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For Today’s Numbers to Ponder, Nigeria could raise at least N2.5 trillion revenue by increasing consumer credit in the housing sector to help cushion the effect of COVID-19 crisis on the economy. Dataphyte analysis also estimated that this would provide shelter for about 20 million Nigerians that need decent homes. In Lagos, the state’s health commissioner, Prof Akin Abayomi, says confirmed coronavirus cases in the state may increase to 120,000 between July and August 2020. More funds on the COVID-19 support programme as the office of the Accountant-General of the Federation announced that pandemic dedicated accounts had climbed to N697 million as of April 30, 2020..
May 9th, 2020
For Today’s Numbers to Ponder, Nigeria could raise at least N2.5 trillion revenue by increasing consumer credit in the housing sector to help cushion the effect of COVID-19 crisis on the economy. Dataphyte analysis also estimated that this would provide shelter for about 20 million Nigerians that need decent homes. In Lagos, the state’s health commissioner, Prof Akin Abayomi, says confirmed coronavirus cases in the state may increase to 120,000 between July and August 2020. More funds on the COVID-19 support programme as the office of the Accountant-General of the Federation announced that pandemic dedicated accounts had climbed to N697 million as of April 30, 2020..
Nigeria could raise at least N2.5 trillion revenue by increasing consumer credit in the housing sector alone. For instance, “if the mortgage industry sells 5 million houses at an initial N5 Million deposit, that will generate N25 trillion. With a 10% VAT, the government would generate N2.5 trillion cool cash revenue”. said Samuel Atiku, who is a senior project officer at the International Budget Partnership.[DATAPHYTE]
A news report published on Opera News and circulating widely on WhatsApp claims that Abubakar Shekau’s faction of Boko Haram is in disarray after it received a donation of five mIllion euros from an “unidentified” international nongovernmental organisation (NGO). The publication claimed that senior members of the group have also turned against each other over how the fund should be shared within the group.
The Director-General of World Health Organisation (WHO), Tedros Ghebreyesus, says the organisation requires $1.7 billion to respond to COVID-19 between now and the end of 2020. Mr Ghebreyesus, in his speech posted on the verified WHO website, made the remark at a news conference in Geneva on Friday.
In an unexpected turn, the supreme court of Nigeria nullified the 12-year jail term conviction of Orji Uzor Kalu, former governor of Abia state and chief whip of the senate. Kalu and two others were tried on 36-count of money laundering to the tune of N7.1 billion. Mohammad Idris, the presiding judge, had on December 5, 2019 sentenced Kalu to 12 years in prison.
Donations into the COVID-19 Eradication Support Accounts by 111 individuals and organisations between April 1 and 30 had climbed to N697,538,108. The figures, which were made available by the office of the Accountant-General of the Federation, were the aggregate from the five dedicated accounts activated by the Federal Government in five commercial banks.
The total number of confirmed coronavirus cases in Lagos State may increase to 120,000 between July and August, the state’s health commissioner, Prof Akin Abayomi, has said. While speaking at a press conference on Friday, Abayomi said the virus was expected to reach its peak in Lagos at that time.
Imo people and keen political watchers are gradually settling down and coming to terms with the aftermath of the Supreme Court’s judicial pronouncement ousting Chief Emeka Ihedioha from power on January 14, and subsequent reaffirmation of the judgment in which it declared Senator Hope Uzodinma duly elected. But another can of worm capable of further souring relationship between the two men recently came up, with the Uzodinma administration accusing his predecessor of siphoning N19.63 billion from the accounts of the 27 local government areas of the state.
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Today, a new generation of Nigerians live through the country’s prolonged battle with two of its biggest socio-economic deficiencies – a protracted housing deficit and recurrent budget deficits.
A recent review of the 2019 Auditor General’s report by Dataphyte reveals that there was an unexplained net change of N668.162 billion in reserves of the consolidated statement of changes in net assets and equity.
Leading Media research and data analytics organisation, Dataphyte has released its maiden Dataphyte Advisory Note titled “the Nigerian post-oil Economy Advisory Note.
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For Today’s Numbers to Ponder, COVID-19 has disrupted the distribution and revenue of newspaper publishers. From a short online poll conducted by DATAPHYTE, out of 778 people, only 45 buy a newspaper every day, while about 24 buy once a week. We are also sharing news of alleged grand corruption at the Lagos State House of Assembly. According to Sahara Reporters, Speaker of the House, Mudashiru Obasa; Deputy Speaker, Wasiu Eshilokun-Sanni; and 17 other members received N80 million as estacode after attending a five-day event in Dubai, United Arab Emirates. Not yet Uhuru for former Abia Governor Senator Theodore Orji. The ex-governor is answering questions on how he spent N38.8billion security votes during his eight years in office.
For Today’s Numbers to Ponder, 82.9 million Nigerians are living below N400 per day, putting Nigeria officially on the map of nations in extreme poverty. This figure means that an average of 4 out of 10 individuals in Nigeria live on about $1 per day. On the COVID-19 frontline, the Central Bank (CBN) has challenged Nigerian Scientists to develop homegrown vaccines for the treatment of the virus. Godwin Emefiele, CBN governor, said the apex bank has launched a N100 billion healthcare intervention fund to support them. Despite efforts by the apex bank to increase liquidity in the forex market, the Naira-dollar trade at N445 in the parallel market due to dollar scarcity. In politics, President Muhammadu Buhari has sent a letter to the National Assembly requesting the approval of 42 nominated career diplomats in accordance with section 171(2)(1c) and Subsection 4 of the 1999 constitution.
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For Today’s Numbers to Ponder, N4.6 trillion was spent on food consumed outside the home in 2019, representing 20.19% of total food expenditure. DATAPHYTE takes a look at what the NBS figures mean for FMCG businesses. Setting records straight, the Bill and Melinda Gates Foundation has denied media reports that it offered a $10 million bribe to the Nigerian House of Representatives to pass the controversial Control of Infectious Diseases Bill. Nigeria’s EFCC has received court permission to use data to probe a controversial company P&ID that received a $9.8 billion arbitration award against the government. Nigeria has added 2 weeks to the ongoing movement restrictions across Nigeria. The effort is to tame the spread of COVID-19.
