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Nigeria's manufacturing sector experienced significant growth in the second half of 2021, with production value reaching N3.73 trillion, a 58.1% increase compared to the same period in 2020. This growth was attributed to increased cement production from the new BUA cement factory in Sokoto, as well as the establishment of the African Glass factory and five new paper mills. Capacity utilization in the sector also increased to 59%, indicating a 5.3% increase over the previous year. Additionally, investments in the manufacturing sector increased by 29.7% and job creation rebounded after the impact of the COVID-19 pandemic. However, local raw materials utilization declined and the inventory of unsold finished products decreased. Foreign direct investment also showed signs of improvement, with an increase in the third quarter of 2021 compared to previous quarters. [Extracted from the article]

Several photographs of paper money and coins around the world are presented including the money printed on sheets of plastic used in Australia, Nigeria and Mexico, coins in ancient China that were produced with holes in the middle and the currency in Fiji.

A U.S. court granted Nigeria permission to request documents from VR Capital Group Ltd., the part owner of a company that received a $9.8 billion arbitration award the government is trying to overturn. The successful court application is part of Nigeria's efforts to show that a 2010 gas-supply contract with P&ID was a sham designed to fail by the company and government officials. Distressed Securities Nigeria wants VR Capital to hand over documents concerning the company's purchase of P&ID shares as well as the contract and arbitration proceedings, according to court filings. [Extracted from the article]

Climate change and conflicts co-exist in many countries with significant welfare and socioenvironmental implications. Different approaches are being promoted to adapt and build resilience to these fragilities including the adoption of sustainable farm practices that have the potential to increase agricultural productivity and maintain environmental sustainability. We undertake a systematic review and perform a meta-analysis to understand and synthesize the adoption and impacts of agricultural technologies and natural resource management practices with a special attention to fragile and conflict affected settings. We employ state of the art machine learning methods to enable process and selection of appropriate papers from a universe of over 78,000 papers from leading academic databases. We find that studies on adoption and impact of agricultural technologies and natural resource management practices are highly clustered around Ethiopia and Nigeria. We do not find any studies on Small Island States. We observe a wide array of characteristics that influence adoption of these technologies. Of the over 1400 estimates of determinants collected, majority predict input technologies while very few studies and estimates are found in relation to risk management and mechanisation technologies. Our meta-analysis shows an average effect size of 7 - 9% for the different technologies and practices. For the outcomes: land productivity, food security and household welfare, we obtain effect sizes of 6, 8 and 9% respectively. We do not observe much in terms of publication bias. Both climate and conflict vulnerability not only cause far more food insecurity, poverty, and degradation of the environment on their own but also reinforce each other through the climate change - conflict linkage. For these detrimental effects to be curtailed, utilisation of climate-smart agricultural technologies and natural resource management practices need to be encouraged. We thus lend credence to the development, dissemination and upscaling of these sustainable practices. We observe a lot of space for growth and adoption of these technologies. [ABSTRACT FROM AUTHOR]

Foreign investor demand for Nigerian assets and remittances from citizens living abroad have increased significantly due to reforms implemented by President Bola Tinubu's administration. In February, foreign portfolio investor asset purchases exceeded $1 billion, bringing the total for the year to at least $2.3 billion. Overseas remittances also rose to $1.3 billion in February. These inflows are attributed to increased investor interest in short-term sovereign debt following adjustments to benchmark interest rates. The government has introduced various reforms to attract investors and support the naira, including relaxing foreign-exchange controls and reducing the gap between the central bank's policy rate and yields on short-dated paper. Governor Olayemi Cardoso stated that these measures have started to pay off, leading to increased reserves and liquidity in the markets. The naira has also gained value in official trading. [Extracted from the article]

Money market investors in Nigeria have been assured that yields will remain high this year, despite economic challenges. The Central Bank of Nigeria (CBN) is committed to sustaining tight monetary policy to combat inflation and the foreign exchange liquidity crisis. The National Bureau of Statistics reported a 29.90% increase in inflation last month, primarily driven by rising food prices. The CBN recently raised the stop rates of treasury bills to 19% to absorb more funds from the system, indicating a possible interest rate hike. FBNQuest, an asset management subsidiary, predicts that market yields will remain robust due to the CBN's monetary policy and a sizable supply of government paper driven by domestic borrowings. Despite economic headwinds, the government's commitment to policy reforms holds the potential for positive economic outcomes. [Extracted from the article]

