A batch of 373 Edo indigenes who returned from Libya at the weekend protested against the non-payment of their in-state transportation stipends. The protesters, 73 of whom are females and some of whom are pregnant, were among 481 Nigerians flown from Libya on Sunday by a federal government constituted repatriation committee. According to a New Telegraph report, the protests were prompted when returnees, upon completion of medicals and biometric capturing, were told
2017 offered a ray of hope for Nigeria as the country exited a recession. However, the feeling remains that Nigeria failed to make good use of the opportunity presented by the economic recession. Our economy remains non-diversified and heavily reliant on oil To all intents, Nigeria has wasted the crisis.
In 2017, the Buhari Administration had a chance, with its second full year budget, to effect a change the budgeting process, and break a cycle which has kept the economy
2017 has been an eventful year in Nigeria as the country finally exited its first recession in a generation. As we put finishing touches to our review of 2017 and our forecast of 2018, due for release this Friday at noon, we did a review of our key 2017 predictions from last year and how these have panned out as the year unfolded.
A year ago, we forecast that the following were likely to happen in 2017:
1 – Oil prices would hover in the mid $50/bbl for the most part of 2017.
- We have scored this forecast CORRECT as can be seen in the chart below.
The Senate voted on 5 December to launch an investigation into alleged acts of brutality by a specialist unit of the police. The move follows a social media campaign calling for the Federal Special Anti-Robbery Squad (F-SARS) to be scrapped. The campaign, which has gathered pace in the last few days, involves people sharing stories of alleged maltreatment by the unit’s officers. The Senate said lawmakers on a security committee would consider the claims about SARS.
Nigeria’s economy grew 1.4 per cent year-on-year in the third quarter, the statistics office said on Monday, extending its slow climb out of its first recession in a generation. Africa’s largest economy returned to growth in the second quarter of 2017 but the recovery has been fragile due to depressed oil revenues and a shortage of hard currency. The NBS said oil production stood at 2.03 million barrels per day in the third quarter. Agriculture grew by 3.06 per
Annual inflation in Nigeria slowed for the ninth month in a row in October, easing to 15.91 per cent, the NBS said on Wednesday in a report. A separate food price index showed inflation at 20.31 per cent in October, compared with 20.32 per cent in September. “The rise in the food index, in October 2017 was caused by increases in prices of bread and cereals, meats, oils and fats, coffee tea and cocoa, milk cheese
After some two years in detention by the Federal Government, the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, was released on stringent bail conditions by the Federal High Court in Abuja. Two of the bail conditions were that he was not to be seen in public gatherings of more than 10 people; and he was not to grant media interviews. However, as soon as Kanu got to his home in Umuahia, Abia state, he began to grant interviews to foreign and local media,
President Muhammadu Buhari presented on Tuesday a 2018 budget of ₦8.612 trillion, the country’s biggest ever, to lawmakers. He said the budget was based on an exchange rate of ₦305 to the dollar and a projected oil output of 2.3 million barrels per day at an assumed price of $45 per barrel. The president said he was targeting 1 January 2018 for the passage of next year’s budget, adding that the deficit is expected to be ₦2.005 trillion and real economic growth
Suspected Boko Haram militants killed at least 10 villagers in northern Cameroon on the night of 29 October in what army and local officials said was revenge for attacks by Cameroon’s army. Cameroon’s Far North region has been a target of Boko Haram suicide bombings and raids for eight years as the Islamist insurgency spilled over the border from Nigeria, killing 20,000 and uprooting nearly 3 million in the Lake Chad region. Cameroon forces have tried to beat back
Online newspaper, Premium Times reported that at least eight soldiers have been killed in Sasawa, a village in Damaturu LGA, Yobe after suspected Boko Haram gunmen launched an attack on a military base on 24 October. An army spokesperson, Kayode Ogunsanya, confirmed the attack but declined details on the actual casualty. An unnamed officer told Premium Times that one of the slain soldiers was an officer and that a civilian was among those killed when the insurgents