May 13th, 2020 Economy

N4.6 Trillion Spent on Food Outside the Home – What Does That Mean?

The Nigeria fast-moving consumer goods (FMCG) of the manufacturing sector is the bride of household expenditure in the last 10 years. Despite earning little, Nigerians spent N22.8 trillion on food expenditure, 56.7% of the total household consumption in 2019. According to the 2019 NBS household consumption data, food consumed outside the home where largely the FMCG sector played constituted 20.19% in the overall food expenditure, gulping N4.6 trillion from citizens.

May 7th, 2020 Governance

Here’s Why 33 States May Be Unable To Pay Salaries From May

There is a massive drop in oil earnings by 80 percent and the Nigerian government is struggling to secure proceeds from crude sales. It is clear from reports that Nigeria’s economy is bound for recession. Already, the GDP is expected to drop by 8 percent in 2020.

April 18th, 2020 Economy

What Influences GDP Growth?

Most things don’t grow forever. If a person grew at the same rate for his whole life, he’d become gigantic and perhaps perish (or else rule the world). Yet most economists agree the economy needs to grow and always.

April 14th, 2020 Economy

GDP: Why Is It Such An Important Figure?

Gross Domestic Product, GDP is an ultimate measure of how well a country fares, a window into an economy’s soul, the statistic that provides context to most national statistics. Its use spread rapidly, becoming the defining indicator of the last century.

February 9th, 2020 Economy

The Dilemma of Nigerian Government’s Unbridled and Unrelenting Quest for Loans

The figures are being thrown around in news articles and broadcasts. Analysts have been telling of its consequences – the repeatedly depressing rates of unemployment and inflation, low GDP per capita, lean spending on building, maintenance and expansion of available infrastructure, all culminating in a youth restiveness and crime, extreme incidences of violent deaths, poorer standards of living, financial uncertainties and a general state of hopelessness. These are the negative consequences of a country on the brink of bankruptcy due to an unhinged appetite for loans and irresponsible use of same.