Union protests job cuts at Exxon Mobil as unemployment soars On days when Dayo Fabajo's bosses can't afford to pay the 1,250 naira ($4) wage she earns for a 12-hour shift packing biscuits, they send her home early. [Extracted from the article]

COVID-19, Coronavirus, Economics, Monetary Policy, RNA Viruses, SARS-CoV-2, Severe Acute Respiratory Syndrome Coronavirus 2, Viral, Virology Keywords: COVID-19; Coronavirus; Economics; Monetary Policy; RNA Viruses; SARS-CoV-2; Severe Acute Respiratory Syndrome Coronavirus 2; Viral; Virology EN COVID-19 Coronavirus Economics Monetary Policy RNA Viruses SARS-CoV-2 Severe Acute Respiratory Syndrome Coronavirus 2 Viral Virology 907 907 1 04/03/23 20230409 NES 230409 2023 APR 9 (NewsRx) -- By a News Reporter-Staff News Editor at NewsRx COVID-19 Weekly -- New study results on COVID-19 have been published. [Extracted from the article]

Agricultural extension plays a number of important roles in the growth and transformation of the agricultural sector, including improving agricultural productivity and food security and reducing hunger and malnutrition. Extension programs and interventions that will achieve significant impacts in terms of behavior and practice changes, as well as agricultural productivity increase, will succeed as a result of suitable policy formulation and an effective implementation process. Ultimately, agricultural extension reform requires policy vision and determination and a state-level strategy that can be implemented. This paper documents issues, challenges, constraints, and potential solutions and opportunities in implementing the national extension policy (NEP) at the state level in Nigeria, using Cross River State as a case study. We use both quantitative and qualitative methods, in the form of descriptive statistical analysis and an inclusive consultative process with a focus on the multistakeholder participatory model, respectively. The descriptive results show that, generally, there is low access to agricultural extension service across commodities and their respective values chains in Cross River State. We also document interesting insights from the multistakeholder consultative process. We find that collaboration and partnership between private and public extension service providers is key to developing a sustainable extension, advisory, and support service in Cross River State. We also found that coordination and standardization of the activities of the extension service providers is a way to avoid pollution of the agricultural innovation system in the state. Funding of extension services is another important factor affecting the effective implementation of the NEP. We therefore suggest that agricultural extension services can be funded through decentralization, involvement of farmers' associations and nongovernmental organizations, contracting out of extension services, public-private partnerships, privatization, and embedding advisory services in other types of contracts. The results of this study further validate our approach of using multistakeholder engagement at the state level as an effective and insightful method of implementing the NEP at the state level. [ABSTRACT FROM AUTHOR]

Nigeria's longest-dated bond, with a maturity date of 2053, was oversubscribed by more than three times at an auction, indicating high demand from investors. The bond's record yield of 18% attracted total subscriptions of 330 billion naira ($364 million), compared to the 90 billion naira offered by the Debt Management Office. This preference for longer-dated debt suggests that investors are betting on a higher return over inflation in the long run. However, Nigeria's inflation reached an 18-year high in October, and analysts warn that negative real yields may deter foreign investors. The Debt Management Office has raised 82% of its targeted borrowing this year from the domestic capital markets. [Extracted from the article]

Highlights several articles about education featured in various newspapers. Introduction of Montessori elements to primary schools by Italian educationist Caroll Powell; Background on the Durand primary school in Stockwell located in south London, England; Information on a film about education in Lagos, Nigeria, involving professor James Tooley.

The article discusses a working paper from the International Monetary Fund (IMF) that is not an official IMF policy about Nigerian oil profit. The paper was written by Professor Xavier Sala-i-Martin and IMF Research Department Advisor Arvind Subramanian and encourages Nigeria to directly distribute its oil profits to its citizens. The article also notes that Nigeria has suffered from poor economic performance as the result of waste and weak institutions over the last 40 years.

