NEWS AGENCY OF NIGERIA
Foundation calls for end to femicide in Nigeria

Foundation calls for end to femicide in Nigeria

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By Mercy Eletta

Fame Foundation, a gender biased Non-Governmental Organisation (NGO), has called for an end to all forms of femicide in Nigeria.

Femicide is the act of killing a woman by a domestic partner or a member of a criminal enterprise.

The Executive Director of the Foundation, Aderonke Atoyebi, at a news conference in Abuja, stressed the need for government and all stakeholders to collectively fight it in Nigeria.

She decried the fact that femicide is often concealed in Nigeria due to societal stigma, fear of retaliation, while emphasising the need to change the narrative.

Atoyebi told the News Agency of Nigeria (NAN) that the foundation was working round the clock to raise awareness about the problem and also advocating for stronger legal protections for women and girls.

“The girl child, young women, young female adults are endangered in Nigeria.

“Femicide has become a pandemic and a state of emergency needs to be declared on this often-overlooked issue. Victim blaming must end,” she said.

Atoyebi said that over 89,000 women were killed globally in 2020 and at least 401 deaths recorded from sexual and gender based violence (SGBV) in 2022.

“The situation of femicide is now critical, as the Federal government has recorded 27,698 SGBV cases in the last three years in Nigeria.

“At least five female murder cases recorded from different states this year were highlighted, some of the cases got justice while some didn’t get till date,” she said.

Atoyebi, therefore, stressed the need to strengthen existing laws that address SGBV and ensure its enforcement, while stressing the need for perpetrators of femicide to be adequately punished to deter future crimes. (NAN) (www.nannews.ng)

Edited by Muhyideen Jimoh/Joseph Edeh

NCF set for cricket festival in October 

NCF set for cricket festival in October 

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By Ijeoma Okigbo

No fewer that 1000 school girls are expected to take part in the upcoming International Cricket Council (ICC)/Nigeria Cricket Federation (NCF) Women’s Criio Festival.

Uyi Akpata, president of the NCF, said this on Tuesday at a media briefing aimed at analysing activities by the federation in recent years.

Akpata spoke on the backdrop of the federation’s partnership with the world governing body, ICC, and the opportunities the country has gained.

“We are going to have a launch of a super female involvement in cricket through a modified format. It is the women’s criio festival.

“We are bringing between 600 to 1000 school girls in Abuja to come and have fun and it is going to be on the back of the National Women Championship.

“We are going to have best female cricketers around and we will be inviting ICC women representative as well, and the criio template will be replicated to other parts of the country.

“ICC identified two countries in Africa, Nigeria and Rwanda to champion this initiative and this is because of what we have done in women’s cricket.

“We have won global and continental awards and accolade in the cause of women’s cricket and we can as this investment is bearing fruits already,’’ Akpata added.

On the federation’s achievements so far, Akpata said leadership and good governance structure played a key role.

“When we were riding on the back of serious misgivings about our leadership and governance, we revamped our leadership structure.

“At the time, it was led by Prof. Yahaya Ukwenya, a surgeon and myself, who was the vice president, though having a pedigree as one of the senior members of Pricewaterhouse Coopers (PwC) at the time.

“It was not about credentials but about implementation.

“So, we put up that structure and the rest of the board came along and saw how deliberate we were in terms of transparency and they keyed in.

“This was to the extent that when the template of effective governance structure was given to associate countries in Africa by the ICC, they had to tell us to review and see whether it was consistent with best practices.

“That is what we did. Now, we have become a positive reference point and we must always align ourselves with ICC and their templates,’’ Akpata added.

Bronze winning Nigeria Women’s Cricket team at the African Games in Ghana in March

Also at the event, the NCF brand ambassador for women’s cricket, Adaora Sydney-Jack, said she would be using her experience in community journalism to drive awareness for the game.

“When I look at women’s cricket in the country, I see the future is near.

“If we begin to appraise women’s cricket in countries like India, South Africa, Australia and more, we see that they have done well for themselves due to strategic partnerships.

