2023: Plan For Citizen Database, Primary Healthcare, BudgIT CEO Urges Candidates

Director of BudgIT, Seun Onigbinde appeared on Channels Television's Politics Today on Friday, November 18, 2022.
Director of BudgIT, Seun Onigbinde appeared on Channels Television’s Politics Today on Friday, November 18, 2022.

 

Co-Founder and Chief Executive Officer of BudgIT, Seun Onigbinde, has urged presidential candidates in the 2023 election to place a high priority on improving the quality of life and entrepreneurial potential of citizens. 

Onigbinde said this on Friday while discussing the 2022 Multidimensional Poverty Index Survey on Channels Television’s Politics Today.

The National Bureau of Statistics, on Thursday, released the survey which indicated that 130 million Nigerians are poor, representing 63 per cent of the nation’s population..

According to the document, the poverty index is mostly experienced in rural areas, especially in the North with women and children being the most affected.

READ ALSO: Transparency International Blames Desperate Politicians For Underage Voters

Speaking on the campaign promises of candidates, Onigbinde said, first and foremost, they should be serious about building a social contract framework and having every single Nigerian registered on a platform.

He explained the platform enable the government to properly determine who is poor and who is not poor.

“Any economic plan or manifesto that you don’t see a huge element of building a single citizen database, then you know that whatever we are doing will always not be enough.

“The second thing is interrogating their plans on health and primary education systems. Those elements need to be really well defined and I know that this is at the federal level but we all know how the federal government has an overbearing element on most of these things.

“There has to be an integrated way of investing heavily on primary health care systems and primary education systems,” he said.

Another requirement, Onigbinde noted, is a Small and Mid-size Enterprise (SME) framework. He noted that unless government is able to put capital in the hands of small businesses to strengthen entrepreneurship at local or urban levels, efforts to fight poverty are insufficient.

“If anybody does not have a significant target on SME development or semi-development, they can’t say, ‘We are going to tackle poverty.’

“The last thing is social protection. I’ve always been of the belief that no matter how much we try to change all of these things, there will be a segment of the economy that is heavily vulnerable and are susceptible to shocks.

“For example, the flooding that we had recently is going to exacerbate the numbers. Significant people lost their holdings and it’s going to be difficult for them to come back. So, how do you also invest in social protection,” he said.

Public Debt Stock Increases To N42.84tn In Q2 – NBS

Nigeria's GDP Falls 2.24% In 3rd Quarter of 2016

 

Nigeria’s public debt stock rose from N35.46 trillion (US$86.57 billion) in the second quarter of 2021 to N42.84 trillion (US$ 103.31 billion) in the second quarter of 2022.

This includes external and domestic debt, according to the National Bureau of Statistics (NBS) in its Nigerian Domestic and Foreign Debt Report for Q2 2021 to Q2 2022 released in Abuja on Wednesday.

The NBS stated that external debt stood at N13.71 trillion (33.46 billion dollars) in the second quarter of 2021 and increased to N16.61 trillion (40.06 billion dollars) in the second quarter of 2022.

It also stated that domestic debt was N21.75 trillion (53.10 billion dollars) in the second quarter of 2021, but increased to N26.23 trillion (63.24 billion dollars) in the second quarter of 2022.

This, it further stated, shows that public debt (in national currency) grew by 20.81% in Q2 2022 from figures recorded in Q2 2021.

It, however, noted that the share of external debt increased from 38.66% in Q2 2021 to 38.78% in Q2 2022 while domestic debt decreased slightly from 61.34% in Q2 2021 to 61.22% in Q2 2022.

On state profile analysis, the NBS stated that Lagos recorded the highest domestic debt in Q2 2022 with N797.30 billion, followed by Delta with N378.87 billion and Ogun with N241.78 billion.

On the other hand, Jigawa recorded the lowest debt with N45.13 billion, followed by Ebonyi and Kebbi with N59.11 billion and N60.41 billion respectively.

Additionally, Lagos state recorded the highest external debt stock in Q2 2022 with US$1.27 billion, followed by Kaduna with US$586.77 million and Edo with US$268.31 million, the NBS noted.

The report added that the lowest was recorded in Borno with US$18.69 million, followed by Taraba and Yobe with US$22.28 million and US$23.09 million respectively.

Lagos Received 86.9% Of Capital Imported Into Nigeria In 2021 – NBS

FILE: A currency trader counts notes in his cabin at a market in Kinshasa on August 11, 2021. (Photo by Arsene MPIANA / AFP)

 

Nigeria’s commercial capital Lagos received at least 86.9 percent of the capital imported into the country in 2021.