The wide adoption and implementation of International Financial Reporting Standard (IFRS) principally hinges on the notion that it promotes the production of high quality financial information for investor’s decision making in the current globalized world. However, IFRS adoption is stated to be associated with the problem of information overload. This paper examines this assertion within the Nigerian banking industry. Data is generated from the financial reports of thirteen banks quoted on the Nigerian Stock Exchange as at 31st December, 2014, two years pre and post-IFRS adoption. Descriptive statistics is utilized to analyse the data and the paired sampled t-test statistics to test the hypotheses. The descriptive results reveal that on average, IFRS adoption cause a 31.6% increase in the length of financial reports with the accounting policies segment increasing by 95.3%, income statement by 84.6%, notes to the accounts by 70.2%, management discussion and analysis by 23.2%, cash flow statement by 13.3%, and statement of financial position by 9.7%. Only the others segments of the financial reports decrease by 10%. The results of the paired t-test shows that there is a significant difference in the overall length of information disclosed by Nigerian banks in the pre and post-IFRS adoption periods implying IFRS adoption led to information over load in the financial reports of Nigerian banks. Further investigation reveals that notwithstanding the increase in information disclosure, post-IFRS reporting is more decision relevant. The paper recommends that investors seeking investment opportunities in the post-IFRS regime should patronize financial analyst to guide their decision making and the regulatory authorities especially the Central Bank of Nigeria should discourage company directors from disclosing unnecessary information by regulating on the maximum number of pages in annual reports and accounts. [ABSTRACT FROM AUTHOR]

Purpose: Academic success and failure are relevant lifelines for economic success in the knowledge-based economy. The purpose of this paper is to predict the propensity of students' academic performance using early detection indicators (i.e. age, gender, high school exam scores, region, CGPA) to allow for timely and efficient remediation. Design/methodology/approach: A machine learning approach was used to develop a model based on secondary data obtained from students' information system in a Nigerian university. Findings: Results revealed that age is not a predictor for academic success (high CGPA); female students are 1.2 times more likely to have high CGPA compared to their male counterparts; students with high JAMB scores are more likely to achieve academic success, high CGPA and vice versa; students from affluent and developed regions are more likely to achieve academic success, high CGPA and vice versa; and students in Years 3 and 4 are more likely to achieve academic success, high CGPA. Originality/value: This predictive model serves as a classifier and useful strategy to mitigate failure, promote success and better manage resources in tertiary institutions. [ABSTRACT FROM AUTHOR]

In its endeavor to improve agricultural productivity, food security, and livelihoods, Nigeria has pursued several approaches in fertilizer policy. Most of these approaches revolved around variants of government-financed subsidy programs. This paper assesses the history of fertilizer policies in Nigeria and the tenets of the fertilizer policies in two recent national agricultural policy documents - the Agricultural Transformation Agenda (ATA) (2010/11-2016) and the Agricultural Promotion Policy (APP) (2016-2020). Our review results show that despite some recent achievements in ATA and APP, Nigerian fertilizer policies have lacked consistency and continuity, which in turn affected the functioning of supply chains, logistics channels including distribution costs, fertilizer prices, farmers' access to the input, and, ultimately, application rates and crop productivity. Thus, though Nigeria is one of the leading producers of fertilizer in sub-Saharan Africa, fertilizer consumption and farm application rates are generally low (below 20 percent of the application rate per hectare (ha) in developed countries). Moreover, several exogenous factors including poor infrastructure (especially bad roads), credit constraints, extension services, high fertilizer prices, lack of access to information, security threats, and lack of quality control or assurance also affect the functioning of fertilizer supply chains in Nigeria. The newly adopted national agricultural policy (National Agricultural Technology and Innovation Policy (NATIP) promises to build on ATA and APP and gradually deregulate the fertilizer sector to incentivize private sector investments in local fertilizer production and distribution. NATIP also requires the incorporation of practical approaches to tackle important exogenous constraints. We anticipate NATIP's commitment to policy continuity and addressing exogenous challenges will bring efficiency and effectiveness to the fertilizer sector in Nigeria. [ABSTRACT FROM AUTHOR]

