IN THE ANALYSIS

The week ahead – Dark clouds

Nigeria’s current trend of spending more money on running the government than on building new infrastructure is unsustainable, the country’s top budget oversight official said. Low revenue collection and high recurrent costs have resulted in actual capital expenditure below ₦2 trillion ($4.88 billion) a year for a decade, Ben Akabueze, director-general of the Budget Office, said Tuesday in a virtual presentation. “Hence, the investments required to bridge the infrastructure gap are way beyond the means available to the government,” Akabueze said. Recurrent spending, allocated towards salaries and running costs, has accounted for more than 75% of the public budget every year since 2011, he said. Africa’s largest economy requires at least $3 trillion of spending over the next 30 years to close its infrastructure gap, Moody’s Investors Service said in November. The country’s tax revenue as a proportion of gross domestic product is one of the lowest globally, according to the International Monetary Fund. This comes as BudgIT said President Muhammadu Buhari has spent at least ₦10 trillion in his unsuccessful campaign to end the Boko Haram insurgency in the North-East as well as banditry in the North-West. In a new report, the civic-tech non-profit said federal agencies have utilised ...
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ANALYSIS

The week ahead – Target practice

The Inspector-General of Police, Mohammed Adamu, has set up the ...
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The economics of police brutality in Nigeria

During the COVID-19-induced-interstate travel ban, a Premium Times reporter counted ...
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The week ahead – #EndGame

The Petroleum Industry Bill (PIB), which passed its first reading ...
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Clouds in the sunshine state

On Saturday, Ondo State governor, Rotimi Akeredolu aims to match ...
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Video: The economic cost of Nigeria’s insecurity

Nigeria's security crisis is accelerating, and the rising insecurity has ...
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The week ahead – All systems fail

Vice-President Yemi Osinbajo said the FG may reopen land borders ...
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The growing Sino-American rivalry and Africa’s place in it

In a December 2018 speech to the Heritage Foundation, the ...
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/ Analysis, Reports

The week ahead – Same old feeling

The Nigeria Labour Congress and the Trade Union Congress have ...
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The week ahead – Sabi pass

A new gazette by the Attorney General of the Federation ...
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Violence in Nigeria’s heartbeat

Elections in Nigeria, especially in the Fourth Republic, are nothing ...
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/ Analysis, Reports

The week ahead – Underwater

Suspected members of the Islamic States West Africa Province (ISWAP) ...
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Video: The Irish Sea and the world

Sir Jonathan Jones, the permanent secretary in the United Kingdom’s ...
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/ Analysis, Reports

The week ahead – Withdrawal syndrome

Petrol prices in Nigeria will hit their highest ever in ...
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Beggar thy neighbour: Between Nigeria and Ghana

In the last few months, Nigeria and Ghana have engaged ...
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/ Analysis, Reports

The week ahead – Reality shift

Nigeria expects to spend a record ₦12.65 trillion ($33.20 billion) ...
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Through the roof: A look at inflation and unemployment

One of the economic legacies of the Buhari administration will ...
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/ Analysis, Reports, Research

Turkey expands to Nigeria’s borders

Over the last few years, Turkey has continued to consolidate ...
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Video: Nigeria’s jobs problem

The latest report on unemployment by the NBS makes for ...
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The week ahead – A thousand piece jigsaw

An Islamic court in northern Nigeria has sentenced a 22-year ...
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Video: The risks of PAGMDI

The Presidential Artisanal Gold Mining Initiative (PAGDMI) officially kicked off ...
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The week ahead – Exodus

The FG on Tuesday raised the fine for hate speech ...
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Chart of the week: Petrol in West Africa

Of the 18 countries in West Africa, nine, including Nigeria, ...
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