This is according to data from the National Bureau of Statistics.

The region with the second highest figure was the Federal Capital Territory (FCT) with 12.4 percent of the over $6.7bn worth of capital imported into the country in 2021.

READ ALSO: Nigeria’s Import Bill Grows As Exports Remain Oil-Dependent: NBS

At least 24 other states recorded zero capital importation or had unavailable data for the same period.

More capital was imported through Banking ($1.4bn), Shares ($1bn) and Production ($934mn) than other sectors.

Nigeria’s Import Bill Grows As Exports Remain Oil-Dependent: NBS

Exporting crude oil has been Nigeria's main source of revenue for decades. Sodiq Adelakun/Channels Television
Exporting crude oil has been Nigeria’s main source of revenue for decades. Sodiq Adelakun/Channels Television

 

Nigeria’s trade balance in the third quarter of 2021 amounted to a deficit of N3,023.50 billion as the value of imports continued to outpace exports, the National Bureau of Statistics said on Monday.

This was contained in the NBS’ Foreign Trade in Goods Statistics report.

The deficit was an increase of 26.53% compared to the same period in 2020.

READ ALSO: How We Intend To Build A More Resilient Economy – Buhari

Total imports in the third quarter grew to N8,153.79 billion, showing an increase of 17.32% quarter on quarter and 51.47% on a year-on-year basis.

Export-2021-Q3-Data

 

And total exports were pegged at N5,130.30 billion, which shows a 1% growth compared to the second quarter of the same year and a 71.38% growth compared to the third quarter in 2020.

“Export in the third quarter 2021 was still oil-dependent,” the NBS said. “Crude oil exports recorded N4,026.18 billion and it remained the major product in total exports (78.48%), while non-crude oil was valued at N1,104.1 billion or 21.52% of total exports of which Non-oil products only contributed N546.27 billion representing 10.65% of total exports during the quarter under review.”

Nigeria’s major export trading partners, according to the report were India (14.78%), Spain (12.22%), Italy (8.69%), France (7.08%), Netherlands (4.78).

However, the major import trading partners were China (29.95%), India (8.71%), the United States (7.35%), the Netherlands (6.80%) and, Belgium (5.32%).

Import-2021-Q3-Data

GDP Decline: Time To Start Doing Some Things Differently, Says Rewane

A file photo of Bismarck Rewane, the CEO of Financial Derivatives Company and a member of the Economic Advisory Council (ECA).

 

Notable economist and adviser to the Federal Government, Bismarck Rewane, on Monday said the latest Nigeria Bureau of Statistics report on the economy should push the country to start “doing some things differently.”

Nigeria’s Gross Domestic Product (GDP) decreased by six percent in real terms in the second quarter of 2020, the NBS said Monday morning.

According to Rewane, the decline was “surprising and concerning” but not “alarming at this point in time.”

“The truth is that the economy had its pre-existing conditions in Q1 and the lag between the slow down and the contraction was underestimated by all analysts,” Mr Rewane said in an interview with Channels Television on Monday.

He pointed out that the Federal Government’s stimulus plan for the economy was inadequate to cover for the shortfall recorded by the NBS.

“We have a N2.5trn equipment to fight a 12trn contraction,” he said. “So the limitations and inadequacies and inappropriateness of the tools, compared to the problem we have, is stacked.

“So we are saying that the move from a slowdown into a contraction was more than we expected. The tools that we have at our disposal are inadequate. The stimulus that is required to take us out of this equation is going to be much more than we expected. And we are going to have to take some measures.”

Mr Rewane added that the country was now faced with a quadrilemma, a situation in which a choice must be made between four undesirable options.

“The first variable we are looking at is recession, negative growth,” he said. “The second variable is high inflation, which is almost 13 percent.

“The third variable is high unemployment; even though the unemployment numbers are at 28 percent, we think that it is much more than that. And finally, we have weaknesses in currency.

“So we are having external weaknesses and vulnerabilities, slow growth, high unemployment, and, more than anything else, contraction in economic activity.

“Now we are going to move away from the monetary policy complement that we have, stimulate the economy with greater catalyst, and do some things differently.”

NBS, Softcom To Host Webinar On Leveraging Data To Drive Inclusive Policy, Revenue Generation & Improved Governance

 

The National Bureau of Statistics (NBS) in partnership with Softcom Limited, an indigenous and innovative technology company, will host a webinar on Thursday, 23 July 2020 at 11am WAT.

