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Nigeria’s Economy To Grow By 3.4% In 2022
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…
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Orodata Science Launches Vaccine Tracker Towards Equitable Economic Recovery To Improve Access To Data
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…
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Development Transportation Analysis (2010 – 2018)
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Inflation Hits 15.92% In March 2022
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…
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Here Is Why Economists Believe Raising US Inflation Targets Would Benefit Crypto Prices
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…
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Kenya Unveils Budget For The 2022/23 Fiscal Year
Kenya has unveiled a $28 billion (3.3 trillion shillings) budget for the 2022/23 fiscal year aimed at reviving the country’s economy. Treasury Secretary, Ukur Yatani, said the budget would focus on building infrastructures that would reduce the rates of unemployment and grow the economy by 6% by the end of the year. If the parliament…
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Poor Nigerians To Hit 95.1m In 2022
The World Bank has estimated that the number of poor Nigerians is projected to hit 95.1 million in 2022. This projection is coming as the number of Nigerians falling below poverty line continued to increase since 2015, the Washington-based bank said. It said this in its report titled, ‘A Better Future for All Nigerians: 2022…
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How The Russian-Ukraine War Is Hurting Zimbabwe’s Struggling Economy
The ongoing conflict between Russia and Ukraine is causing a rippling effect in countries across the globe especially developing economies that depend on oil and other produce supplies from both countries. Zimbabwe is one of those countries that heavily rely on European nations for trade and gets at least half of its wheat from Russia.…
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Nigeria Drops To 118th In World Happiest Countries Ranking
A publication of the United Nations Sustainable Development Solutions Network, powered by the Gallup World Poll has revealed that Nigeria ranks 118th out of 146 happiest countries globally. This is a decline by two spots from its position last year. The 2022 World Happiness Report is global survey data used to report how people evaluate…
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Mali Records Highest Cotton Production In The 2021-2022 Season
In Mali, food production and economic stability heavily rely on the production and exportation of cotton, after gold which covers up to 72% of the country’s total exports. As one of the four top cotton producers in sub-Saharan Africa, Mali’s cotton farmers are considered traditional high earners. However, the economic fallout from the coronavirus pandemic…