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Presidential spokesman Femi Adesina said Nigeria have become a better country than it was before President Muhammadu Buhari’s election in 2015 Adesina in an article to commemorate Buhari’s six years in office titled “The Buhari administration at six: counting the blessings one by one”, reeled out achievements of the Buhari administration in six years. Adesina […]
Even as the pandemic continues to ravage the world, some countries have reported continued theft of Covid-19 response funds.
In Africa, a number of countries have reported rampant corruption and theft of cash and other incentives meant to caution against the impacts of the disease.
Below are countries that have reported cases of corruption on Covid-19 funds.
Malawi
Malawi police arrested 64 people in April in connection with the misuse of Covid funds.
An audit report ordered by President Lazarus Chakwera revealed that government officers and the private sector had misspent about $1.3 million of the funds through procurement and allowance irregularities.
OUTSIDE THE BOX BY ALEX OTTI
âWhen you lose your job, the unemployment rate isnât 4%, it is 100%â
âThomas Freidman
âThere is no such thing as acceptable level of unemployment because hunger is not acceptable, poverty is not acceptable, poor health is not acceptable and a ruined life is not acceptableâ â Hubert H, Humphrey
Nigeriaâs National Bureau of Statistics (NBS) published its report recently on unemployment. In the said report, the rate of unemployment as at the last quarter of 2020 stood at 33.3% representing an increase of 6.2% when compared with the Quarter 2 unemployment rate of 27.1%. Breaking the numbers down, the NBS stated that the total labour force, meaning persons within the ages of 15 and 64, was 122m, showing an increase of 5m from the labour force of 117m people in Quarter 2. The countryâs underemployment rate was put at 22.8%. The NBS Report further stated that youth unemployment (those aged between 15 and 34), incr
Carnegie Endowment for International Peace
Source: Getty
Summary: Many African countries have placed economic diversification high on the policy agenda, yet they first need to define what it means in their specific structural and socioeconomic contexts.
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Summary
For decades, economic diversification has been a policy priority for low- and middle-income economies. In the words of former managing director of the International Monetary Fund (IMF), Christine Lagarde, “We know that economic diversification is good for growth. Diversification is also tremendously important for resilience.” Unfortunately, this goal continues to elude many African countries. In fact, the continent is home to eight of the world’s fifteen least economically diversified countries. This reality weakens the foundation of their economic transfomation and slows their pace of progress. It also makes these countries part