“As a brand ambassador, that is the area I will be looking at strategic partnerships and community development.

“This is where you see cricket playing a key role and I will be using my brand as a mainstay in community journalism, that is an area I will need to drive,’’ Sdyney-Jack said. (NAN)(www.nannews.ng)

Edited by Joseph Edeh

Association intensifies preparation for bodybuilding world championships in U.S.

Association intensifies preparation for bodybuilding world championships in U.S.

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By Muhyideen Jimoh

The Nigeria Natural Bodybuilding Association (NNBBA) says preparations are in full swing for Nigerian bodybuilders to excel in the upcoming African qualifiers for the World Natural Bodybuilding Championships billed for the United States.

The News Agency of Nigeria (NAN) reports that the 2024 World Natural Bodybuilding Federation (WNBF) championships will be held in Boston, U. S. from Nov. 23 to Nov. 24.

While the Africa qualifiers for the world championships is scheduled for October 26 in Lagos.

NNBA President, Arinze Oraekwuotu, at a news conference on Wednesday in Abuja, stressed the need for Nigeria to secure a spot at the world championships.

“As we launch the NNBBA, we are also excited to announce Nigeria’s participation in the upcoming Africa Qualifiers for the World Natural Bodybuilding Championships in the USA.

“This is a tremendous opportunity for our athletes to test their mettle against the best from across Africa and secure a spot at the world championships,” he said.

Oraekwuotu said  the association was committed to developing grassroots talent and athletic potential across the continent.

“The NNBBA is dedicated to promoting natural bodybuilding across Africa, and we are committed to enhancing Africa’s presence in international bodybuilding competitions,” he said.

The NNBA boss called on corporate organisations, government agencies and individuals to partner with the association in achieving its goals and fostering a fitness culture in Nigeria. (NAN)

Edited by Abiemwesnse Moru

Stakeholders call for early funding, preparation for 2028 Olympics

Stakeholders call for early funding, preparation for 2028 Olympics

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By Muhyideen Jimoh

Sports Stakeholders have called for better funding and early preparation of athletes ahead of the Los Angeles 2028 Olympics, for Nigeria to make appreciable impact at the Games.
The stakeholders comprising of officials from the Nigeria Olympic Committee (NOC), Sports Federations, Technical departments of the Sports Ministry among others made the call on Tuesday in Abuja, at a Ministerial Post Games Audit Review Meeting.
The News Agency of Nigeria (NAN) reports that the Minister of Sports Development, Sen. John Enoh, convened the meeting to review Team Nigeria’s poor outing at the Paris 2024/Paralympic Games.
After the closed door meeting which lasted for hours, NAN reports that the stakeholders highlighted the need for early release of funds for preparation, and grooming of younger athletes to replace the ageing ones.
They also called for more support for athletes, coache and other officials, while stressing the need for a more robust anti-doping strategy and training facilities for athletes.
President of the Nigeria Basketball Federation (NBBF), Musa Kida, told NAN that in spite of the challenges leading to the Paris Games, the D’Tigress were able to make history at the Games.
“Since our participation in Tokyo four years ago, we have seen significant improvement, building on our 2021 Africa Cup win in Kigali.
“The team’s (D’Tigress) resilience, coaching, and consistent preparation contributed to their success,” Kida said.
He, however, said that the issue of delays in releasing funds and the budgeting system remain a major challenge in Nigerian sports.
The NBBF boss, therefore, called for a more proactive approach in line with international best practices.
President of the Badminton Federation of Nigeria, Francis Orbih, said the meeting was apt in addressing the challenges facing Team Nigeria at international competitions.
He stressed the need for the meticulous implementation of the National Sports Industry Policy to galvanise the holistic development of sports in Nigeria.
“I feel that it’s a good development that we were able to have this kind of review meeting and if we can implement the recommendations.
 “I am also very happy for the National Sports Industry Policy that creates the enabling environment for sports to be managed like a business.
“So, the implementation of the policy is very important,” he said. (NAN) (www.nannews.ng)
Edited by Abimweense Moru
Nigeria’s unemployment rate increased to 5.3% in Q1 2024- NBS

Nigeria’s unemployment rate increased to 5.3% in Q1 2024- NBS

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By Okeoghene Akubuike

The National Bureau of Statistics (NBS) says the unemployment rate in Nigeria increased to 5.3 per cent in Q1 2024 from the 5.0 per cent recorded in Q3 2023.

