A Darker 2021 for Press Freedom Across the World
In 2021, the situation got darker as a total of 42 journalists died while 293 journalists were jailed for doing their jobs within the year.
Journalists around the world continue to face dangers in executing their duties. Journalists imprisoned in 2021 alone account for 15.72% of 1864 imprisoned from 1992 till date.
The Committee to Protect Journalists (CPJ) released statistics of the injustice meted to journalists in the line of duty. The figure, 293, recorded in 2021 represents the all-time high of imprisoned journalists, increasing from 280 in 2020.[Read more]
2019 Audit Report: N668 billion Net Change in Reserves Unaccounted for
A recent review of the 2019 Auditor General’s report by Dataphyte reveals that there was an unexplained net change of N668.162 billion in reserves of the consolidated statement of changes in net assets and equity.
From the auditor general’s report, the opening balance of the consolidated statement was N22.670 trillion and the closing balance was N23.338 trillion. The 668.162 billion total net change in reserves is unexplained, a clear breach of paragraphs 17 and 127 of IPSAS 1.[Read more]
Nominal Food Prices Continue to Increase Despite Drop in Food Inflation
Despite the drop in food inflation in October, nominal prices of food items continue to rise. An NBS sample of 43 food items across the country shows that 37 experienced price increases while just 6 dropped in price in October compared to September.
Analysis shows that of the food items that experienced an increase, the price of Irish potato increased the most. It rose from N358.68 in September to N367.85 in October, representing a 2.57% increase. Also, the Irish potato increased from N318.96 in October 2020 to N367.85 in October 2021, a 15.33% increase.
In October, the other food items that had high price increases were palm oil (one bottle), onion bulb, unsliced bread, and unripe plantain in the top five. These items increased by 2.5%, 2.38%, 2.18% and 2.1% respectively. [Read more]
Explainer: How Nigeria Lost its Place in the Top 10 Countries to Invest in Africa
Nigeria dropped from the second-best country to invest in Africa in 2014 to number fourteen in 2021, the recent data from Rand Merchant Bank has revealed. The country dropped from its 5.62 scores in 2014 to a 5.13 score in 2021.
However, despite the drop-in point for the country in the latest ranking, trend analysis shows Nigeria has had it worse and the 2021 scores mark an increase in ranking. Nigeria moved from 4.1 in the 2020 ranking to 5.1 in the latest ranking. [Read more]
#ChartoftheDay: Top 15 Import Traded Products in Q3 2021
These are the top 15 top import traded products for Q3 2021 according to the recently released report for Foreign Trade in Goods Statistics for Q3 2021.
Motor spirit ordinary leads with over 1 billion naira, Durum wheat (Not in seeds) and Gas oil follow suit as they rank 2nd and 3rd with over 315 and 225 million naira each.
As has been pointed out in several reports, Nigeria’s import volume is high although the major imports are consumables rather than goods or products that could significantly contribute to manufacturing and industry.