the already distressed citizenry battling series of assaults since the forced closure on the 30th of March.

April 9th, 2020 COVID19

While COVID-19 Claimed Six, Nigerian Security Operatives Have Killed 13 Enforcing Lockdown

Various lockdown directives by the federal and state governments in Nigeria have resulted in undesired violent incidences questioning the footing of restriction measure in the country.

April 8th, 2020 COVID19

COVID-19: What ₦37.7 Billion Frivolous Budget Spend Can Do

With the COVID 19 pandemic, communities and economies across the world are facing unprecedented challenges. The crises taking a toll on the society is reportedly devastating the poor and the vulnerable. Moreso, the pandemic is predicted to impacts on children globally.

April 4th, 2020 Budget

2020 Budget: Repurposing ₦37.7 Billion Frivolous Items for Economic Emergency

Nigeria’s fiscals for 2020 has been confronted with a plethora of challenges from the onset of the budget cycle. As at when the 2020 appropriation bill was passed, the country had a budget deficit of ₦2.175 trillion. Fluctuations and crashes in the price of Brent crude together with the COVID 19 pandemic plunged the country into another financial crisis. To absorb the effect of the various financial assaults on the country, the 2020 budget was downsized by ₦1.5 trillion in March 2020.

March 30th, 2020 COVID19

COVID19: The Employment Dimension in Nigeria

On the global world of work, the COVID 19 pandemic is believed to have far-reaching effects which may push many people into unemployment, underemployment, and poverty. Globally, the International Labour Organization projects that about 25 million jobs could be lost due to the COVID 19 pandemic. In the United States, the Wall Street Journal estimated a possible 5 million job loss. Already, about 3.3 million Americans have filed for unemployment and experts are suggesting that this is the worse unemployment spike in America. In China, about 5 million people reportedly lost their jobs between January and February due to the corona virus outbreak.

March 25th, 2020 COVID19

Water, Food and Power: Essentials for Total Lockdown

As the reality of COVID19 resonates in Nigeria, a complete lockdown of the country is looming. Few days back, the wife of the president called for a total lockdown of the country due to the outbreak. In Lagos State, strict measures, including complete lockdown of markets and other social spaces, have been adopted to contain the pandemic.

March 24th, 2020 COVID19

#COVID19: The Implication for 60 million Unbanked Nigerians

At such a time when the novel coronavirus is shredding the fabrics of the Nigerian society and creating huge tons of panic across the country, the Biblical account of a group of lepers who were caught in an Israeli famine is very relatable. From the account, the group, who were in a quarantine situation, were in a dilemma as to whether they should starve to death or die by the swords of ‘quarantine’ enforcers. As they battled the dilemma, a tiny voice suggested their common fate; whether they remained in the isolation colony, or journeyed to the city in search of survival, they were bound to die!