The National Bureau of Statistics has said that Nigerian residents spent N108.47 trillion on household consumption in 2021 in nominal terms. The figure is 11 percent higher than the N97.72tn recorded in 2020. This is an increase amid double-digit inflation of 15.92 recorded in march 2022. The NBS, which disclosed this in its recent Expenditure […]Read More
To prevent the catastrophic impacts of climate change, a pact signed and detailed in the Paris Agreement called for countries to limit global warming to 2ºC. To stay within the carbon budget, the atmospheric concentration of greenhouse gas emissions should not exceed 450 ppm CO2 for E5. Like other continents in the world, Africa recognizes […]Read More
About 23 million Nigerians were pushed into a food crisis due to the impact of the COVID-19 pandemic-induced inflation in 2021. The World bank said this in its latest Commodity Markets Outlook report in reference to the Global Report on Food Crises. According to the Washington-based, rising food prices have heightened food insecurity in emerging […]Read More
For the month of March, 2022, the Federation Accounts Allocation Committee shared a total sum of N725.57bn among the three tiers of government, as federal allocation. This indicates a 23 percent increase from the N590bn that was shared by the three tiers of government in February. The latest figure for March was contained in a […]Read More
According to a latest report by SBM Intelligence, continuous insecurity challenges, sit-at-home order and recent hike in fuel are major indicators that increased the prices of foodstuffs in the first quarter of 2022. The report, titled ”Jollof Index Q4 2021 & Q1 2022: Geopolitics Comes for Dinner”, showed an explanation of food inflation in Nigeria […]Read More
The IMF revealed a 3.1 percent growth projection for the nation in 2023, down from 3.4 percent in 2022 and 3.6 percent in 2021. Nigeria’s economic projection is lower than that of the Sub-Saharan African region, which is expected to grow by 4.5 per cent in 2021, 3.8 per cent in 2021, and 4.0 per […]Read More
Orodata Science sets another significant milestone with the launch of its vaccine tracker, “Orodata Covid19 Vaccine Tracker” driven towards achieving equitable economic recovery by improving access to data. COVID-19 precipitated a global economic crisis, and even as wealthier nations are bouncing back, it is creating a great divergence between them and the rest of the […]Read More
Latest figures from the National Bureau of Statistics showed that Nigeria’s Consumer Price Index rose to 15.92 percent in March 2022. This new rate is the highest the country has recorded since November 2021 with an inflation rate of 15.99 percent. The NBS in its “CPI report for March 2022” revealed that Nigeria’s inflation fell […]Read More
A month after Russia’s invasion of Ukraine, fuel prices in America soared, causing the highest rise in inflation rates since 1981. With the US energy prices at about 32% and consumer prices surging to 8.5%, economic growth became highly uncertain. In a bid to salvage the economic situation and reduce inflation rates, the federal reserve […]Read More
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