preston's blog
INTRODUCTION
Critical to attaining sustainable food security in Nigeria is the development of agriculture in the economy. The full potential of the nation’s agriculture sector has not been realized largely due to gross neglect of the sector during and after the oil boom era, as well as weak policy formulation and implementation. Though blessed with a favorable farming climate, and having 83.7% of its land suitable for farming purposes, only about 40% of Nigeria’s agricultural land is cultivated (Oxford Business Group, 2016).
Election is around the corner, and various political candidates have voiced out their plans and objective of addressing the high rate of unemployment in the country if they eventually emerge the winner. The current administration intends to expand on its established platforms such as the N-Power and the Anchor Borrowers’ Programme, and to focus on the tech and creative industries so as to create millions of employment for its teeming population. However, these current programmes still need to be assessed to determine if they are sufficient to have the desired impact.
The Federal Executive Council (FEC) has recently approved a new policy towards maintaining public buildings in the country. This policy is seen as a step in the right direction in solving the rising rate of abandonment of projects or buildings by the Nigerian government. For years, many properties belonging to the Federal Government have suffered from either outright abandonment or underutilization, thereby constituting danger to lives and property. Also, apart from the perceived dangers, most of these buildings are very suitable to be converted into other use other than the purposes for which they were originally conceived.
The Foreign Trade in Goods Statistics (Q2 2018) report released by the National Bureau of Statistics (NBS) indicates that the total value of foreign trade in Nigeria fell. The report puts total value of merchandise trade at N6,569.98 billion for the 2018 Q2, this is an 8.89% decrease from the value recorded in 2018 Q1.
NBS attributes the decline in total trade to major contractions in both imports and exports.
The Nigerian Bureau of Statistics(NBS) released its GDP Report for the second quater of 2018.
Based on the report, the following observations were made on the Nigerian GDP:
In its 2018 African Economic Outlook, African Development Bank (AfDB) provided some interesting indicators on Nigeria in relation to other W/African countries.
Highlights contained in the publication as it relates to Nigeria includes:
Transparency International posts 10 interesting quotes about corruption and transparency that will inspire. Here is a summary of the quotes in bullets:
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