October 5, 2020

Nigeria Economic Update (Issue 37)

A recently conducted study by the World Bank shows that the cost of mortality and morbidity due to air pollution from exposure to fine particulate matter (PM₂.₅) stood at $2.1 billion or N631 billion (0.5% of Nigeria’s GDP).2 Lagos state has an exceedingly high concentration of PM₂.₅, at annual mean concentration  of levels of 68μg/m³ which exceed the World Health Organization (WHO)’s guideline for the annual mean PM₂.₅ level of 10μg/m³. Consequently, 11,200 people die from air pollution with 60 percent of the deaths under the age of 5. Sources of air pollution in the state include, road transport, heavy energy dependence on inefficient diesel and gasoline generators due to unreliable power, poor waste management, polluting fuel and stoves for household cooking etc. Air pollution is injurious to human health especially those that are already vulnerable – children, elderly, or people with existing health problems. In addition, it increases the rate of cardiovascular and respiratory ailments as well as mortality rates in the economy. Intrinsically, the life expectancy is reduced by air pollution. Therefore, to curtail these effects, low emission vehicles should be adopted and old generators should be discarded. Thus, they should be replaced with a better source of power such as renewable source of energy.

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Nigeria Economic Update (Issue 19)

A recent report by the National Bureau of Statistics (NBS) indicates that Internally Generated Revenue (IGR) at the subnational level decreased slightly between 2014 and 2015. Specifically, the report shows that on the average, the IGR of all 36 states declined by 3.6 per cent from N707.9 billion in 2014 to N683.6 billion in 20157. A further disaggregation reveals that while IGR in 11 states improved in 2015 compared to 2014, IGR in 24 states were below their 2014 levels. As expected, Lagos state generated the most IGR during the period. Given that domestic resource mobilization is the most viable alternative to complement the shortfalls (driven by lower oil prices) in budgetary allocations to states from the federal government, state governments need to do more to improve the effectiveness and efficiency of revenue collection.

Nigeria Economic Update (Issue 38)

Available data from NBS shows that Aviation sub-sector of the transport sector grew by o.15 percent in real terms in 2017Q2 down from 1.53 percent in 2017Q15. The decline is likely attributable to fall in year-on-year passenger and aircraft movement in the sub-sector, following increased air fare charges.