A recent study conducted at Baze University in Nigeria highlights the issue of sexually transmitted infections (STIs) among adolescents. The study emphasizes that adolescents, who make up a significant portion of the Nigerian population, are often overlooked despite their unique circumstances as they transition from childhood to adulthood. The research reveals that adolescents are at a high risk of STIs, with millions of new cases occurring globally each year, particularly among individuals aged 25 and below. The study also highlights the alarming number of new HIV cases detected in young people daily, with two-thirds of the world's youth living with HIV residing in sub-Saharan Africa. The research paper suggests two policy options to address the burden of STIs among Nigerian adolescents and their impact on healthcare service delivery. [Extracted from the article]

Nigeria's central bank is sending mixed signals on interest rates, causing confusion among investors. The bank is offering short-term paper at higher yields than government debt with similar tenor, which is bought heavily by domestic pension funds. While the central bank wants rates to go up, some government officials are publicly expressing doubts, citing concerns about increased debt service and fiscal deficits. The country's debt servicing problem and the need to stabilize the naira and attract foreign investment are factors influencing the direction of interest rates. However, monetary policy in Nigeria is not very effective due to the small share of the population with access to credit. The lack of clarity on policy and inconsistency between the central bank's auctions and government debt yields are compounding the problem. [Extracted from the article]

The article highlights the state of Nigeria, possessing the freest and most responsible press in black Africa. The country publishes 20 daily newspapers and 36 weeklies despite a national literacy rate of only about 15%. It mentions the polemics and the publication of unadulterated news during the time of the country's Premier Nnamdi Azikiwe.

This paper examines the impact of environmentally sound technologies on climate change in Nigeria and recommends ways for policy decisions. Using literature review and case study, it is revealed that energy companies use environmentally sound technologies to mitigate climate change. It recommends the need to embrace environmentally sound technologies, [ABSTRACT FROM AUTHOR]

This paper combines panel data from nationally representative household-level surveys in Nigeria with long-term satellite-based spatial data on temperature and precipitation using geo-referenced information related to households. It aims to quantify the impacts of climate change on agricultural productivity, income shares, crop mix, and input use decisions. We measure climate change in harmful degree days, growing degree days, and changes in precipitation using long-term (30 year) changes in temperature and precipitation anomalies during the crop calendars. We find that, controlling for other factors, a 15 percent (one standard deviation) increase in change in harmful degree days leads to a decrease in agricultural productivity of 5.22 percent on average. Similarly, precipitation change has resulted in a significant and negative impact on agricultural productivity. Our results further show that the change in harmful degree days decreases the income share from crops and nonfarm self-employment, while it increases the income share from livestock and wage employment. Examining possible transmission channels for this effect, we find that farmers change their crop mix and input use to respond to climate changes, for instance reducing fertilizer use and seed purchases as a response to increases in extreme heat. Based on our findings, we suggest policy interventions that incentivize adoption of climate-resilient agriculture, such as small-scale irrigation and livelihood diversification. We also propose targeted pro-poor interventions, such as low-cost financing options for improving smallholders' access to climate-proof agricultural inputs and technologies, and policy measures to reduce the inequality of access to livelihood capital such as land and other productive assets. [ABSTRACT FROM AUTHOR]

Nigeria's rural youth are facing various challenges in agriculture, with limited job opportunities outside the sector. Using qualitative focus group discussions and individual interviews with youth in four communities in two Nigerian states, the paper reflects on nuanced differences in perceptions of opportunities, coping mechanisms and overall resilience of youth in rural Nigeria, as well as differential access to information, inputs and irrigation based on age, gender and community. We apply the GCAN framework, to illustrate the factors that shape resilience pathways in the context of climate change and other shocks and stressors. Many of the constraints rural youth face are faced by other groups, including lack of finance, farm inputs and modern equipment for production and processing. Yet, youth face higher and specific hurdles related to lack of capital, experience and a strong social capital and networks that would facilitate coping with climatic and other shocks and improving their livelihoods. Young women in particular have less access to information and irrigation, and are less likely to benefit from cooperative memberships. Nevertheless, young men and women have higher resilience compared to older groups in terms of health, mobility and ability to migrate, as well as easier access to the internet as a source of information. Youth can better build resilience and a network and receive government assistance when part of a cooperative. Nevertheless, a larger enabling environment in the sector is needed, to improve roads, access to markets, information, inputs and equipment to support young farmers who cannot leave the agriculture sector. A promising factor is that many young men and women realize the importance of agriculture and aspire to become successful in the sector. [ABSTRACT FROM AUTHOR]

