Nation
Economist Challenges W’Bank’s Prediction On Nigeria’s Inflation Rate
An economist, Prof. Akpan Ekpo, has queried World Bank’s prediction that Nigeria’s inflation rate is expected to rise to fifth highest in Sub-Saharan Africa by the end of 2021.
Ekpo, a professor of Economics and Public Policy at the University of Uyo, Akwa Ibom State, questioned the prediction in an interview with The Tide source yesterday in Lagos.
Recall the bank’s Lead Economist for Nigeria, Macro Hernandez while presenting its six-monthly update on development in Nigeria on Tuesday, said Nigeria was lagging the rest of sub-Saharan Africa, with food inflation.
Hernandez included heightened insecurity and stalled reforms as slowing growth and increasing poverty.
The professor said: “First of all, we need to examine the methodology the World Bank used to arrive at the conclusion because we know that inflation has declined slightly.”
Ekpo, also Chairman, Foundation for Economic Research and Training in Lagos, said, however, that if government could solve the insecurity problems limiting economic growth and increase Agricultural production, the prediction might not hold.
According to him, there are countries with double digits inflation and still doing well.
“This means you can have inflation and yet your GDP is growing, so, it’s when you have what we call run-away or hyper inflation that is when you get worried.
“Run-away inflation means that prices are increasing everyday or every month without control,” he said.
On predictions that the inflation would push seven million more Nigerians into poverty due to falling purchasing power, Ekpo gave a suggestion to the federal government to stem it.
He urged the Federal Government to seriously implement the National Poverty Reduction with Growth Strategy Programme and the Economic Sustainability Plan documents.
“I cannot fault them on this one because already, the National Bureau of Statistics (NBS) said about 85 million Nigerians are living in poverty.
“So, World Bank just saying that confirms what our own NBS has already said.
“Now, if the government implements the National Poverty Reduction initiative document as well as the Economic Sustainability plan seriously, then we can begin to reduce the poverty rate.
“Then the economy must grow double digits, that is, 10 per cent and above for us to see reduction in poverty and more jobs creation as well, because poverty is linked to unemployment,” he added.
The Alliance Française Port Harcourt in conjunction with the Embassy of France Nigeria over the weekend joined the globe to campaign against the 2025 gender- based violence (GBV) with the theme: “16 Days of Activism Against Gender- Based Voice”
The event which took place at the event Hall of the Alliance Française Port Harcourt was in collaboration with the Female in Gaming Network, ( FIGN) and partnership with Nexal a body that seeks to promote online safety and responsible digital behaviour.
The Tide reports that the project which was aimed at promoting digital safety and girls inclusion in Gaming, with the initiative tagged ‘Gameover Gender- Base Violence’was part of the global campaign against gender- based Violence.
The activity which experienced a flavour of festivity was full of fun and excitements as participants took part in tournaments on popular digital games such as Mario kart and EAFC 25, with an intent to creating safer and more inclusive digital spaces.
The Director of the Alliance Française Port Harcourt, Mrs Marina Lacal said that these activities were designed to encourage inclusion of girls, team work and fair play on online gaming spaces, saying that the gaming world reflects these inequalities, where female players are often under represented.
According to her the main objectives of the initiative was to provide a supportive environment for girls and female in gaming network.
“GameOverGBV” is a project created to reshape this landscape by offering an innovative inclusiveness of girls on online digital Gaming community and digital environments that provide opportunities for creativity, learning and connection, but also fight against Gender-Based Violence Digital Gaming,”she said
She however, explained that the Digital Game, sport competitions, was launched to strengthen social and digital skills through games, workshops, and raise awareness among all young participants about respect, equality and digital citizenship.
The Tide News reports that in Port Harcourt, the competition brought together 100 young participants from three major universities: University of Port Harcourt, ( UNIPORT),Ignatius Ajuru University of Education(IAUE) and Rivers State University (RSU)as well as students from four selected secondary schools, Oginigba comprehensive Secondary.School, Vine lnternational, Virgo predicanda lnternational, and Excellent Montessori Secondary school.
“This is an approach where girls and boys can learn, play and collaborate in a more respectful and safe space for young women, while ensuring a safe, enjoyable and respectful digital environment. It also expose young women to cyberbullying, exclusion, sexist comments and online hate,” Mrs. Lacal said.
Earlier, a game developer Sophia Nei and her. team had engaged participants in an interactive session with the theme: “Can Video Games Be Safe Spaces For Girls?”
However, Mrs Nei and her team educated the girls on the benefits and violence on online digital gaming and urged them ( participants)to learn to say ‘No’ to Online hate, sexist and cyber bullying, while encouraging them(students) to stand up for themselves by reporting such issues to the appropriate authority.
Highlight of the competition was the awarding of prizes to winners by the Director of Alliance Française, Mrs Marina Lacal.
