Tag: report

  • Surge in returned migrants to Nigeria in 2023, says report

    Surge in returned migrants to Nigeria in 2023, says report

    Statisense, a leading Artificial Intelligence (AI) data analytics company, has released a comprehensive report detailing the significant increase in the number of returned migrants to Nigeria in 2023.

    The report highlights the distribution of the returnees across the country’s top ten states, providing valuable insights into migration patterns and their implications.

    According to the report posted on X, Yobe State recorded the highest percentage of returned migrants, with a substantial 30%.

    This figure underscores Yobe’s significant role as a destination for returning nationals, possibly influenced by its ongoing development and post-conflict reconstruction efforts.

    Ogun state followed, accounting for 20.4% of the returnees.

    Ogun’s position as a major economic hub, with its growing industrial and agricultural sectors, likely contributes to its attractiveness for migrants seeking new opportunities and stability.

    Kano State, an important commercial centre in Northern Nigeria, received 10.6% of the returnees.

    The state’s established trade networks and vibrant local economy may be key factors drawing returnees back to Kano.

    The Federal Capital Territory (FCT) and Edo State both saw a returnee rate of 7.8%. The FCT, with Abuja as the nation’s capital, remains a central destination due to its political significance and relative economic opportunities.

    Edo State, on the other hand, has been actively involved in various reintegration programs aimed at supporting returned migrants, which could explain its high percentage.

    Benue State accounted for 6.1% of the returnees. Known for its rich agricultural resources, Benue provides ample opportunities for those looking to re-establish themselves in farming and related industries.

    Read Also: Nigeria agric census report ready

    Lagos State, Nigeria’s largest city and economic powerhouse received 5.8% of the returnees. Despite its lower percentage compared to other states, the absolute number of returnees to Lagos is significant given the city’s vast population and economic activities.

    Gombe State, with 4.8% of the returnees, continues to be a notable destination, likely due to its emerging economic activities and ongoing development projects.

    Anambra and Delta States rounded out the top ten with 3.4% and 3.3% of the returnees, respectively. Both states have been working on improving infrastructure and economic opportunities, which are essential for supporting returnee populations.

  • Fed Govt collates report on state of human rights

    Fed Govt collates report on state of human rights

    The Federal Government has begun the process of collating information on the state of human rights in the country.

    The information is required for the fourth cycle of the United Nations Human Rights Universal Periodic Review (UPR).

    UPR is a unique process which involves a review of the human rights records of all UN member states.

    It is a state-driven process, under the auspices of the United Nations Human Rights Council (UNHRC).

    It provides the opportunity for each state to declare actions taken to improve the human rights situations in their countries and to fulfil their human rights obligations.

    Stakeholder consultations continued last week across the six geo-political zones to collate information for the UN fourth cycle UPR.

    Solicitor-General of the Federation and Permanent Secretary Federal Ministry of Justice, Mrs. Beatrice Jeddy-Agba, while addressing delegates at the Southwest engagement session in Lagos, called on stakeholders in the justice and human rights sector to help generate accurate and up-to-date information for the review.

    Represented by the Secretary to the Inter-Ministerial Committee (IMC), Princess F. Frank-Chukwuani, she said: “This stakeholders’ engagement is part of the work plan for collating information and useful data from various stakeholders in the Southwestern geo-political zone of the country.

    “This is in line with the UN guidelines on national reporting, which stipulates that a country’s national report should be independent, objective, transparent, and inclusive…

    “The IMC is tasked with the mandate of overseeing the preparation of Nigeria’s national report to the UNHRC and has set in place modalities in the preparation of Nigeria’s report among which are stakeholders’ engagement throughout the six geo-political zones of the country.

    “The consultations were convened by the government for purposes of collating information which will be used in the preparation of our national report.”

    Read Also: Why we must correct Africa’s poor leadership style’

    At the event were stakeholders from ministries, departments and agencies (MDAs), non-governmental organisations, civil society organisations, members of the Nigerian Bar Association (NBA), International Federation of Women Lawyers (FIDA) Nigeria, among others.

    The fourth review process began in September 2022, and in line with its workplan, Nigeria is expected to prepare and submit the report to the UNHRC in October 2023 for its review during the 45th Session of the UPR Working Group Session in Geneva scheduled to take place in the first quarter of 2024.

    Secretary to the Government of the Federation inaugurated the IMC, which is co-chaired by the Solicitor General of the Federation/Permanent Secretary, Federal Ministry of Justice (FMoJ), Mrs Beatrice Jeddy-Agba, and the Permanent Secretary Ministry of Foreign Affairs (MFA), Adamu Ibrahim Lamuwa; with Princess F. Frank-Chukwuani as the Secretary.