The NBS said this in its Nigeria Labour Force Survey for Q1 2024, released in Abuja on Tuesday.

The bureau said the unemployment rate was defined as the share of the labour force who were not employed but who were actively searching and were available for work.

In terms of educational attainment, the report said the rate of unemployment among persons with post-graduate education was 2.0 per cent in Q1 2024.

“While unemployment among those with post-secondary education was 9.0 per cent, while those with secondary education was 6.9 per cent, and 4.0 per cent for those with primary education.”

It said the unemployment rate among youth aged (15-24 years) in Q1 2024 was 8.4 per cent, which was a decrease of 0.2 per cent compared to the 8.6 per cent recorded in Q3 2023.

The report said the unemployment rate among males was 4.3 per cent and 6.2 per cent among females in Q1 2024.

“The unemployment rate was 6.0 per cent in urban areas and 4.3 per cent in rural areas in Q1 2024.”

The NBS said time-related underemployment in Q1 2024 was 10.6 per cent, indicating a decrease of 1.7 per cent from the 12.3 per cent recorded in Q3 2023.

It said time-related underemployment rate was the share of employed people who were working less than 40 hours per week, but who would be willing and available to work more.

“The share of the underemployed men was 8.5 per cent, while the share of underemployed women was 12.5 per cent in Q1 2024.

“The underemployment rate was 9.7 per cent in urban areas and 11.8 per cent in rural areas.”

The NBS said the labour force participation rate among the working-age population in Nigeria dropped to 77.3 per cent in Q1 2024 compared to 79.5 recorded in Q3 2023.

The report said the participation rate among males was 77.5 per cent while for females it was 77.1 per cent.

It said the employment-to-population ratio, which was the proportion of the working-age population that was employed was 73.2 per cent in Q1 2024

“This indicates a decline of 2.4 per cent compared to a ratio of 75.6 recorded in Q3 2023.

“The ratio in urban areas was 69.5 per cent and 78.9 per cent in rural areas in Q1 2024, indicating a decrease in the ratio compared to the 71.1 per cent and 80.7 per cent in Q3 2023, respectively.”

The report said there was a 3.3 percentage point increase in the proportion of workers in wage employment, from a record 12.7 per cent recorded in Q3 2023 to 16.0 per cent in Q1 2024.

“By gender, 20.1 per cent of males were in wage employment, compared to 12.1 per cent of females.

“Wage employment was also higher in urban areas, at 21.8 per cent than in rural areas, where it stood at 8.1 per cent.”

It said in Q1 2024, the percentage of youth (15-24 years) identified as Young Persons Not in Employment, Education nor Training (NEET) was 14.4 per cent.

“This indicates a 0.7 percentage point increase from 13.7 per cent in Q3 2023.”

The report also showed in Q1 2024, there were more females in NEET with 15.9 per cent compared to 15.5 per cent in Q3 2023.

“ Males in NEET accounted for 13.0 per cent in Q1 2024.”

The NBS said 1.5 per cent of employed Nigerians spent between one to nine hours a week working, while 4.8 per cent spent between 10 to 19 hours a week.

“Approximately 25 per cent worked between 20 to 39 hours, while 22 per cent spent between 40 to 48 hours, and 46 per cent worked 48 hours and above in a week.”(NAN)(www.nannews.ng)

Edited by Abiemwense Moru

China, Nigeria to foster peace through cultural entertainment

China, Nigeria to foster peace through cultural entertainment

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By Sarafina Christopher

China and Nigeria have stressed the need to foster peace through cultural and entertainment initiatives.

