April 26, 2024

Nigeria Economic Update (Issue 13)

The latest report on the Cost of a Healthy Diet (CoHD) in Nigeria by the NBS shows that the national average cost of a healthy diet rose to N938 per day in February 2024, representing an increase of N80 from the previous month. The cost of a healthy diet (CoHD) is the most affordable combination of locally available food items that meet the global food dietary guidelines. This implies that a Nigerian would need to spend N938 for a healthy diet.

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Nigeria Economic Update (Issue 2)

Recent ranking by the World Bank, portrayed Nigeria as having a poor business environment based on the ease of doing business in 2016. Although, Nigeria moved one position forward from previous (2015) ranking, to attain the 169th position out of the 190 global economies reviewed4. This poor rating is resultant of a myriad of factors, including: difficulties in starting a business, enforcing contracts, inaccessibility to credit, tax payment issues, as well as unreliable supply of energy, and labour market regulations. Going forward, improving the efficiency of tax administration by adopting the latest technology to facilitate the preparation, filling and payment of taxes will be beneficial for the business community.