    The objectives of the UPR are to review the fulfilment of the human rights commitments and obligations of all UN member states (as set out in the UN Charter, the Universal Declaration of Human Rights and all Human Rights Instruments to which the state is a party); and to improve the human rights situation in all countries and address human rights violations wherever they occur, amongst others.

    Nigeria has been involved in the past UPR process and was reviewed in the first cycle which was held in 2009.

    The second and third review cycles were in 2013 and 2018.

  • Nigeria fourth cheapest country to live, says report

    Nigeria fourth cheapest country to live, says report

    A recent report has ranked Nigeria as the fourth cheapest country to live in the world.

    Pakistan was ranked number one while Egypt and India came second and third respectively.

    The cost of living is the money needed to sustain a certain comfort level. The cost of living covers basics like housing, groceries, taxes, and healthcare.

    Some countries have a very high cost of living, particularly in areas surrounding large cities. For example, in the United States, cities like New York and San Francisco have a very high cost of living, while areas such as rural Mississippi, Kansas, or Oklahoma may be notably more affordable.

    Read Also: Nigeria ranks 36th in global military firework strength

    Some nations have a very low cost of living, which can make them attractive destinations for ex-pats, retirees, and others interested in reducing their expenses.

    Here is a list of cheapest countries to live in the world:

    1. Pakistan

    2. Egypt

    3. India

    4. Nigeria

    5. Libya

    6. Syria 

    7. Nepal

    8. Bangladesh

    9. Uzbekistan

    10. Turkey

    11. Colombia

    12. Iran

    13. Kenya

    14. Kyrgyzstan

    15. Argentina

    16. Azerbaijan

    17. Ukraine

    18. Indonesia

    19. Russia

    20. Sri Lanka

    21. South Africa

    22. China

    23. Brazil

    24. Thailand

    25. Venezuela

    26. Mexico

    27. Poland

    28. Portugal

    29. Spain

    30. Saudi Arabia

    40. Japan

    41. UAE

    42. Sweden

    43. Italy

    44. UK

    43. Germany

    44. Netherlands

    45. Canada

    46. Austria

    47. Finland

    48. France

    49. South Korea

    50. Israel

    51. USA

    52. Australia

    53. Denmark

    54. Norway

    55. Singapore

    56. Switzerland 

  • Polls: Buhari’ll win 60 per cent – Report

    GOING by the February 7 report of New York-based global research and political risk solutions firm Eurasia Group, President Muhammadu Buhari will win Saturday’s election by 60 per cent.

    The group, which undertakes investment partnerships, consultancy and risk advisory responsibilities in about 100 countries, said the odds against Buhari’s main challenger, Atiku Abubakar of the Peoples Democratic Party (PDP), have positioned the incumbent to retain his seat.

    It identified the odds as the divided support being enjoyed by the former vice president from key elements in the rival party.

    Such elements, according to the Eurasia Group, would rather exert their energies and resources on the battle to retain their seats in their various constituencies.

    The group listed such actors as the governors in the PDP-controlled states and the Director-General of the Atiku Presidential Campaign Organisation, Senator Bukola Saraki, who is battling to retain his seat in the upper chamber as the representative of the Kwara Central Senatorial Zone.

    The report said: “As we have previously noted, key actors in Atiku’s camp – including his campaign’s Director -General Bukola Saraki, key powerbroker Governor Nyesom Wike of the oil-rich Rivers State, and Southeast governors from his PDP – had been disengaged from his election campaign.

    “Wike was annoyed by Atiku’s failure to consult him on key decisions, Saraki remains distracted by a tough Senate reelection battle in Kwara State, and the Southeast governors are hampered by many conflicting motivations, including their own lack of political clout (which makes them reluctant to overtly challenge the federal government) and their wariness of Atiku’s running mate Peter Obi, a former governor of the southeastern Anambra State who they view as a political outsider.

    “The lack of enthusiasm on the part of some PDP governors is a problem for Atiku because these officials control significant discretionary funds at the state level (known as “security votes”) that are easier to access without triggering graft concerns.

    “They can also leverage strong relationships with security, judicial, and election officers in their respective states. Governors are thus critical to mobilising voter turnout on Election Day.

    “With 23 in office compared to the PDP’s 12, the APC already has an edge; unmotivated PDP governors will only reinforce that advantage by making it harder for the opposition to mobilise and sustain voter support on Election Day.”

