Internal displacement has become an unlikely source of rapid urbanization. Specifically, as people affected by violent conflict in rural areas flee to seek refuge, they are finding cities to be an attractive destination. In Nigeria, violent conflict that leads to displacement mainly occurs in rural areas and locations where the reach of government and its institutions are limited—the seemingly ungoverned spaces enabling perpetrators of violence to operate. Cities, on the other hand, have more government presence and are able to be more resilient to sustained insurgent activities that lead to mass displacement.
February 18, 2020
Building the Resilience of Internally Displaced Persons in Nigeria
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Nigeria Economic Update (Issue 8)
The falling tide in the international value
of Naira experienced a reversal in the review week with naira appreciating
significantly by 11 percent from N516/$ on February 17, 2017 to N460/$ on
February 24, 2017 at the parallel market the first appreciation
since December 2016. The recent rise in naira value was driven by forex
supply-demand gap closure, sequel to improvements in dollar liquidity. The
recent CBN Special intervention (e.g. the auction and sale of $370 million and
$1.5 million respectively, by the apex bank during the week) and its
revised forex policy guidelinescontributed in dousing speculations
in the parallel market, thus gradually narrowing the margin between the
interbank and parallel market rates. Given that the sustainability of naira
appreciation is strongly hinged on the improvement in foreign reserve which is
largely dependent on crude oil sales, the government should continue its
efforts at calming tensions in the Niger Delta region.
Nigeria Economic Update (Issue 26)
Power sector statistics indicates a huge decline in power generated in the week under review (June 23, 2017 to June 30, 2017). Power generated, attained a peak of 4,305 MW on June 23, 2017 but fell significantly by 33.1 percent to approximately average of 3,000 MW as at June 30, 2017. The huge decline is attributable to continued poor payment and inability of most GENCOs to pay for gas supply and a system collapse. Consequently, power sector lost huge prospective funds; and daily power supply reduced to 4.5 hours per day7. Going forward, improvement in energy supply is critical to domestic production, job creation, and diversification agenda of the government.