It will feature the Honourable Minister of Finance, Budget & National Planning, Dr (Mrs) Zainab Ahmed together with the Statistician-General of the Republic and CEO of National Bureau of Statistics, Dr Yemi Kale as keynote speakers.

They will be joined by distinguished panellists such as: Special adviser to the President on Finance and Economy & former Central Bank of Nigeria Deputy Governor, Dr Sarah Alade; Country Director at the World Bank, Shubham Chaudhuri; Director General at the Budget Office of the Federation, Ben Akabueze; President of the Nigerian Statistical Association, Prof Sidney Onyeagu; Dr Jania Okwechime, Associate Director in Risk Advisory & The West Africa Data Analytics Leader, Deloitte and Chief Operating Officer at Softcom, Seindemi Olobayo.

● Webinar Topic: Leveraging Data to Drive Inclusive Policy, Revenue Generation & Improved Governance

● Date: Thursday, 23rd July 2020

● Time: 11 am WAT

● Venue: Zoom call

● Registration Link: Clicking Here

The webinar will explore the methods of data collection and analysis together with their cross-sector usage.

It is an opportunity for public-private assessment of existing technological innovations and solutions that can assist to accelerate the achievement of Nigeria’s Sustainable Development Goals.

The assembled panellists will discuss how informed data gathering processes can lead to economic growth and greater tax collection for the federal fiscus while addressing persistent inequalities.

Significantly, the webinar will explore locally relevant and globally acclaimed data collection tools that factor in the uniqueness of Nigeria and Sub-Saharan Africa in terms of network connectivity, literacy, and human management.

Speaking ahead of the event, Dr Yemi Kale, NBS CEO, notes: “I am of the view that if we do the right things at the right time, for the right reasons, and in the right way, Nigeria can attain its full potential. One of such right things is getting our data right and leveraging that data to inform policy and decisions.

“However, before data can be leveraged towards any meaningful use, both internal and external users must be able to trust the data and ensure that the data is used in ways that reinforce public trust. NBS is aware of the critical role it can play in building trust and improving the efficiency of government interventions.

“This webinar demonstrates our commitment to improving the accessibility, availability, transparency in methodology, and timeliness of data, believing that these efforts not only advance inclusive policies and good governance initiatives but foster greater trust in our data output.”

Yemi Onagoruwa, VP, Softcom Public Sector further adds: “This event is a fine opportunity to explore existing technological innovation and solutions that can help fast-track inclusive policies, revenue generation and improved governance. The ability to make effective decisions is necessary for any government organization’s continued existence in today’s turbulent and highly unpredictable environment. I look forward to the conversations and insights that will arise from this webinar. I hope you will join us.”

About NBS

NBS is an agency which coordinates statistical operations of the National Statistical System in the production of Official Statistics in all the Federal Ministries, Departments and Agencies (MDAs), State Statistical Agencies (SSAs) and Local Government Councils (LGCs).

About Softcom

Softcom Ltd is a technology company which aims to solve problems that will connect people and businesses to value which will ultimately improve their lives. It is also the parent company of Eyowo, a mobile bank that allows people to have access to financial services with their smart and feature phones. www.softcom.ng

NOA, UNICEF Campaign Against Female Genital Mutilation

UNICEFThe National Orientation Agency (NOA) and the United Nations Children’s Emergency Fund (UNICEF) have urged parents, especially mothers as well as community leaders to support the campaign against female genital mutilation.

The bodies, who are also campaigning against other unhealthy practices, said these cases are mostly prevalent in the rural areas, adding that it can lead to child mortality.

Speaking at a one-day forum organized for Town union and women leaders in Owerri, Imo state capital, the Director, National Orientation Agency in Imo State, Mr. Vitus Ekeocha, said the aim of the forum is to re-awaken the consciousness of community leaders on the need to promote actions that would help reduce maternal mortality and infant morbidity.

He also stressed that rural community dwellers pay more attention to the provision of infrastructure and other social needs while issues bothering on health are being neglected.

In a most recent Multi Indicator Cluster Survey (MIC 4) report published by Nigeria’s National Bureau of Statistics (NBS) show that as far as the wellbeing of children is concerned, significant challenges still remain in the South-Eastern states, as infant mortality stands at 74 per 1000 births in Abia, 71 in Anambra, 77 in Ebonyi, 81 in Enugu and 116 in Imo.