Toxoplasmosis is a global health threat in which occurrence in pregnant women poses grave consequences to fetal wellbeing. Studies on prenatal Toxoplasma gondii infection are generally limited in sub-Saharan African countries, including Nigeria. The risk of transmission of toxoplasmosis is very high in Nigeria due to the favourable climatic conditions and prevailing behavioural and socio-economic factors that could aid transmission. Currently, there are no systematic and organized procedures for diagnosis and treatment of maternal toxoplasmosis in Nigeria. These conditions forecast possible unabated transmission in many areas and exponential impact on associated adverse events of the disease during pregnancy. This paper highlights the importance of early diagnosis and treatment during pregnancy which may forestall subsequent development of infection in children delivered by infected mothers. Inclusion of toxoplasmosis control policy in the routine antenatal care of pregnant women is therefore strongly recommended. [ABSTRACT FROM AUTHOR]

A recent study conducted at the University of Ilorin in Nigeria has investigated the potential use of ruthenium polypyridyl complexes of curcumin as a chemotherapy drug for the treatment of glioblastoma, a type of cancer. The researchers synthesized two complexes and characterized them using spectroscopic methods and elemental analyses. The compounds were found to have structural and electronic properties that make them potential candidates for chemotherapeutic drugs. In silico molecular docking experiments showed that the complexes had higher binding affinities to GBM proteins compared to the standard drug temozolomide. The study suggests that these compounds could be used as a potential treatment for glioblastoma or as a precursor for the synthesis of other pharmaceutical products. [Extracted from the article]

The International Monetary Fund recommended that the authorities "urgently tighten monetary policy and take measures to ensure markets maintain full confidence" in the central bank, the Lagos-based Punch newspaper cited the fund as saying on Monday. (Bloomberg) -- Nigeria's inflation rate jumped for a ninth straight month in September on rising transport and food prices, and may prompt policymakers at the central bank to hike borrowing costs at its next meeting. "Tightening monetary policy will have to include raising the monetary policy rate and mopping up excess naira liquidity", the IMF said, according to the paper. [Extracted from the article]

A new report discusses research findings on terrorism, specifically focusing on banditry in Nigeria. The research states that banditry is driven by non-ideological but economically motivated actions, often stemming from ethno-religious conflicts, political incitement, and economic factors. Banditry has caused internal displacement, disruption of livelihoods, food insecurity, unemployment, and poverty. The study concludes that addressing banditry requires adequate security measures, ethno-religious tolerance, employment opportunities, re-orientation of citizens, effective social policies, good governance, and education. The research emphasizes the implications of banditry on job insecurity and occupational health in Nigeria. [Extracted from the article]

Keywords: Coronavirus; DNA Viruses; Health and Medicine; Immunization and Public Health; Orthopoxvirus; RNA Viruses; Rabies Vaccines; Risk and Prevention; Technology; Vaccination; Viral; Viral Vaccines; Virology; Zoonoses; Zoonosis; Zoonotic EN Coronavirus DNA Viruses Health and Medicine Immunization and Public Health Orthopoxvirus RNA Viruses Rabies Vaccines Risk and Prevention Technology Vaccination Viral Viral Vaccines Virology Zoonoses Zoonosis Zoonotic 1257 1257 1 07/03/23 20230704 NES 230704 2023 JUL 9 (NewsRx) -- By a News Reporter-Staff News Editor at TB & Outbreaks Week -- Investigators publish new report on orthopoxvirus. Hence, the burden of zoonotic diseases in Nigeria is high and unabated despite available preventive vaccination for a disease like rabies. Some of these important zoonoses are discussed in detail in this paper with emphasis on effective control through the application of modern technology for surveillance, early and accurate diagnosis, biosecurity and preventive vaccination.". [Extracted from the article]

