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Specials

Numbers To Ponder: 1.9m Displaced, 4000 for Evacuation, N6bn NEMA Scam and N40bn more

For Today’s Numbers to Ponder, 1.9 million people are displaced from their homes in the North-East. The figure reported by UNICEF, is another alarming figure, a day after NBS reported high numbers of poor people in the region. Away from Northeast, the country’s opposition party has challenged VP Yemi Osinbajo to defend himself in the alleged N5.8 billion NEMA scam. The Government is already looking for ways to weather a pandemic tsunami on the economy and may further review the crude oil price in the 2020 budget down to $20 per barrel. Another FG effort will start evacuating about 4,000 stranded citizens across the world as a result of COVID-19 from today.

Latest Reports

Nigeria’s Agro-allied industry: 38 years of neglect and decline

An analysis of the National Bureau of Statistics’ (NBS) Gross Domestic Output figures has shown that Nigeria’s agro-allied industry has continuously been on the decline for most of the past thirty-eight years. The output from the industry has fallen from N5,100 billion in 1981 to N4,598 billion in 2018. These figures show that the capacity of the agro-allied industry to process agriculture produce has been reducing even though agricultural production is increasing.

Business

No Loans Barred (2): The widening gap between loan availability and access to MSMEs

In recent years, the amount of loans committed to Micro, Small and Medium Enterprises (MSMEs) has not only been low, but the news is also that it is actually getting lesser by the years. A National Bureau of Statistics (NBS) data revealed that, between the year 2015 and 2017, the number of borrowers that gained access to loans within the various categories of MSMEs declined consistently and considerably (see chart below).