Numbers To Ponder: N40.2tn Household Consumption, $20b In Jeopardy, 20 Dockworkers Arrested

For Today’s Numbers to Ponder, consumers spent a record N40.2 trillion on household consumption comprising food and non-food items. According to the National Bureau of Statistics (NBS), 56.65% (representing N22.8 trillion) of household expenditure was spent on food while the remaining 43.35% (N17.4 trillion) was spent on non- food items. We are also sharing news on how 200,000 jobs for Nigerians may be in jeopardy as Coronavirus threatened an estimated 160 Chinese firms operating in the country. Businesses and industries have shut down as Africa’s cases of COVID-19 topped over 60,000 on Saturday, May 9th – a third of whom have recovered – with deaths hovering around 2,000. Despite these threats, some Africans believe they cannot contract the deadly virus. Findings by Partnership for Evidence-Based Response to COVID-19 (PERC), a public-private partnership initiative, have shown. On the sports side, Local clubs and players are hopeful in Nigeria as football officials find applicable means to share FIFA’s $500,000 (about N180m) fund.

N40.2tn Household Consumption

Food items contributed more to consumers’ expenses in 2019 with a record of N40.2 trillion on household consumption. The report by the National Bureau Of Statistics (NBS) has shown. According to the report, 56.65% (N22.8 trillion) of household expenditure in 2019 was spent on food. The remainder 43.35% (N17.4 trillion) spent on non- food items. It seems the patterns of household expenses recorded little changed since the last report a decade ago. Compared to a decade ago (at N21.6 trillion in 2009/10), household expenditure on food was 60.2% while non-food items constituted 39.8%, representing N13 trillion and N8.6 trillion respectively.[DATAPHYTE ]

$20b In Jeopardy

With estimated 160 Chinese firms operating in Nigeria, Daily Trust reports that the total investments of Chinese companies in Nigeria are worth over $20bn, according to China Chambers of Commerce. The President China Chamber of Commerce in Nigeria, Ye Shuijin, said, “The 160 Chinese firms operating in the country had also employed over 200,000 Nigerians. I believe the Chinese investment in Nigeria now is about $20bn. Our workforce is 95% Nigerians.”

20 Dockworkers Arrested

The Maritime Workers Union of Nigeria (MWUN) has threatened to embark on a nationwide strike at seaports over the arrest of its members on essential service by the Governor of Rivers State, Nyesom Wike. Already, the union has given 48 hours ultimatum, starting from Monday to the Rivers State governor to release the dockworkers or they will be forced to shut down all nation’s port by Wednesday. The union made its position known in a statement titled: “Unlawful arrest and detention of dockworkers who went to the port to carry out essential services by Rivers State Task Force on COVID-19 lockdown,” which was signed by the President-General of MWUN, Com. Adewole Adeyanju.

N426.7m Forfeiture

Justice Muslim Hassan of the Federal High Court sitting in Ikoyi, Lagos, on Friday ordered the final forfeiture of N426.7 million belonging to John Onimisi Ozigi, a retired brigadier general, to the Federal Government. The judge had earlier ordered the interim forfeiture of the money following an exparte application filed by the Economic and Financial Crimes Commission, EFCC.

FIFA N180m

THE National Association of Nigerian Professional Footballers (NANPF) has disagreed with the Nigeria Football Federation (NFF) over application of FIFA’s $500,000 about (N180m) fund. Players’ Union general secretary Austin Popo said part of the fund, contrary to the assessment of NFF president Amaju Pinnick, should be distributed as palliatives to support Nigerian clubs and players in the Covid-19 pandemic.

20% Africans

While over 98 per cent of Africans are aware of the existence of COVID-19, 20 per cent (1 in 5) of them believe they cannot contract COVID-19, a report shows.Although relatively low compared to other continents, Africa’s cases of COVID-19 topped over 60,000 Saturday — a third of whom have recovered — with deaths hovering around 2,000.

2 Hotels Demolished

The total lockdown in Obio-Akpor and PortHarcourt Local Government Areas in Rivers State entered another dimension yesterday, as the State Governor, Nyesom Wike, personally monitored the demolition of two hotels in Eleme Council for allegedly flouting the state Executive order. The demolished hotels are the Prudent Hotel, Alode, in Eleme and Etemeteh hotel in Onne.