Development

Nigeria’s industries without smokestacks are delivering better economic opportunities than traditional sectors

Persistently high levels of unemployment have emerged to become a key policy challenge in Nigeria. Between 2010 and 2018, the unemployment rate rose from 5 percent to 23 percent. Worsened by the COVID-19 pandemic, the economy is simply not generating enough jobs for labor entrants, particularly women and youth. In 2020, the national unemployment rate […]

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Women’s Participation in MSME in Nigeria: Prospects, Challenges, and Policy Recommendations

In Nigeria, women’s labour participation has begun to pick up in recent years after many years of stagnation. However, women’s entry point into labour has been mainly through the informal sector or at the bottom pyramid of the formal labour market. Promoting women’s inclusion in the top echelon of the labour market remains a knotty […]

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Nigeria Economic Update(Issue 9)

Transport fares continued to increase across different modes of transportation in January 2023. According to the National Bureau of Statistics report on transportation in January, the average fare paid by commuters for buses within the city per drop increased from N644.66 in December 2022 to N650.70 in January 2023.

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Nigeria Economic Update(Issue 5)

There was a general increase in transport fares across different modes of transportation in the country in December 2022. The report on transport fares released by the National Bureau of Statistics (NBS) in January 2023 revealed that the average fare paid by passengers for bus journey within the city per drop increased from N637.10 in […]

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Unlocking Africa’s Digital Potential: The Role of EU-Africa Collaboration

Introduction The digital economy is on the exponential rise due to its capability to transform and revolutionise economies and societies,  influencing how we work, live, and interact. Otherwise known as digitalization, the digital economy refers to economic activities facilitated by digital technologies and digital data in businesses and organizations. One of the sundry blessings of […]

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Nigeria Economic Update (Issue 47)

The latest monthly oil market report (MOMR) of the Organisation of Petroleum Exporting Countries (OPEC) indicates that Nigeria’s crude oil production increased from 938 thousand barrels per day (tb/d) in September to 1,014 tb/d in October 2022.1 The increase is coming a few weeks after the federal government launched full-blown combat against oil theft in […]

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Nigeria Economic Update (Issue 45)

Total revenue and income generation by the rail sector dipped significantly in Q2 2022, according to the latest rail transport statistics published by the National Bureau of Statistics (NBS). The report shows that aggregate revenue generated by the sector dropped by over 200 percent. It decreased from about N2.2 billion in Q1 2022 to about N734.5 million […]

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Nigeria Economic Update (Issue 37)

According to the National Bureau of Statistics (NBS), the prices of energy products increased further in August. The average retail price of a litre of petrol increased by 14.89 percent to N189.46 in August 2022 from N164.91 in August 2021.1 The price of a 5kg Cylinder of Cooking gas rose by 101.17 percent to N4,397.68 in August 2022 […]

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Nigeria Economic Update (Issue 36)

According to the National Bureau of Statistics (NBS), Company Income Tax (CIT) revenue increased in Q2 2022.1 CIT revenue was N714.40 billion in Q2 2022, an increase of 29.53 percent on a quarter-on-quarter basis from N551.53 billion recorded in Q1 2022. On a year-on-year basis, CIT collections in Q2 2022 increased by 51.34 percent from Q2 2021. […]

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Nigeria Economic Update (Issue 32)

According to the National Bureau of Statistics (NBS), Nigeria’s inflation rose to 19.64 percent in July 2022, from 18.60 recorded in June, 2022.1 This is 2.27 percentage points higher than 17.38 per-cent recorded in July 2021. The report also shows that on a month-on-month basis, the Headline inflation rate in July 2022 was 1.82 percent, […]

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Nigeria Economic Update (Issue 31)

According to National Bureau of Statistics (NBS) data, Nigeria’s mineral production in 2021 was 89.48 million tons, which indicates a 39.19 percent improvement over the 64.29 million tons produced in 2020.1 Granite, laterite, limestone, and sand are the most mined products. At the state level, the top three producing states were Ogun, Kogi, and Cross […]

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Foundations For Pro-development Digital Governance Framework in Africa

Today, the increasing value of digitalisation and data to global development has received widespread attention. A great number of structural transformations have been driven by means of digital technologies. Digital technology has provided a marked boost to world economic output and created innumerable jobs. Following the recent COVID-19 disruption on the global scene, many other […]

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Towards A Data-driven Agenda among Indigenous Businesses in Africa

African indigenous businesses (AIBs) are in the nascent stages of becoming data-driven and innovative through data analytics. The data-driven agenda looks promising in industries like manufacturing (distribution), health, agriculture, and online platforms like social media, with enterprises deriving economic and symbolic value from descriptive, diagnostic, and predictive analytics. These data-driven activities tend to be often […]

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Data-Driven Enterprises in Africa: An Evaluation of Winners and Losers

The fact is that indigenous firms are still struggling to manage resources to invest in basic IT infrastructure. Hence data analytics adoption, which requires both human personnel and technical infrastructure, is often yet to be strategically considered, shelved for the future, or even when outsourced, it is often poorly managed and under-resourced. Others are also […]

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Nigeria Economic Update (Issue 23)

The June edition of the Monthly Oil Market Report (MOMR) of the Organization of Petroleum Exporting Countries (OPEC) shows that Nigeria produced an average of 1,262 million barrels per day (mbpd) in May 2022.2 This indicates a 3.45 percent decline from 1,306 mbpd produced in the preceding month, April. The continuous decline in production is […]

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Africa: Opportunities for a robust COVID-19 recovery grounded on SDG 16

The COVID-19 pandemic has posed significant challenges for the African continent in achieving peace, justice and inclusive and effective institutions, including significant negative effects on economic, social and political conditions. This policy brief presents and discusses key trends on SDG 16 on the African continent, including: an increasing concentration and strengthening of executive power; shrinking […]

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