IN THE ANALYSIS
The week ahead – On the mandate
Nigeria has revised its 2024 budget upwards by ₦1.5 trillion to ₦27.5 trillion ($32.76 billion), Budget Minister Atiku Bagudu said, after increasing the oil price benchmark to $77.96 and lowering the naira exchange rate assumption to ₦750 per dollar. Also, the government is seeking to borrow $8.6 billion and €100 million. President Tinubu said the Buhari administration approved the 2022-2024 external borrowing rolling plan on 15 May 2023. Meanwhile, the Socio-Economic Rights and Accountability Project has urged the World Bank to halt loans to Nigeria’s 36 states, citing allegations of mismanagement of public funds. While we think that the oil assumption revisions are sound and grounded in the current realities of global and domestic outlook, oil production, which is currently at 1.43 million barrels per day and up from 1.23 million barrels per day in the previous month, is still behind the 1.78 million barrels per day target set in the 2024 budget submission. The last time Nigeria’s monthly production averaged 1.7 million per day was in May 2020. However, if the current trajectory continues, the target will be achievable, which can only mean positives for Nigeria's precarious fiscal position. Meanwhile, it is still largely dependent on oil and gas ...
ANALYSIS
Africa Watch – Friends of enemies
South Africa, on Thursday, announced the organisation of joint manoeuvres ...
2023 elections, the watchdog and the liers in wait
The passage of the Electoral Act 2022 into law in ...
The Independent Petroleum Marketers Association of Nigeria (IPMAN) has said ...
In May last year, former Anambra governor, Peter Obi, quit ...
Who clinches Government House Enugu?
The PDP has maintained a stronghold on Enugu State politics ...
Video: The potential impact of insecurity on the 2023 elections
A survey by SBM Intelligence indicates that the 2023 elections ...
Everything hinges on PVC collection
On Tuesday, 17th January 2023, Professor Mahmood Yakubu, the Chairman ...
Africa Watch – Somalia’s latest shot
Somalia’s government-led forces have captured an al-Shabaab stronghold on the ...
2023 election security brief, 23 January
Nigeria's 2023 elections are a mere four weeks away, and ...
Assessing Tinubu’s chances at the polls
Nigeria's South-West is generally considered the country’s most developed and ...
Reclaiming the country’s food basket
When we say the world is interconnected, we typically think ...
The week ahead – Cuckoo in the nest
The Chairman of the Independent National Electoral Commission (INEC), Mahmood ...
Is the Presidency a bridge too far for Turaki Adamawa?
Undisputedly, the most experienced of the presidential candidates at this ...
Lagos as the ultimate prize in Nigeria’s politics
Lagos is an important factor in the upcoming elections for ...
Chart of the week: PVC collection survey summary
In late December 2022, SBM Intelligence surveyed 6588 likely voters ...
2023 election security brief, 16 January
With Nigeria's 2023 elections fast approaching, governance is taking the ...
Africa Watch – Maintaining the act
The 49 Ivoirien soldiers convicted of undermining Mali’s state security ...