The News Agency of Nigeria (NAN) reports that the two countries made the call in Abuja at the 5th National Entertainment and Peace Summit, with the theme, “Cultivating A Culture of Peace”.

Speaking at the gathering, Mr Yang Jianxing, the cultural counselor of the Chinese Embassy, highlighted the relationship between entertainment and peace.

The relationship, he said, helps to alleviate negative emotions and provides relaxation, and promotes a sense of unity among different people in spite of their diverse backgrounds.

He observed that in spite of being from different countries, people are fundamentally the same and share common human emotions and experiences which can either create conflict or foster peace.

“We believe that entertainment can help alleviate negative emotions by providing relaxation and a means to forget temporary sadness.

“Therefore China places great importance in people to people communication and friendship through cultural exchange for global peace.

Yang also spoke of the significance of the entertainment industry in fostering mutual communication and understanding between Nigeria and China.

He said that cultural exchange through entertainment can be a powerful tool for future collaborations.

“The collaboration between China and Nigeria aims to cultivate a culture of peace and promote cultural diplomacy, further contributing to global efforts for a more peaceful world,” he said.

Amb. Nsikan Paul, the Executive Director, Drum Majors for Peace reiterated his commitment to promoting peace, inclusivity, and social cohesion through entertainment, dialogue, youth development, and the creative industry.

He also noted that peace is more than just the absence of conflict;It is a condition of harmony that must be cultivated by intentional acts and efforts.

“Today, as we come together under the banner of peace, we are reminded of the immense power of creativity in shaping a better world.

“Through positive entertainment and meaningful dialogue, we aim to build sustainable cities and communities that are inclusive, fair, and resilient; aligning our efforts with the United Nations Sustainable Development Goals, particularly Goals 1, 2, 11, 16 and Goal 17.

“We are dedicated to providing young people with platforms to discover, develop, and maximize their potential, empowering them to become responsible and patriotic citizens.

“We are especially proud of our joint effort to promote peace via the arts, as evidenced by our win as the Grand Prize winners of the Energy China Dance Competition, sponsored by the Chinese Cultural Center and Energy China Nigeria,” he said.

The summit was organised by the Drum Majors for Peace in partnership with the China Cultural Center in Nigeria to commemorate World Peace Day, 2024. (NAN)(www.nannews.ng)

Edited by Emmanuel Yashim

Nigeria’s flooding: Rising waters, sinking hopes

Nigeria’s flooding: Rising waters, sinking hopes

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By Abiemwense Moru, News Agency of Nigeria (NAN)

Earlier this year as the rainy season approached the Nigerian Meteorological Agency (NiMet) in its weather forecast, as it has done in recent years, warned of impending flooding.

As forewarned, the rain is here so is the flood. The consequences, though not as massive as two seasons ago, is huge.

Mrs Aishatu Abu’s eyes welled up with tears as she gazed at the ruins that used to be her home. It has been submerged in the murky waters of the overflowing river.

The floods had come without warning, sweeping away her livelihood, her memories and her sense of security. She is not alone. The victims across the country are many.

Thousands of Nigerians, such as Abu, have been affected by the recent flood season with their lives turned upside down by the raging waters.

The floods spotlight the urgent need for effective disaster risk management in Nigeria.

Mrs Zubaida Umar, the Director-General, National Emergency Management Agency (NEMA), urges a comprehensive action plan to address disaster risks in Nigeria.

He advocated a more comprehensive action plan for disaster risk management in Nigeria considering new and emerging hazards associated with it.

Umar spoke at a recent Expert Workshop on Early Warning For All, National Disaster Risk Reduction (DRR) Strategic and Action Plan 2023-2030 in Abuja.

He said Nigeria faced severe vulnerabilities due to poverty, environmental degradation, and climate change.

Umar said that the Sahel region, where Nigeria is located, is prone to various disasters, including floods, landslides, droughts, and conflicts.

“A review of NEMA’s existing plans has indicated an urgent need for a more comprehensive action plan for disaster risk management in Nigeria, considering new and emerging hazards.

