• Monday, March 04, 2024
businessday logo

BusinessDay

Economic week ahead

Feb 3

Elections are scheduled to take place in various states across Nigeria on Saturday, February 3, 2024.

These elections will be across nine states of the Federation covering two Senatorial Districts (Ebonyi South and Yobe East); four Federal Constituencies (Shanga/Ngaski/Yauri Federal Constituency of Kebbi State, Surulere I Federal Constituency of Lagos State, Akoko North East/Akoko North-West Federal Constituency of Ondo State and Jalingo/Yorro/Zing Federal Constituency of Taraba State); and three State Constituencies (Guma I State Constituency of Benue State, Chibok State Constituency of Borno State and Chikun State Constituency of Kaduna State).

Feb 5

On Monday the National Bureau of Statistics will be releasing the Statistical Report on Women and Men in Nigeria 2022 edition.

In its 2021 edition the report noted that in spite of all the efforts to promote the contribution of women in the political domain and decision-making process, women have remained the least represented in governance.

It also showed that in Nigeria, women have never been appointed as Secretary to the Government of the Federation, nor elected as President or Vice-President since independence and the return of democracy in 1999 to the last election in 2019.

NBS to release Telecoms Data: Active Voice and Internet per State, Porting and Tariff Information (Q4 2023)

The statistics agency will also be releasing reports
on telecom data on Monday for the the fourth quarter of 2023.

In the second quarter of 2023, the report said Lagos and Ogun States are the top states with mobile Internet subscriptions in Nigeria.

The NBS stated that the total number of active internet subscribers was 159,498,826 in Q2 2023 from 151,332,090 reported in Q2 2022.

February 7

The Senate, through its Committee on Banking, Insurance and Other Financial Institutions summoned Olayemi Cardoso, the governor of the Central Bank of Nigeria, to appear before it on the 6th of February 2023 to answer questions on the state of the economy and the free fall of naira in the forex market.

The Central Bank of Nigeria in June merged all segments of the FX market into the Investors and Exporters window, and reintroduced the willing buyer, willing seller model.

The naira has continued to depreciate against the dollar and other major foreign currencies since then.

Naira appreciated by 8.57 percent in less than 24 hours to N1,400 on Thursday after tipping at N1,520 per dollar on Wednesday at the parallel market, commonly called the black market, data collated from different street traders revealed.

Feb 9

Road Transport Data

Data on transport in the fourth quarter across Nigeria will be released by the NBS on Friday next week.

In November intra-city bus fares in Nigeria dropped for the second straight month despite rising pump prices of petrol and diesel across the country according to the Road Transport Data of the month.

Within the city per drop declined by 6.23 percent to N1,047.6 from N1,117.3 in October.