    Two APC governors, Aminu Tambuwal (Sokoto) and Benue State counterpart Samuel Ortom, defected to the PDP last year. But the governors are battling to win their states for their new parties.

    On the edge the incumbent has over Atiku, the Eurasia Group said President Buhari’s All Progressives Congress (APC) has a widespread political structure to boost voter mobilisation and solidify Buhari’s advantage.

    The group noted that the heightened anxiety triggered by the suspension of Chief Justice of Nigeria (CJN) Justice Walter Onnoghen by President Buhari was not enough to turn the table against the incumbent.

    CJN Onnoghen was suspended by the President on January 25 following allegations on false declaration of assets against him by the Code of Conduct Bureau (CCB). The CCB has since charged the CJN before the Code of Conduct Tribunal (CCT).

    Justice Onnoghen is expected to submit his response to the charges against him to the National Judicial Council (NJC) today.

    The group ruled out the possibility of protests against Buhari’s victory.

    It said: “These trends support our view that widespread violence is unlikely following the 16 February vote. We have repeatedly argued that Atiku’s voters do not match Buhari’s in passion and are unlikely to risk their lives on the streets for him.

    “Though Buhari’s decision to suspend the Chief Justice triggered widespread criticism and stoked passions (along with fears about a more Buhari second term), many voters blame the judiciary for not moving quickly to force CJN Onnoghen’s resignation after he admitted he had violated rules regarding declaration of assets.

    Thus should Atiku lose, as we expect, there will be few motivated stakeholders to encourage or instigate serious violence. Instead, we expect PDP governors to quickly turn their attention to fighting to retain their own jobs in the state elections on March 2.”

  • Atiku paid his way into the US, says report

    A TEMPORARY suspension of a travel ban linked to decade-old bribery scandals paved the way for former vice president and Peoples Democratic Party (PDP) presidential candidate Atiku Abubakar to make his Washington DC trip last month, a report in Reuters said yesterday.

    The report quoted diplomats and those with the trip.

    It (report) said several U.S. diplomats and others familiar with the visit told the news service that Atiku, has been banned from entering the United States (U.S.) after he allegedly featured in two prominent corruption-related investigations.

    Atiku’s visit to Washington was put together with the help of two U.S. lobbying firms. Holland & Knight. The firms were hired by Atiku personally in December to help him secure a visa, in part by enlisting members of Congress to request one on his behalf, according to a lobbyist for the firm. It has been paid $80,000 so far, the report said.

    Ballard Partners was hired by the PDP at a rate of $90,000 per month in September, before Atiku emerged as the party’s candidate, according to U.S. disclosure filings.

    The Nation, in a January 24 report titled: “APC enraged over PDP’s N388m U.S. lobbying deal”, said that the opposition party had voted huge cash to push its ongoing lobbying in the U.S.

    In the report, former Aviation Minister Osita Chidoka said the contract was designed to “promote free and fair elections”.

    For Atiku’s supporters believed that his visit to the U.S. on Jan. 17 and 18 without being arrested showed that the allegations were baseless.

    “It is fake news, and we showed that,” said Harold Molokwu, who heads the U.S. chapter of Atiku’s People’s Democratic Party of Nigeria.

    Several U.S. government officials said the travel ban was waived temporarily by the U.S. State Department after lobbyists mounted a campaign among congressional lawmakers arguing that the administration should not snub the leading challenger to President Muhammadu Buhari in the Feb. 16 election.

    A source said Atiku was allowed to enter the U.S. because the authorities saw no need to antagonise him.

  • 92 start-ups raise $118.5m in nine months, says report

    Ninety-TWO start-ups have raised $118.5 million, according to the Nigerian Startup Funding Report.

    The report, which covers the last three quarters of the year, was done by Techpoint.africa, a media platform for startups, entrepreneurship, innovation, and technology in Africa.

    According to the report, in the first quarter,14 startups, which are mostly foreign investors, raised $9,241,196.

    During the period under review, equity investment stood at $5million; $3.5million from bridge funding; $491,196 came from grants; $250,000 from seed funding, and $491,196 from grants.

    In the second quarter, the report said $73,685,003 was raised by 41 startups, which are mostly foreign investors. Their grants made up about 13.9 per cent of the amount raised.

    During the third quarter, the report said $35,552,585 was raised by 37 startups, which are mainly foreign investors.

    Prominent deals in the quarter, according to the report, included Series A funding for Mines, Paystack and Tizeti, which got $13 million, $8 million and $3million. Paga got Series B2 funding worth $10 million.