“This is to align with the Sendai Framework and African Programme of Action (PoA) to increase disaster resilience and drive sustainable development.

“The current escalations of conflicts, banditry, annual floods, and extreme weather events have triggered the desire to develop this DRR Strategy and Action Plan for Nigeria,” she said.

One of the agencies at the centre of disaster mitigation, NiMet, is worried that many Nigerians do not heed to early warnings serious hence enormity of damage usually cost by flood and other disasters.

Prof. Charles Anosike, Director-General/Chief Executive Officer of NiMet, spoke in Abuja, at a three-day Expert Workshop on Early Warning For All, National Disaster Risk Reduction (DRR) Strategic and Action Plan 2023-2030.

“Disasters, whether natural or man-made, can strike at any moment, leaving devastating impacts on communities and livelihoods. Early warning systems are the first line of defence against disasters.

“They provide critical seconds, minutes, or hours for people to seek safety, evacuate, or take necessary precautions.

“However, an early warning is only effective if it reaches all those at risk. In Nigeria, we face various hazards, from floods to landslides, droughts, and conflicts.

“The impact of these disasters can be catastrophic, but we can mitigate them through proactive and inclusive approaches.

“That’s why we must prioritise early warning for all. We need to ensure that every citizen, regardless of location, language, or socioeconomic status, receives timely and accurate warnings,” Anosike said.

Anosike said that to achieve this, Nigeria should invest in robust early warning systems that leveraged technology and community networks and strengthen emergency response capabilities.

He stressed the need to conduct regulatory and public awareness campaigns, foster collaboration between government agencies, NGOs, and local communities, and support disaster risk reduction education in schools and communities.

Anosike called on all stakeholders working on disaster management and prevention to cooperate for better results.

“By working together, we can build a culture of resilience and reduce the risk of disasters in Nigeria. Let us commit to protecting our people, our communities, and our nation,” he said.

As the country seeks to build resilience against disasters, it must prioritise the needs of affected communities and escalate investment in disaster-related areas.

By investing in robust early warning systems, conducting regulatory and public awareness campaigns, and fostering collaboration between government agencies, NGOs, and local communities, Nigeria can reduce the risk of disasters and protect its citizens from their aftermath.

Anambra is one of the flood-prone states in the country and Dr Nonye Soludo, the governor’s wife wants residents of previously flood-hit communities to always take proactive measures during rainy season by moving to higher grounds.

Ayamelum, Anambra East, Anambra West, Onitsha North, Onitsha South, Awka North, and Ogbaru are among the high flood risk areas.

She urged community leaders, churches, and well-meaning individuals to assist residents who may be affected by the flood.

In Niger State, the management of North South Power Company Limited (NSPCL) has sensitised communities around the Shiroro Hydro-Electric Power Plant to desist from water-based activities.

Mr Olubunmi Peters, the Vice Chairman, North South Power Company Limited (NSPCL) identified poor maintenance of drainage system as part of the causes of flooding.

He, therefore, emphasised the need for government to start intensive desilting of drains and flood channels as well as intensify climate information services, especially to farmers.

As Nigeria grapples with the challenges of disaster risk management, it is clear that a comprehensive action plan is needed to address the challenge.

By working together, government agencies, NGOs, and local communities can build a culture of resilience and reduce the risk of disasters in the country.

Already, the Federal Government said it is taking the bull by the horn by supporting states in their efforts to manage flood disaster.

According to Mr Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, said in Birnin Kebbi that federal government would provide three billion naira to states to mitigate the impact of flood.

While this year’s rainy season is in its twilight it is important that more measures are taken to apply the lessons learnt this year in preparing for flooding and other disasters next season. (NANFeatures)

**If used please credit the writer and News Agency of Nigeria.

Commission seals agreement on .5bn Bakassi Deep Seaport project

Commission seals agreement on $3.5bn Bakassi Deep Seaport project

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By Okeoghene Akubuike

Dr Jobson Ewalefoh, the Director-General of Infrastructure Concession Regulatory Commission (ICRC) has said that the construction of the 3.5 billion dollar Bakassi Deep Seaport would soon begin.

