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FG, states debt portfolio hits N28.63trn – NBS

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FG, states debt portfolio hits N28.63trn – NBS

The National Bureau of Statistics (NBS) said on Friday that the total public debt portfolio of the Federal Governmet and the State Governments as of March 31 was N28.63 trillion.


The NBS made this known in its Nigerian domestic and foreign debt report released in Abuja.

The bureau said that further disaggregation of Nigeria’s total public debt showed that N9.99 trillion which represented 34.89 per cent was external.

It stated that the domestic debt was N18.64 trillion which represented 65.11 per cent of the total debt.

“States and Federal Capital Territory domestic debt was put at N4.11 trillion with Lagos State accounting for 10.8 per cent of the total domestic debt stock.

“Yobe State has the least debt stock in this category with a contribution of 0.7 per cent” the NBS stated.

Edited By: Ejike Obeta (NAN)

Mustapha Sumaila: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

Health

School feeding programme gulps over N500m during Lockdown – Minister

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The Federal Government expended about N523.3 million on school feeding programme during the lockdown against the coronavirus pandemic.


The Minister of Humanitarian Affairs, Disaster Management and Social Development (MHADMSD), Sadiya Farouq, announced this at the Presidential Taskforce briefing on COVID-19 on Monday in Abuja.

Farouk made the revelation against the rumours and speculations going around one of our key interventions of the government – the Home Grown School Feeding Programme.

She said that the programmed was modified and implemented in three states following a March 29th, Presidential directive.

“It is critical at this juncture to provide details that will help puncture the tissue of lies being peddled in the public space.

“The provision of ‘Take Home Rations’, under the modified Home Grown School Feeding programme, was not a sole initiative of the MHADMSD.

“The ministry, in obeying the Presidential directive, went into consultations with state governments through the state Governor’s Forum, following which it was resolved that ‘take-home rations’, remained the most viable option for feeding children during the lockdown.

“So, it was a joint resolution of the ministry and the state governments to give out take-home rations.

“The stakeholders also resolved that we would start with the FCT, Lagos and Ogun states, as pilot cases,’’ the minister said.

According to her, each takes home ration was valued at N4,200 and that the figure was arrived at with proper consultation.

The minister said that the figure generated from statistics provided by the National Bureau of Statistics (NBS) and the Central bank of Nigeria (CBN)

“According to statistics from the NBS and CBN, a typical household in Nigeria has 5.6 to six members in its household, with three to four dependents.

“So, each household is assumed to have three children.

“Based on the original design of the Home Grown School Feeding programme, long before it was domiciled in the ministry, every child on the programme receives a meal a day.

“The meal costs N70 per child.

“When you take 20 school days per month, it means a child eats food worth N1,400 per month.

“Three children would then eat food worth N4,200 per month and that was how we arrived at the cost of the ‘take-home ration’.

“The agreement was that the federal government will provide the funding while the states will implement.

“To ensure transparency in the process, we partnered with the World Food Programme (WFP) as technical partners.’’

She said that her ministry invited government agencies like the EFCC, CCB, ICPC, DSS and some NGOs to monitor the process.

“TrackaNG monitored and gave daily updates validating the programme.

“In the FCT, 29,609 households were impacted, 37,589 households in Lagos and 60,391 in Ogun, making a total of 124,589 households impacted between May 14, and July 6.

“If 124,589 households received take-home rations valued at N4,200, the amount will be N523,273,800.

Edited By: Bola Akingbehin/Abdulfatah Babatunde (NAN)

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Economy

Nigeria’s inflation rate hits 12.56% – NBS

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The National Bureau of Statistics (NBS) says Consumer Price Index, (CPI) which measures inflation increased to 12.56 per cent year-on-year in June 2020.


The NBS made this known in its CPI and Inflation Report for June released on Friday.

It stated that the report showed that June inflation was 0.16 per cent points higher than the rate recorded in May which was 12.40 per cent.

It however disclosed that the increases were recorded in all

Classification of Individual Consumption by Purpose

(COICOP) divisions that yielded the headline index.