    The financial sector got the leading share of 87.8 per cent of the total funding of the quarter.

    The sector got $31, 199, 638; others received $4,337,948.

    With 14 out of 36 deals, grants had the highest deals for the quarter under review. Other deals were in the crowdfunding and equity investment segment.

    The report observed that though more local investors participated in funding during the quarter, foreign fund providers make up 97.7 per cent.

    Local funders provided $243, 003, foreign funders invested $34,710,975 and $583,608 came from crowdfunding.

    Although grants accounted for the highest number of deals, a single deal of series C funding accounted for 64 per cent of the total funding and 98 per cent in value. Funding provided by international funders accounted for two thirds of the total funds for the quarter.

    According to the report, grants remained the main source of funding for startups. Fifty-five percent of the grants came from startup competitions.

    The report observed that the drive to promote financial inclusion is taking shape.

    According to the report, startups in the financial services sector had the highest number of deals, accounting for 75 per cent of the total funding.

    Other sectors included media, which had two deals and ecommerce one.

    Major funders included Techpoint.ng, EchoVC, Fola Laoye, Amaya Capital Partners, Omidyar Network.

    CRE Venture Capital, GSMA Ecosystem Accelerator Innovation Fund, Merck Accelerator, Yomi Martins, Ford Foundation, CcHUB Growth Capital and TLcom Capital.

    Start ups, which benefited during the period included Life Bank, Rensource, FarmCrowdy, MyPadi, Budgetier, Unicorn.ng, Touchable Pictures, the Footwear Academy, Clintonel Technologies, Ogwugo, LifeBan, Handyman and Terragon Group.

  • Report: industry now active in ESG development agenda

    Major participants in the reinsurance and insurance industry are becoming actively involved in shaping the Environmental, Social and Governance (ESG) agenda, a report by A.M. Best has shown.

    Director, Market Development and Communications, A.M. Best, Dr. Edem Kuenyehia, made the report made available to the press in Lagos.

    According to the report, the activity in the development of ESG agenda has been huge, giving operator’s unique role as risk managers, institutional investors, and risk carriers on behalf of a wide range of industries.

    The report read: “The industry also faces critical risks and opportunities associated with climate-change trends and challenges to close the protection gap.

    “Publicly listed multi-national insurance groups are well aware of shareholders’ expectations and try to align both their long-term investment and underwriting strategies accordingly. Increasing public awareness puts pressure on all types of financial institutions to consider ESG factors and their potential impact on reputational and operational risks.”

  • Report: Govt’s revenue generation performance down 40%

    A Banking Sector Report launched yesterday in Abuja said the  government’s rvenue generation performance dipped by 40 per cent.

    The report which was prepared by Afri-Invest West Africa, urged the Federal Government to adopt a pragmatic approach to shore up its independent revenue.

    Presenting the report, the Managing Director, Afri-Invest West Africa, Ike Chioke, said it focussed on seven critical areas of the economy namely: oil and gas sector; power sector reform; boosting competitiveness; transportation and infrastructure; human capital development; security and building democratic institutions.

    The report attributed the underperformance of revenue generation to what it called, “political distractions caused by election campaigns.”

    According to the report, “the Federal Government plans to generate 41.6 per cent of its revenues from oil and the remainder from taxes, independent revenue and recoveries accounting for 40.5 per cent of total projected revenues and have historically  underperformed.

    “Given these considerations, as well as political distractions, we estimate a significant underperformance in revenues by 40 per cent. Hence, we estimate the fiscal deficit to expand to N4.4 trillion above budget estimate of N1.9 trillion, representing 3.5 per cent of nominal Gross Domestic Product-well above the three per cent threshold prescribed by the Fiscal Responsibility Act.

    With regard to the oil and gas sector, he said: “There is need to revisit the Petroleum Industry Bill to ensure a full deregulation of the downstream petroleum sector.”

    The report noted that while the assumption for oil revenue was achievable, “that of independent revenue and recoveries remained a source for concern.”

  • Report: Rising temperatures ‘ll push millions into poverty

    A report released by the Intergovernmental Panel on Climate Change (IPCC) detailing progress and pathways to limiting global warming to 1.5 degrees Celsius has said climate change has literally set the planet on fire, with millions of people in Africa already feeling the impacts of poverty.

    Commenting on the report, Pan Africa Director of Oxfam International, Mr. Apollos Nwafor, said:  “…..The IPCC just showed that things can get much worse. Settling for 2 degrees would be a death sentence for people in many parts of Africa.”