This is contained in a statement issued by Ifeanyi Nwoko, ICRC’s Acting Head of Media and Publicity in Abuja on Monday.

Ewalefoh made this known at a High-level Stakeholders’ meeting where a statement of endorsement for the port project was signed.

The ICRC D-G who said the construction would commence under the administration of Gov. Bassey Otu of Cross River State, assured that the project would be completed in record time.

He said that his assurance was premised on four things which include the fact that the government of the state had demonstrated great commitment and zeal required for the project.

Others he said were the newly streamlined ICRC Public Private Partnership(PPP) processes; the securing of a financier for the project; and the support of all other stakeholders present.

Ewalefoh said the 3.5 billion dollar project whose funding has been secured from the African Import-Export Bank(Afreximbank), is to be executed as a PPP project.

He said that the ICRC had streamlined its PPP processes to ensure they were faster than before.

According to Ewalefoh, we are not compromising standards, we are only making the process more efficient which I have commenced as the D-G of ICRC.

He assured the Governor of Cross River that the project would be completed under his tenure with the support of the Ministry of Marine and Blue Economy, the Shippers Council and all the stakeholders.

“You have demonstrated that you have what it takes to do it, just like President Tinubu has given confidence to investors to bring their funds to Nigeria.

“This is not a project that you started, the baton was only handed over to you, but like the man on the last lap, you are running the fastest and you will cut the tape.

“With the team you have assembled and the activities that are going on, you will arrive at the destination of the Bakassi Deep Seaport.

“I am convinced that in your tenure, with your team, Bakassi Deep Seaport will be a reality to the people of Cross River state and Nigerians,” he said.

The D-G said that the port was very important as it would diversify the traffic from the Western Port and serve as a succour to the Eastern parts of Nigeria.

He added that the Bakassi Deep Seaport is an Agro-Value-Chain port that will explore the potential in the nation’s agricultural sector in the South-South part of Nigeria, the North as well as all of Africa.

Ewalefoh thanked Afreximbank for believing in the state and Nigeria as he reassured investors that Nigeria was a choice destination for investment opportunities.

The statement said a high point of the meeting was the signing of the statement of endorsement by all critical stakeholders to the projects including the ICRC and the Cross River State Government.

Others include the Nigerian Ports Authority (NPA) and Nigerian Shippers Council, among others. (NAN)(www.nannews.ng)

Edited by Sadiya Hamza

FG signs MOU with Russian firm to complete Ajaokuta steel coy

FG signs MOU with Russian firm to complete Ajaokuta steel coy

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By Martha Agas

The Federal Government has signed a Memorandum of Understanding (MoU) with the Russian firm, Tyazhpromexport (TPE), the original builders of the Ajaokuta Steel Plant, and members of its consortium in Moscow.

The move is part of President Bola Tinubu’s administration’s efforts to resuscitate the steel company and the National Iron Ore Mining Company (NIOMCO) in order to boost industrialisation in the country.

The MoU was signed by the Minister of Steel Development, Prince Shuaibu Audu, who led the Federal Government’s delegation, and the General Director of TPE, Mr Egorov Sergei Anatolevich, along with other members of the Russian consortium.

This was made known in a statement by Salamatu Jibaniya, the Head of the Press and Public Relations Department of the ministry, on Friday in Abuja.

The News Agency of Nigeria (NAN) reports that the Ajaokuta Steel Company Ltd. (ASCL), located in Kogi, was established in 1979 by the government of President Shehu Shagari to drive Nigeria’s modernity through industrialisation.

Jibaniya said that TPE and members of its consortium, comprising Novostal-M and Proforce Manufacturing Limited, were engaged for the rehabilitation, completion, and operation of the steel plant and NIOMCO, all located in Kogi.

She said the minister described the move as crucial and a bold step toward creating a sustainable foundation to achieve the industrialisation of Nigeria’s economy.

“The revival of the steel sector will also reduce importation of steel products into Nigeria, which is estimated at over four billion dollars annually, and will help save scarce foreign exchange,” he said.

