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SBM Intelligence
@sbmintelligence
, 5 tweets, 2 min read Read on Twitter
Estimating the impact of today's #NigeriaDecides2019 postponement on GDP is quite subjective. Some of the clear effects include:
*Disruption of business activities
*Disruption of social activities
*Increased wage cost
*Inconvenience to daily life
*Reduced consumer spending
Another consequence is that, many firms shutdown early on the Friday preceding election day, while educational institutions took early mid-term/ semester breaks.
SBM Intel estimates #Nigeria’s GDP at $420 billion as at the end of 2018 and we have estimated the foregone GDP for the various economic sectors (contribution to GDP in line with @nigerianstat data).
With this in mind, #Nigeria lot 0.531% of GDP, or $2.2302 billion today.

The final cost, is the reputational damage, which cannot be measured in dollar terms.

Download the complete report - bit.ly/2BEgwQ1
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SBM Intelligence
@sbmintelligence
1/ A carelessly incurred fine, effectively ignoring a surging ISWAP, the CCB’s sudden impotence, and a judicial bailout for an under fire ruling party, Nigeria has become the land where the unnecessary is king.
2/ The drama between @MobilePunch and @CCBNigeria represents the latest indication of the current administration’s selective commitment to the rule of law.
3/ The irony of @CCBNigeria who responded to a letter against CJN #Onnoghen - an official who is no favourite of @MBuhari - in a matter of hours while ignoring a legal request for information that could potentially tar @AsoRock’s leading lights is inescapable.
Read 20 tweets
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SBM Intelligence
@sbmintelligence
Last Friday, @MBuhari suspended the Chief Justice of On Friday, 25 January, 2019, President Muhammadu Buhari suspended the Chief Justice of @SupremeCourtNg, Justice Walter #Onnoghen, pending the completion of his trial at @CCBNigeria's tribunal.
@MBuhari immediately swore in Justice Ibrahim Tanko Mohammed as the acting CJN.

In a swift reaction, @NigBarAssoc issued a statement unequivocally rejecting and condemning “this attempted coup against the Nigerian Judiciary” and fixed an emergency meeting for today.
@SPNigeria & and Speaker of @HouseNGR, both condemned @NGRPresident’s move.

It is worthy to note that to legally remove the CJN, the other 2 arms of govt, @AsoRock & @nassnigeria have to be in agreement on the issue, so a 2/3 majority is needed at @NGRSenate.
Read 23 tweets
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SBM Intelligence
@sbmintelligence
1/ The country’s profile got bleaker this week for a host of reasons - impetuous regulatory behaviour, refugees left out in the cold, a needless rise in public recurrent spending and an unshackled rogue police squad.
2/ Nothing illustrates #Nigeria’s dysfunction as much as the minimum wage palaver. The ₦27,000 ($75) or even ₦30,000 ($83) is not much – those that earn it will hover around the poverty line.
3/ The issue is that even such a wage is beyond the capacity of @AsoRock to pay, and for many small businesses as well, this will represent a massive upswing in cost. There is a disconnect between value creation by the workforce, and how much they earn.
Read 24 tweets

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Al Jazeera English
@AJEnglish
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Here’s everything you need to know about Nigeria’s 2019 Elections👇

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The Presidential elections are upon us, February 16, 2019, is only a few days away. The mood of the country is bad. Personally, I feel things have not gone in the right direction. The Economic situation is terrible to say the least.
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Your salary is the bribe to forget your dreams. FALSE!
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Today is the thirtieth anniversary of the mass shooting in Stockton, CA. A man with an AK-47 opened fire on a playground full of children, shooting 32 and killing 5. This is a pivotal moment in the history of US gun violence and gun control; what happened next is instructive. 1/3
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