    He said the faster governments embrace the renewable energy revolution and move to protect communities at risk, the more lives and livelihoods that would be spared.

    “A hotter Africa is a hungrier Africa. Today, at only 1.1 degrees of warming globally, crops and livestock across the region are being hit and hunger is rising with poor small scale women farmers, living in rural areas suffering the most. It only gets worse from here,” Nwafor said.

    He warned that to do nothing more and simply follow the commitments made in the Paris Agreement condemns the world to three degrees of warming, and that the damage to the planet and humanity would be exponentially worse and irreparable.

    He, however, noted that what gives him hope is that some of the poorest and lowest emitting countries are now leading the climate fight. “We’ve moved from an era of ‘you first’ to ‘follow me’ – it’s time for the rich world to do just that,” he added.

    According to him, Oxfam has called for increased, responsible and accountable climate finance from rich countries that support small scale farmers, especially women to realize their right to food security and climate justice.

    He stressed that while time is short, there is still a chance of keeping to 1.5 degrees of warming.

    He said there was need to reject any false solution like Large Scale Land Based Investments that means kicking small scale farmers off their land to make way for carbon farming and focus instead on stopping the use of fossil fuels, starting with an end to building new coal power stations worldwide.

    Nwafor regretted that natural disasters such as droughts and floods have been thwarting development on the African continent.  He said food insecurity was as a result of inefficient agricultural systems and an  obvious indicator of poverty on the continent.

     

  • Nigeria leads countries fueling inequality, says report

    report by Development Finance International (DFI) and Oxfam have revealed that Nigeria and Singapore are among a group of governments that are fueling inequality.

    This submission is contained in a newly released edition of the Commitment to Reducing Inequality Index developed by Oxfam and DFI.

    The Index ranked 157 countries on their policies on social spending, tax, and labour rights -three areas the organisations say are critical to reducing inequality.

    The report found that there was a clear divergence between governments such as the Republic of Korea, Indonesia, and Georgia that are taking positive steps to reduce the gap between rich and poor, and governments that are making it worse.

    However, the report said all countries, even those at the top, could do much more.

    The Index was released ahead of this week’s meeting of finance ministers, central bank governors, and other economic leaders at the World Bank and International Monetary Fund Annual Meeting in Bali, Indonesia.

    The Index shows that “Nigeria ranks last for the second year in a row due to low social spending, worsening labor rights violations, and poor tax collection. The ranking reflects the well-being of the country’s population: one in 10 children die before their fifth birthday.”

    With regards to Singapore, Oxfam and DFI said the country is now in the bottom 10 countries in the world at tackling inequality ranking 149, despite being among the world’s wealthiest nations. This ranking the report said, “is in large part, to a new indicator on the extent to which a country’s policies enable corporate tax dodging.  It also has no minimum wage to its workers, except for cleaners and security guards.”

    By comparison, the Republic of Korea is said to have taken significant steps to tackle inequality – boosting the minimum wage by 16.4 percent, increasing taxes on wealthy people and corporations, and expanding social spending.   Other countries making progress include Georgia, which increased spending on education by almost 6 percent in 2017– more than any other country– and Indonesia, which increased its minimum wage by nearly 9 percent last year.

    Denmark topped the Index thanks to a long history of policies that have delivered high and progressive taxation, generous social spending, and some of the best protections for workers in the world. However, recent Danish governments are rolling back many of these policies and inequality has risen rapidly.

    Countries such as Argentina and Brazil also scored well because of actions taken by previous administrations. However, a 20-year social spending freeze in Brazil and austerity measures in Argentina are putting this progress at risk.

    China was reported to spend more than twice as much of its budget on health than India, and almost four times as much on welfare spending, showing a much greater commitment to tackle the gap between rich and poor.

    Inequality slows economic growth, undermines the fight against poverty and increases social tensions.  The World Bank predicts that unless governments tackle inequality then the goal of eradicating extreme poverty by 2030 will not be met and almost half a billion people will still be living in extreme poverty.

    Winnie Byanyima, Oxfam International’s executive director, said: “Simply put, inequality traps people in poverty. We see babies dying from preventable diseases in countries where healthcare budgets are starved for funding, while billions of dollars owed by the richest are lost to tax dodging. We’ve heard from women living on poverty wages and facing hunger, seeing none of the wealth they create. None of this is inevitable. Governments often act like they’re committed to fighting poverty and tackling inequality—this Index shows us if their actions match their promises.”