According to the Jibaniya, the Nigerian delegation during the visit also inspected the facilities of Novostal-M, located in Balakovo in the Saratov region, and the private port facility of the company.

NAN reports that a TPE team visited the Ajaokuta Steel Plant and NIOMCO in August for a preliminary inspection, which led to the invitation to Moscow for the signing of the MoU.

The resuscitation of both the steel company and NIOMCO is expected to create more than 500,000 direct and indirect jobs for Nigerians.

The move is also crucial to achieving President Tinubu’s desire to grow the Nigerian economy to more than one trillion dollars by 2030. (NAN)(www.nannews.ng)

Edited by Peter Amine

FG adopts global best practices for CPI, GDP rebasing, NLSS

FG adopts global best practices for CPI, GDP rebasing, NLSS

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By Okeoghene Akubuike

The Federal Government has reaffirmed plans to adopt global best practices in rebasing the Consumer Price Index (CPI), Gross Domestic Product (GDP), and conducting the Nigeria Living Standards Survey (NLSS).

Dr Vitalis Obi, Permanent Secretary, Ministry of Budget and Economic Planning, made this commitment at a dialogue with experts on Friday in Abuja.

Obi said that rebasing the GDP and CPI using global best practices would provide a more accurate picture of the economy, including emerging technologies, and enable policymakers to formulate effective policies.

He explained that the process involved updating the base year and adjusting weights used in computations.

Obi said the NLSS captured household consumption and welfare conditions.

He said that updating the basket of goods and services used in calculating CPI would improve understanding of inflation trends, informing monetary and price stability.

Obi highlighted significant structural changes in various sectors since the last rebasing exercise in 2014, including rapid growth in technology and digital sectors: fintech, e-commerce, and digital services

“You will recall that the last rebasing exercise in Nigeria was concluded in 2014. Before the exercise, the country’s GDP was approximately 270 billion dollars.

“The rebasing saw the GDP surge to 510 billion dollars, positioning Nigeria as Africa’s largest economy and ranking 26th globally.

“The number of sectors increased from 33 to 46, providing a more accurate economic picture.

“These enabled policymakers to craft policies focused on job creation, poverty reduction, and informed investment decisions.

“Since then, Nigeria’s economy has undergone significant structural changes, particularly rapid growth in technology and digital sectors, including fintech, e-commerce, and digital services.”

Obi stated that the agricultural sector had experienced significant growth, marked by the emergence of new value chains, agribusinesses, and commodity exchange, alongside advancements in renewable energy.

Additionally, he said the entertainment and creative industry had expanded, notably with the rise of skits, and Nollywood and music production gaining widespread international recognition.

“There is also a shift into the Marine and Blue economy, as well as growth in real estate.

“The rebasing of the Consumer Price Index (CPI) and Gross Domestic Product (GDP) will capture these sectorial shifts and place the Nigerian economy on the right trajectory.

“The rebasing will assist all levels of government in controlling and coordinating economic and social activities, achieving development goals and aspirations for citizens.” Obi stated.

Prince Adeyemi Adeniran, Statistician-General of the Federation, noted that the NLSS survey, conducted every four to five years, generated national poverty headline rates and other household welfare indicators.

“The previous survey, conducted in 2018/2019 and published in 2020, revealed a poverty rate of 40.1 per cent.”

Adeniran emphasised that the current workshop aimed to inform experts, users, and stakeholders about the survey methodology and gather their input and advice.

“The ultimate goal is to ensure that the approaches used in implementing the NLSS and rebasing the GDP and CPI are sound, aligned with international best practices, and relevant to the Nigerian context.

“This gathering of experts represents a key segment of data users, vital for research, policy design, and programme monitoring.

“Your input will significantly enhance the robustness and comprehensiveness of the NLSS survey and rebasing processes.

“Upon completion, critical stakeholders will be invited to a validation session to review and deliberate on the preliminary results before their final public release.” (NAN)

Edited by Abiemwense Moru

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