FAAC: Nigerian government augments revenue disbursements with N120 billion in seven months
A total sum of N120 billion was spent by the Nigerian government to augment FAAC revenue shortfalls between January and July 2021.
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Latest Reports
Lawful Interception: NASS Approves N7.46 bn for DIA to Intercept Voice Calls and Internet communications of Nigerians
The approved supplementary budget of 7.46 billion Naira is for a purported “independent lawful interception platform – voice and advanced data monitoring”.
INFOGRAPHICS: What the Diverted $5 Billion NLNG Dividends Can Do
INFOGRAPHICS: What the Diverted $5 Billion NLNG Dividends Can Do
Tracking Nigeria’s politico-economic crisis, Twitter and tighter civic spaces, and lessons from the rice and rise of Ghana
A trend analysis of Nigeria’s Gross Domestic Product (GDP) measured in constant prices shows that the country’s domestic output has been declining since 2010, after the Musa Yar’adua administration, while inflation has been rising lately.
INVESTIGATION: How corrupt officials make millions daily at Nigeria’s prominent marriage registry
While the federal government reduced the fees for registering marriages in Nigeria, corrupt officials of marriage registries have continued to extort prospective couples by charging above the official rate – diverting millions of naira into their personal bank accounts, and shortchanging the federal government. This investigation looks at the corrupt practices and loopholes through which a system frustrates its own online registration portal and forces citizens into mandatory bribes. TAIWO ADEBULU went undercover to expose the fraud in the marriage registration process.
COVID-19 Paradox: Nigerian Households Suffer Food Price Surges Amidst Dwindling Income
Opeyemi Adeyemi works with one of the big finance companies in Nigeria. Amidst the increase in food prices, he had a pay cut due to the lockdown during the coronavirus (COVID-19) pandemic. “To keep your job during this period, a pay cut is a relief, as thousands were fired,” Adeyemi, a 42-year-old finance expert who lives at Obalende, on Lagos Island, said.
Can Nigeria’s electricity export bridge the Balance of Trade gap?
Nigeria’s Balance of Trade continued its decline to N3.94 billion in Q1 2021.
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Nigeria’s GDP reveals People’s Anxieties, Government’s Insincerities, and Twitter’s Importance
The Workforce that produced 99.4% of Nigeria’s GDP received 0.6% worth of medical care and 1.7% worth of educational support compared to Ghana’s 4.4% educational support.
Okorocha’s Predecessors (4): Nigeria’s south-south states lost N94 billion potential interest on N161 billion embezzled funds
Three convicted ex-governors and two current federal ministers allegedly defrauded their states in the south-south region of Nigeria of over N161 billion.
Okorocha’s Predecessors (3): Yari’s alleged N300bn loot exceeds the total IGR of the 7 northwest States
A review of the Economic and Financial Crimes Commission (EFCC) records has revealed that 3 past governors from the northwest region of Nigeria may have plundered over N316 billion (316,350,000,000) while governing their respective states between 2007 and 2019.
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Okorocha’s Predecessors (2): Nigeria’s northeast governors’ N355b alleged loot highest across the 6 regions
The current investigation of Rochas Okorocha, the ex-governor of Imo State by the Economic and Financial Crimes Commission (EFCC) reaffirmed the perennial pattern of financial crimes perpetrated by governors of states in Nigeria and its national spread.
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How oil and gas activities impact the achievement of SDGs 13.4 and 9.2
Petroleum exports currently account for 88 per cent of Nigeria’s total export revenue, according to NBS foreign trade statistics for 2020.
Nigeria records the highest inflation rates in West Africa in March
Nigerians now pay more for food and other items as general inflation rose from 17.33% in February to 18.17% in March, marking a 1.56% increase in the inflationary rate between the months.
REPORT: N99 billion COVID-19 donation, funds remain unaccounted for, NASS, Auditor General, CACOVID yet to release the audit report
More than four months after submitting an audit report on COVID-19 spending in Nigeria, the National Assembly and Auditor-General concealed the details.
Financial Sustainability of Nigerian States: Kebbi and Ebonyi lead with over 80% growth in IGR in 2020
Despite the impact of COVID lockdown across Nigeria in 2020, Ebonyi and Kebbi performed excellently well, with growth in their internally generated revenue (IGR) above 80 per cent each.