This article discusses Nigeria's plastic waste problem and the efforts of Waste to Wealth (Watowe) to address it. Nigeria ranks ninth among countries with the highest contributions to plastic pollution, with only 12% of plastic being recycled. Watowe aims to tackle this issue by implementing a waste to wealth model that includes value-added services like healthcare. The organization has cleaned up communities and beaches in Lagos and has partnered with healthcare companies to provide insurance packages to residents. However, funding remains a major challenge for Watowe, and the lack of supportive legislation and taxation on plastic products hinders progress. Despite these obstacles, Watowe has made an impact in various communities in Lagos and has also engaged with schools to educate the next generation on recycling. [Extracted from the article]

A whitepaper released by Access Partnership, a global public policy firm, warns that Nigeria and other developing countries could lose up to $500 billion per year to natural disaster damages caused by climate change by 2050. Currently, the agricultural sector in these nations has already lost $108 billion due to damaged crops and livestock production. The paper recommends that governments and the private sector utilize satellite technology for more effective disaster management efforts. Without proper planning and investment in communication systems, low- and middle-income countries will be disproportionately affected by climate-related disasters. [Extracted from the article]

A report from Mississippi State University highlights the limited research on per- and polyfluoroalkyl substances (PFAS) in Nigeria and raises concerns about potential human exposure and environmental consequences. The study examines the current state of PFAS research in Nigeria, including sources of contamination, environmental effects, and implications for human health. The research emphasizes the need for thorough evaluations of potential risks and regulatory actions to reduce exposure to PFAS and protect public health and the environment in Nigeria. The full report can be accessed for free through the provided link. [Extracted from the article]

Nigeria is planning to establish a $10 billion diaspora fund to attract investment from its citizens living abroad. The fund aims to support critical sectors such as infrastructure, healthcare, and education to stimulate economic growth. The country's ministry of industry, trade, and investment is currently seeking bids from asset managers to set up the fund. Nigeria hopes to strengthen ties with its diaspora and leverage the potential of its nearly 20 million citizens living abroad as agents of change and development. The World Bank estimates that Nigerians living abroad remitted $20.1 billion in 2022, but many of these transactions occur outside the official foreign-exchange market, contributing to volatility and weakness in the Nigerian currency. [Extracted from the article]

Heineken, the beer-brewing company, has been treating employees in Rwanda and neighboring Burundi in Africa, where one in eight people is infected with HIV. Heineken has guaranteed antiretroviral drug coverage to its staff of 6,000 in Africa, and also their immediate dependents. Problems include bringing drugs into Nigeria--the government imposes 20% import duties on all medication--and persuading airlines to carry HIV-infected blood from countries like Sierra Leone, where there are no labs equipped to carry out AIDS tests. Nurses have made exceptions and have given flu or malaria pills to workers who were laid off. On paper, Heineken requires employees to make a token contribution ($10 a month for management, $5 a month for other employees) toward treatment, in order to motivate AIDS patients to stick to their drug regimen.

Keywords: Dentistry; Health and Medicine; Oral Health; Oral Science EN Dentistry Health and Medicine Oral Health Oral Science 3378 3378 1 05/15/23 20230519 NES 230519 2023 MAY 19 (NewsRx) -- By a News Reporter-Staff News Editor at Health & Medicine Week -- A new study on oral health is now available. Dentistry, Health and Medicine, Oral Health, Oral Science. [Extracted from the article]

Annual inflation in Africa's biggest economy quickened to 22% in March from 21.9% in February, according to data published on the National Bureau of Statistics' website Saturday. The price of the nation's dollar bond maturing in 2051 fell for the fifth straight day on Friday to 63.182 pence a dollar with yields on the paper jumping to 13.26% While food inflation remained largely unchanged at 24.5% in March from 24.4% a month earlier, core price growth jumped 19.9%, compared with 18.8% in February. [Extracted from the article]

This paper examines the implications of the fourth republican constitution on university education in Nigeria. Specifically, the paper discusses the educational provisions of the new democratic constitution in Nigeria and how they are likely to affect the planning and administration of university education inp. [ABSTRACT FROM AUTHOR]