A so Rocky Christmas: Buhari’s Ricey Yearnings, Pricey Year, and a Dicey Yuletide
This Christmas could be the last Muhammadu Buhari will celebrate in Aso Rock as a President if he does not run for Nigeria’s highest office in 2031.
Category
Economy
Want to Share Love this Yuletide? Try Food, as Six Out of 10 Nigerians Are Experiencing Food Insecurity
According to a survey by the Food and Agriculture Organisation (FAO), six out of 10 Nigerians are experiencing food insecurity. Plagued by rising food inflation and insecurity in several agrarian communities across the country, food has become an expensive elusive resource for most Nigerians.
As Food Prices Continue to Rise, Nigerians are Poorer and Hungrier
As the curtains begin their descent on 2022, food, a basic need for human existence, is increasingly out of reach for more Nigerians. The prices of staples like yam, maize, rice, and fish have continued to rise.
Poorer Power to the People: Nigeria’s Politics of Population, Presumption and Privation (1)
As the economic fortunes and living standards of Nigerians decline by the day, with 133 of their country’s 211 million population poor, many are forced to leave the country.
#DailyDataCard: Nigeria’s Gross Domestic Product (GDP) Q3 2022
#DailyDataCard: Nigeria’s Gross Domestic Product (GDP) Q3 2022
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Nigeria recorded Highest Food Prices in 4 Months this April
The prices of food items in Nigeria has gone up again for the second consecutive month. This was revealed by the National Bureau of Statistics (NBS) in its release of the food price index for April 2022.
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No “Cheaper Alternative” Options as all Foods Become Equal in Nigeria’s Markets
Why? The price of everything has skyrocketed so much so that even alternative food options are now out of reach. Inflation stands at 15.92% as of March 2022 while food inflation has been on the rise since 2019 and stands at 17.20% today.
Nigeria’s Total Private Wealth Declines by 27% in 10 Years
This retarded growth was attributed to factors such as the ease of doing business, the rate of taxes charged on businesses, social and political safety, and the growth of financial services.
The Jollof Index Warns More Nigerians May Face Food Crisis
The average cost of making a pot of Jollof Rice, for a family of five went up from N8007.50 in Q3 2021 to N8595 at the end of Q1, 2022.
Increasing Food Inflation puts 19.4 Million Nigerians on the Verge of a Food Crisis
‘The prices of onions, beef, and turkey have all gone up from what I expected from my last visit,’ Mrs Joy lamented. ‘Now I have to cut off some other expenses to release some cash to buy these ingredients for the Jollof,’ she concluded.
Does Increasing Debt Burdens Mean Increasing Fiscal Risks for Nigeria?
Debt or funds borrowed by the Nigerian government augment revenue generated and provide a fiscal balance for the country to meet its obligations.
Nigeria’s New Subsidy bill is 74% of its 2022 Capital Expenditure Budget
On the 7th of April, Nigeria’s President, Muhammadu Buhari, noted that the country would need up to four trillion naira for 2022 subsidy payment, up from the earlier projected N3 trillion. This development was blamed on rising oil prices amid high global demand.
Is Nigeria Optimising its VAT Revenue?
Value Added Tax (VAT) has grown to be a major source of revenue for most countries.
Is Personal Income Tax yet Another one of Nigeria’s Unmined Resources?
Personal Income Tax (PIT) revenue in Nigeria has remained low and is very insignificant when compared to the country’s Gross Domestic Product (GDP). The PIT-to-GDP ratio of the country, over the last decade, has been less than one percent.
Nigeria’s Capital Importation Increased by 26.4% in Q4 2021
Q4 2021 recorded the highest value for capital importation for the year as the country’s inflow increased to $2.19 billion. The total capital importation value into Nigeria for Q4 2021 at $2.19 billion made up 32.6% of the total capital importation value of the year.