Using data from a dedicated survey conducted by the Centre for the Study of the Economies of Africa (CSEA) and led by the Corporate Accountability and Public Participation Africa (CAPPA) in 2023 on SSB consumption patterns in Nigeria, this report begins by examining SSB consumption trends, revealing noticeable gender and age disparities.

The study suggests that a raise in SSB tax from the current N10 per liter to N130 per liter has the potential to generate substantial revenue and improved public healthcare in Nigeria. Specifically, the simulation shows that the excise tax revenue is projected to increase by about 927% (amounting to 729 billion naira per year), and this can be earmarked for improving Nigeria’s health system.

In terms of its health impact, it also suggests that mean prevalence of obesity would reduce by 0.46% for male and 0.53% for females. While mean prevalence for overweight would reduce by 0.42% for males and 0.37% for females.

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This Report was first published by CAPPA

In its recent CPI and Inflation report, the National Bureau of Statistics (NBS) revealed that Nigeria’s inflation rate increased to 29.90 percent in January 2024, a 0.98 percentage points rise from 28.92 percent recorded in December 2023. On a year-on-year basis, this represents an 8.08 percentage points increase from 21.82 percent in January 2023. Food inflation increased to 35.41 percent from 33.93 percent recorded in December 2023 and 24.32 percent in January 2023. The persistent upward trend in Nigeria’s inflation rate emerges from multiple factors including growth in money supply and higher prices in selected food items driven by the country’s epileptic food supply chain, insecurity, rising transportation costs, and low agricultural productivity. 

Ending Gender-based Violence (GBV) as highlighted within SDG 5, aims to achieve gender equality and inclusion. Specifically, SDG 5.2 seeks to eliminate all forms of violence against all women and girls in the public and private spheres, including trafficking and sexual and other types of exploitation . As a result, SDG 5 acknowledges that inclusion cannot be achieved until GBV is eliminated. In Nigeria, women have historically been the victims of various kinds of violence as a result of a patriarchal society and for them to achieve inclusion in society, we must first ensure that they are safe from violence and sexual assault.

The Central Bank of Nigeria (CBN) has halted quasi-fiscal measures totalling over 10 trillion naira. The finance was issued by the CBN previously as development finance interventions. The cessation of quasi-fiscal measures by the CBN emerges as a response to empirical findings indicating that these measures to assist Micro,Small, And Medium Enterprises (MSMEs) have substantially increased the money supply, consequently contributing to the current inflation rates. Also, the size of the quasi-fiscal functions makes it easy for the CBN to lose sight of its core functions. This is largely because the independence of the CBN is weak and there is strong political pressure to make economic growth its primary function.

This study examines the adoption of education technology (Ed-Tech) in primary and secondary education in 10 sub-Saharan African countries: Nigeria, South Africa, Sierra Leone, Uganda, Kenya, Tanzania, Cameroon, Benin, Malawi, and Senegal. The study assesses development and implementation of Ed-Tech policies and programmes in the region, exploring how far Ed-Tech has advanced learning outcomes, improved access, and reduced education inequalities within and between countries in sub-Saharan Africa.

This paper was published by the Southern Voice. READ MORE

The Central Bank of Nigeria (CBN) has revealed, in its data on movement on gross foreign reserves, that the country’s foreign reserves, which were $37.1 billion as of January 3, 2023, fell to $33.1 billion by February 8, 2024.This represents a 10.7 per cent decline ($4 billion) in foreign reserves. Consequently, the number of months of imports equivalent declined from 7.6 months in January 2023 to 6.8 months as of February 8, 2024

The International Monetary Fund (IMF) in its World Economic Outlook Update released in January 2024, estimated that Nigeria grew at 2.8 percent in 2023 and reviewed its 2024 economic growth forecast downward by 0.1 percent from 3.1 percent projected in October 2023 to 3.0 percent in 2024. Persistent macroeconomic weaknesses, high levels of public debt, poor infrastructure, political unpredictability, and external shocks like rising global geopolitical tension are some possible causes of this decreased economic growth

This policy brief aims to outline the key considerations for developing artificial intelligence (AI) governance frameworks that promote transparency, accountability and confidence in AI systems across the African continent. AI is gaining some traction in African countries, as a means to drive socio-
economic development. Countries are recognising the potential of AI and as a result, are investing in research, innovation, and infrastructure to foster its growth.

The Oil market report for the fourth quarter of 2023 by the International Energy Agency indicates that the
growth of global oil demand is expected to slow down by 1.2 million barrels per day (mb/d) in 2024 compared to 2.3 mb/d in 2023. The decline in projected oil demand is due to several factors including slow GDP growth in major economies falling below trend, increased energy efficiency and electrification of vehicle fleets. Conversely, the world oil supply was projected to rise by 1.5 mb/d to a new high of 103.5 mb/d, fuelled by record- setting output from non-OPEC countries like the US, Brazil, Guyana, and Canada. OPEC supply is expected to hold steady on previous supply.