The report also shows that issues of crucial practices for preventing diseases and deaths among children such as sanitary means of excreta disposal is equally low as population affected in this practise in Abia stands at 35.8 percent, Anambra 46.9 percent, Ebonyi 18.7 percent, Enugu 22 and Imo 60 percent.

Also Speaking at the forum, the Resource person and former UNICEF Desk Officer in the state, Mrs. Ngozi Dike, said it is imperative to be better informed and motivated to integrate communities to address issues of child survival, development, protection and participation in their various town union meetings and community gatherings especially on issues bothering on maternal and infant mortality, HIV/AIDS, Malaria prevention, ante-natal care for mothers and good hygiene and sanitation system.

Participants at the forum said things learnt here will go a long way in saving their lives and that of their children if they endeavour to put it into practice.

205 communities drawn from 18 out 27 Local Governments Areas of Imo State benefited from the exercise.

13 States Fail To Report 2014 IGR To Bureau Of Statistics – Report

NBSA new report released on Wednesday by the National Bureau of Statistics (NBS) has revealed that only 23 out of the 36 state governments submitted the details of their Internally Generated Revenues (IGR) for 2014 fiscal year to the Data Generation and Collation Agency.

The IGR data released was inconclusive for the past calendar year as the states of Abia, Adamawa, Borno, Cross River, Ebonyi, Edo, Gombe, Jigawa, Kano and Kwara.

Others include Ondo, Taraba and Yobe were yet to submit their report to the National Bureau of Statistics as at June 2015.
Lagos State, however, leads the list of states that reported their Internally Generated

Revenue for last year, with a total sum of N276.1 billion, Rivers came second with N89.1 billion while Delta was in third position with N42.8 billion.

NBS Rates Nigeria’s New Unemployment Statistics At 6.4%

NBSThe National Bureau of Statistics (NBS) has put Nigeria’s unemployment statistics at 6.4% of the nation’s over 72 million labour force population, as at the fourth quarter of  2014.



The Bureau’s Head of Real Sector and Household Statistics, Mr Isiaka Olarewaju, revealed that the latest statistics is based on the revised definition and methodology for computing unemployment statistics in Nigeria.

According to Mr Olarewaju, the old method of computation, which placed Nigeria’s unemployment statistics at 24.3% of her total labour force population, is outdated and does not reflect the true situation in the country.

Inflation eases to 11.3 pct yr-yr in Sept – National Bureau of Statistics

Nigeria’s consumer inflation eased for the third straight month to 11.3 percent year-on-year in September, down from 11.7 percent year-on-year in August, the National Bureau of Statistics (NBS) said on Wednesday.

Food inflation, the largest contributor to the headline index, rose slightly to 10.2 percent year-on-year in September, from 9.9 percent in August, the NBS numbers showed.

Core inflation, a figure closely watched by the Central Bank, dropped to 13.1 percent year-on-year in September from 14.7 percent the previous month.

Nigeria pumped 2.12 million bpd in Q2 -CBN

Central Bank of Nigeria (CBN), on Monday, said the country pumped 2.12 million barrels of oil per day (bpd) in the second quarter, well below the 2.48 million bpd which the finance ministry projected in the 2012 budget.

The CBN, in its second quarter review of the economy, published on its website, said oil production had risen from an average of 2.06 million bpd in the first quarter.

Official oil figures normally come from the National Bureau of Statistics (NBS), but the CBN, the oil ministry and the Nigerian National Petroleum Corporation (NNPC) sometimes give output figures on ad hoc basis.

If the apex bank’s figure is correct, a lift in output in the second half of the year will be unavoidable, to fund all the spending in the budget without taking on more debt or lowering its oil savings rate.

The benchmark oil price in the budget was $72 a barrel, well below the market price and above which Nigeria is supposed to save extra revenues in the Excess Crude Account (ECA).

But if production fails to meet projections, the government will need to take more money back from the ECA to meet the shortfall.

Finance Minister, Ngozi Okonjo-Iweala, told a foreign news agency last month that the ministry lowered the production projections given by the oil ministry.

 

 

Oil output and economy slows in Q1

The nation’s economy grew 6.17 percent in the first quarter this year, down from 7.68 percent in the fourth quarter last year,the National Bureau of Statistics (NBS) said on Tuesday.

According to the NBS, the slowed growth is partially due to the removal of government fuel subsidies.

Oil production also fell to an average of 2.35 million barrels per day (bpd) in the first quarter of this year, from 2.4 million bpd in the fourth quarter 2011, NBS said.