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‘282 Million Africans Malnourished’
The United Nations in a report has said that the effect of the COVID-19 pandemic heightened global hunger in African countries. The UN noted that this global hunger accounted for 282 million malnourished people in the African continent. The report titled, ‘UN report: Pandemic year marked by spike in world hunger, Africa posting biggest jump,…
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Nigeria’s GDP Might Drop By 2030
The World Bank has said that Nigeria’s GDP may decline by $139 billion in 2030 on the back of a collapse in ecosystem services. The apex Institution in its latest report, “Economic Case for Nature”, said that the loss in GDP could cause a permanent reduction of the country’s potential productive economy. It added that…
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Q1: All Commodity Terms Of Trade Falls By 51%
In the latest Commodity Price Indices released by the National Bureau of Statistics, the All commodity Terms of Trade Index fell by 0.51 percent from January to March 2021. NBS released the first quarter of 2021, the report stated that the all commodity group import index increased by 0.82 percent between January and March 2021.…
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Proposed Global Minimum Corporate Tax Rate Gathers More Support
President Biden’s proposal of a 15% global minimum corporate tax rate has garnered support from 130 countries and jurisdictions including China and India. The move represents the largest overhaul of the global tax system in more than a century and has the potential to curb tax avoidance by corporations that move their operations to countries…
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Angola To Commence Light Rail Project In 2022
The Angolan government’s new surface metro project in its megacity Luanda is proof that it is taking seriously the United Nation’s recommendation on implementing urban infrastructures that are environmentally friendly. The United Nations had in recent times asked that countries look toward implementing solutions for sustainable urban growth that focuses on making mobility more environmentally…
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Electricity Subsidy Gulps N30bn Per Month
The Federal Government has said that the amount spent on subsidising electricity in the country every month in Nigeria is now about N30 billion. The reduction by N20 billion, according to the government, is following improvements in the collection of power tariffs by distribution companies. The government stated this in a document on the progress…
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COVID-19: 7 Airlines Got N2.84bn Stimulus Package
A total of N2.84 billion was given to seven airlines by the Federal Government as a stimulus package during the COVID-19. FG said the target of N2.3tn estimated to be spent under the Economic Sustainability Plan had not been achieved. According to a statement issued by the Federal Government, appropriation part of that total, being…
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Zamfara Home To Highest Number Of Poor Nigerians
According to data from the National Social Registry, Zamfara State has the highest number of the poor and vulnerable people in Nigeria, with a record of 3,836,484 people from 825,337 households. The Communications Manager of the National Social Safety-Net Coordinating Office, Joe Abuku, who made the data available, said the Federal Government has documented 35,267,966…
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Togo To Re-Launch Its Cotton Industry
The Togolese government has revealed its plans to revive its once struggling cotton sector through its recent privatization and industrialization efforts. At a press conference held in mid-June, the chairman of the board of directors of the New Cotton Company of Togo (NSCT), Simféitchéou Pré, revealed that the efforts are intended to make “white gold”…
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FG To Tax Global Digital Tech Companies Operating In Nigeria
The Vice president of Nigeria, Professor Yemi Osibanjo, has revealed the government’s new plan to begin the taxation of all global technology companies operating in Nigeria to expand the country’s income and tax net. Professor Osinbajo made this known during an interaction with a delegation from the Chartered Institute of Taxation of Nigeria (CITN), led by…