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Buhari Signs Executive Order Declaring Emergency On Corruption

Unic Press UK: Nigeria President Muhammadu Buhari today signed an Executive Order declaring emergency on corruption, calling on agencies, individuals, corporate bodies and institutions to tackle the scourge otherwise the country’s situation will worsen, the News Agency of Nigeria reports.

“Whilst there are many reasons why Nigeria has been struggling; regrettably, the most unfortunate cause of great disparity between Nigeria’s wealth and its poverty is endemic corruption. It is in consequence of this that I have decided to issue the Executive Order No. 6 of 2018 to inter alia restrict dealings in suspicious assets subject to investigation or inquiry bordering on corruption in order to preserve such assets from dissipation, and to deprive alleged criminals of the proceeds of their illicit activities which can otherwise be employed to allure, pervert and/or intimidate the investigative and judicial processes”, the president said today.

Based on the Corruption Perception Index 2017 of the Transparency International, Nigeria scored 27%, and ranked 148 in a list of 180 countries.

Nigeria – Economic Indicators & Other Information

  • Consumer Price Index (CPI):The Consumer Price Index (CPI) which measures inflation increased by 11.61 percent (year-on-year) in May 2018, illustrating 0.87 percent points less than the rate recorded in April 2018 (12.48). [National Bureau of Statistics, Nigeria].
  • Total National Debt: ₦45.4 trillion [$148.6 billion] as at 31st March 2018. [National Bureau of Statistics, Nigeria].
  • Population: 185.98 million as of 2016. [World Bank]. The current estimate is 197 million based on Live update as of 5 July 2018.
  • Gross Domestic Product (GDP): $404.65 billion as of 2016. [World Bank].
  • GDP per capita: $2,175.67 as of 2016. [World Bank].
  • Unemployment: “The unemployment rate increased from 14.2% in Q4 2016 to 16.2% in Q2 2017 and 18.8% in Q3 2017, the country’s Bureau of Statistics said in its report ‘Labor Force Statistics Vol. 1: Unemployment and Underemployment Report (Q1-Q3 2017)’of December 2017.
  • The total land area is circa 910,770 Km2. [World Bank].
  • Life expectancy at birth [2015]: 52.9 years as of 2015. [World Bank].
  • Central Bank of Nigeria official exchange rate $1= ₦305.65 as of 31st March 2018.
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