The bureau explained that on month-on-month basis, the headline index increased by 1.21 per cent in June and this was 0.04 per cent rate higher than the rate recorded in May which was 1.17 per cent.

It said the percentage change in the average composite CPI for the twelve months period ending June, over the average of the CPI for the previous twelve months period was 11.90 per cent, representing a 0.11 per cent point increase from 11.79 per cent recorded in May 2020.

The NBS noted that the urban inflation rate increased by 13.18 per cent year on year in June from 13.03 per cent recorded in May 2020 while the rural inflation rate increased by 11.99 per cent in June 2020 from 11.83 per cent in May 2020.

According to the bureau, on month on month basis, the urban index rose by 1.23 per cent in June 2020 up by 0.05 from 1.18 per cent recorded in May 2020 and the rural index also rose by 1.19 per cent in June up by 0.03 from the rate recorded in May 2020 which was 1.16 per cent.

It stated that the corresponding 12 months year on year average percentage change for the urban index was 12.50 per cent in June 2020.

It added that this was higher than 12.36 per cent reported in May 2020 while the corresponding rural inflation rate in June 2020 was 11.36 per cent compared to 11.26 per cent recorded in May 2020.

Edited By: Sadiya Hamza (NAN)

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Economy

Sokoto, not one of poorest state in Nigeria, says Gov Tambuwal

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Sokoto

Gov. Aminu Tambuwal of Sokoto State says his state is not one of the poorest in Nigeria, contrary to a current report by the National Bureau of Statistics (NBS).

Tambuwal made this clarification in a statement in Sokoto on Monday by Malam Muhammad Bello, his Special Adviser on Media and Public Affairs.

The governor spoke while receiving a report entitled: “Sokoto Development Plan: 2020-2025”.

The April 2020 Nigerian Living Standards Survey (NLSS) report released by the NBS covering the year 2019, indicated that nine of top 10 poorest states in Nigeria are from the northern region, listing Sokoto, Taraba and Jigawa as among the poorest.

“I do not intend to join issues with the NBS, but I appeal to them to come clear on their variables and how they do their assessments of poor states in Nigeria.

“We also want to know how NBS arrived at Sokoto being the poorest.

“We know that, as a matter of fact, something must be fundamentally defective and wrong with their processes and the outcome of those processes.

“The fact of the matter is when you look at the programmes we are implementing in Sokoto State, they are people-friendly.

“They are promoting and supporting the vulnerable, the poorest of the poor.

“Even, what we are doing through Zakkat and Waq Commission (SOZECOM) alone, I am not aware that there is any state that is doing as much,” Tambuwal said.

He said that his administration had spent N4 billion to uplift the businesses of over 200 small scale traders across the 23 local government areas of the state.

“This is in addition to the N258.8 million spent this year on the provision of relief materials for orphans and the needy by SOZECOM.

“The preceding year, we spent N237.9 million on the same venture.

“Not only that, the increase in ease of doing business and a lot of things that this administration had done to actually improve the lives and wellbeing of the citizens of the state,” he said.

The governor added that time would tell the true position of things, saying the state government would monitor the NBS and see what it would come up with in its next report.

“Whether they will actually reflect the true position of Sokoto State in Nigeria, in terms of rating of poor states.

“We believe that we are not poor and in due course it would unfold,” Tambuwal said.

Edited By: Angela Okisor/Olagoke Olatoye (NAN)

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Economy

Consumers of PMS pay highest price of N138.10 in Borno in May–NBS

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The National Bureau of Statistics (NBS) says the consumers of Premium Motor Spirit (PMS) in Borno paid highest average price of N138.10 per littre in the country in May.


The NBS made this known in its latest report on PMS price watch released on Wednesday.

The bureau said Borno was followed by Taraba at N138.00 and Jigawa where consumers bought PMS at N137.89.

It disclosed that states with the lowest average price of PMS were Abuja where it was sold at N123.50, then Anambra N124.85 and Kwara where it was bought at N124.88.

“Average price paid by consumers for PMS decreased by -10.59 per cent year on year and month on month by -0.89 per cent to N129.67 in May from N130.84 in April” it added.

Edited By: Felix Ajide (NAN)

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