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#CashGate: How Nigerians are surviving as new naira notes scarcity increases
In this piece, Precious Ewuji shed lights on how average Nigerians are surviving and the amount they pay to get cash for their daily business.
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How Prices of Kerosene, Gas, Diesel Increased
The latest data from the Nigerian Bureau of Statistics for November has shown that the price of household Kerosene, also known as cooking kerosene skyrocketed by over 100 per cent in one year. The average retail price of kerosene per litre rose by about 146 per cent from N441 in November 2021 to N1,083/litre in…
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Ghana Increases Salaries By 30 Percent Amid High Inflation Rates
In a joint statement, the Ghanaian government and trade unions have announced an agreement to raise all public employees’ pay by 30% starting in 2023 as the nation works to cut its debt and control skyrocketing inflation. A few months after hardship sparked street demonstrations in Accra that forced the government to request assistance from…
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What To Know About Tanzania’s Proposed Bridge Project With China
Tanzania and China have recently finalized a partnership agreement to construct the last segment of the Standard Gauge Railway line connecting Tanzania to some of its neighbours. Intended to link the port of Dar es Salaam to Mwanza on Lake Victoria, then subsequently extend to Burundi, the Democratic Republic of Congo (DRC), Rwanda, and Uganda,…
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Here Is Why Charity Organizations Want The Rich To Be Taxed More
According to a report from the annual meeting of the World Economic Forum held in Davos, Switzerland, the world’s top 1 percent has grabbed nearly two-thirds of the $42 trillion in new wealth created since 2020. In the report by Oxfam titled “Survival of the Richest”, the share was almost twice as much money as what the…
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Nigeria’s Household Food Import Rises By 71%
Data from the Q3 2022 Foreign Trade Statistics report by the National Bureau of Statistics has shown that household food and beverage imports rose by 71.12 per cent between the third quarter of 2018 and the corresponding quarter of 2022. This development is coming despite the foreign exchange crisis in the country. The food and…
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Nigeria’s Inflation Hits 21.47% In November
The National Bureau of Statistics has disclosed that Nigeria’s inflation rate rose for the 10th consecutive month to 21.47 per cent in November 2022. This is the highest in 17 years. It was 21.09 per cent in October. In its Consumer Price Index, CPI report for November, NBS, indicated that new pressure on inflation is…
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Is Nigeria’s Oil Sector Experiencing More Growth In 2022?
According to new data from the Nigerian Upstream Petroleum Regulatory Commission, Nigeria surpassed its 1 million BPD quota for November and October, a welcome development from August when the commission announced the country was unable to meet its OPEC quota owing largely to oil theft and vandalism. The report details that oil production output in…
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Here Is Why Uganda Would Need More Skilled Wielders In The Coming Years
Uganda has started the process of preparing some of its citizens for an economic boom, following plans to intensify oil production by 2025. Last week, Sinopec Uganda started the screening process to provide qualified candidates with hands-on training in advanced fabrication and recruitment on the Tilenga project in Nwoya District. The corporation said there were…
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Nigeria’s Growth DropTo 2.25% In Q3’22
The National Bureau of Statistics has disclosed that Nigeria’s Gross Domestic Product, GDP, fell quarter-on-quarter (QoQ) by 1.78 percentage points to 2.25 per cent in the third quarter of 2022 (Q3’22). This is a drop from the 3.54 per cent recorded in Q2’22. NBS said this in its Nigerian GDP report for Q3’22, citing the…