Opinion

Economic Slowdown Prompts Scrutiny of African Data

A dip in the fortunes of many African economies has raised doubts about the accuracy of the heady statistics that lured hordes of investors during the "Africa Rising" boom years.

According to Reuters, Sub-Saharan Africa has achieved annual growth of more than five percent over the last decade, and foreign investment has more than quadrupled over the same period, as a commodities boom and an increase in consumer spending drove bumper returns.

Why FG Budgeting Plans are Changing Under Buhari’s Administration

In order to achieve the socio-economic goals of the President Muhammadu Buhari administration, amidst dwindling oil revenues on the one hand, and the vast number of Nigerians who live in poverty, on the other, there is a need to change the way budgeting is done.

“The greatest challenge to us is controlling ballooning recurrent expenditure and freeing up resources for growth-related capital expenditure,” according to the Vice President, Yemi Osinbajo.

Africa's GDP Growth to Slow to 3.7% this Year –World Bank

Economic growth is set to slow in Sub-Saharan Africa to 3.7 percent this year, its weakest pace since 2009, mainly due to the drop in commodity prices, the World Bank said on Monday.

According to Reuters, the region's economy, which grew 4.6 percent last year, will strengthen only marginally in the next two years, it predicted.

"Growth in the region is projected to pick up to 4.4 percent in 2016, and further strengthen to 4.8 percent in 2017," it said in a bi-annual report titled Africa's Pulse.

World Poverty Rate to Fall Below 10% for the First Time

For the first time ever, the number of people living in extreme poverty is set to fall to below 10% of the global population in 2015, the World Bank said.

"This is the best story in the world today -- these projections show us that we are the first generation in human history that can end extreme poverty," Jim Yong Kim, World Bank's president, said.

No Progress in Governance Across Africa Since 2011 –Survey

Progress in governance across Africa has stalled since 2011, with deteriorating safety and lack of economic opportunity blunting any gains made on the human rights front especially in resource-rich nations, a survey reported on Monday.

The Ibrahim Index of African Governance (IIAG) - the most comprehensive survey of its kind on the continent, rates 54 African nations against criteria such as security, human rights, economic stability, just laws, free elections, corruption, infrastructure, poverty, health and education.

Where is Nigeria in the Global Radar?

Nigeria was 100 years on January 1st, 2014, and the Federal Government celebrated this milestone achievement. A century is significant for a country like Nigeria which has had its fair share of upheavals ranging from colonialism, communal clashes, civil war and religious crises, to even insurgency. While it is proper to justify some degree of festivity, it is also expedient to retrospect and appraise our national life.

Full Text of the 55th Independence Anniversary Broadcast by President Muhammadu Buhari on October 1, 2015

October 1st is a day for joy and celebrations for us Nigerians whatever the circumstances we find ourselves in because it is the day, 55 years ago; we liberated ourselves from the shackles of colonialism and began our long march to nationhood and to greatness.

No temporary problems or passing challenges should stop us from honouring this day. Let us remind ourselves of the gifts God has given us. Our Creator has bequeathed to us Numbers – Nigeria is the ninth most populated country on the planet. We have in addition:

Statement by President Buhari at World Leaders Summit on ISIL and Violent Extremism

GLOBAL LEADERS’ SUMMIT ON COUNTERING ISIL AND VIOLENT EXTREMISM ...REMARKS BY HIS EXCELLENCY MUHAMMADU BUHARI, PRESIDENT, FEDERAL REPUBLIC OF NIGERIA

DATE: 29TH SEPTEMBER 2015

Mr Chairman,
Your Excellencies,
Secretary-General,
Ladies and Gentlemen,

I thank President Obama for organising this important meeting. The timing is appropriate and the subject matter warrants our close attention. The threats posed by ISIL in the Middle East, and violent extremism elsewhere, are an existential danger to many States.

Nigeria’s Economy Needs an Urgent Fix

REVIEW –A petite look at how Africa’s biggest economy has performed under the “apostles” of change.

There is a looming disaster waiting to happen in Nigeria if its ailing economy is not urgently fixed. Palpably not sounding like a prophet of doom, but the blue sky of opportunity that once appeared recently is fast dissipating into a gloomy economic cloud. Even the expectations of most Nigerians, following the euphoria that greeted the inauguration of a new government, may soon be cut off.

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