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NBS to include commercial s3x, other illegal activities in GDP calculation

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By Kayode Sanni-Arewa

To unveil rebased GDP, Consumer Price Index this month
•Proposes 2019 as new GDP base year
•Proposes 2024 as base year for inflation computation

The National Bureau of Statistics, NBS, yesterday said that illegal and hidden activities like prostitution and drugs peddling will now be included in the calculation of the country’s Gross Domestic Product, GDP.

Meanwhile, NBS has proposed 2019 as a new GDP base year and 2024 as new base year for inflation computation.

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NBS disclosed this at a sensitization workshop on GDP and Consumer Price Index, CPI Rebasing organised in collaboration with the Nigerian Economic Summit Group (NESG).

According to the bureau, 2019 was proposed as the new GDP base year because economic activities were relatively stable during the year, compared to subsequent years disrupted by the impact of COVID and policy shifts..

The bureau added that the rebased GDP is expected to capture new segments such as the digital economy, activities of pension fund administrators, National Health Insurance Scheme (NHIS), Nigerian Social Insurance Trust Fund (NSTIF), activities of modular refineries, domestic households as employers of labour and coverage of illegal and hidden activities.

Elaborating on the inclusion of illegal and hidden activities in the classification of economic activities for computation of the GDP, Head of National Accounts, NBS, Dr. Baba Madu, said: “Illegal activities will be in line with the national best practices, that is System of National Accounts, SNA 2008.

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“If you are into, for instance, drugs, there are some countries, it is this drug that is driving their economy. It is illegal here because there is no legal backing. Also prostitution, they also earn income. Some even live bigger than those in the formal sector. The SNA does not say no to these, it is we. But the challenge is the legal backing and how do we get the data.

“And then, of course, the hidden economy. If I ask you, how much do you earn in a month, you will lower your income. Or if somebody is selling provision in a store, and before you know it he started selling India hemp. Those are the things we are seeing. There are challenges all over the world. But the beauty is that they are less than 3.0 to 3.5% of the GDP.”

Highlighting the importance of the GDP and CPI rebasing exercise, Statistician General, Prince Adeyemi Adeniran, said: “The rebasing is a vital exercise that ensures our economic indicators are current and accurate reflections of the economic realities on the ground. As economies evolve, new industries emerge, and consumption patterns shift, it becomes imperative to update our statistical measures to capture these changes. Rebasing our GDP and CPI allows us to align with these transformations, providing a more precise and relevant picture of Nigeria’s economic landscape. This process is foundational to informed policymaking, strategic planning, and effective governance; hence, it is one exercise that NBS is conducting with significant importance and professionalism.

Highlighting the benefits of GDP rebasing, Chief Executive Officer, NESG, Dr. Tayo Aduloju, in his welcome address, said: “Accurate data enhances credibility. Our debt-to-GDP ratio, a critical indicator of fiscal health, dropped from 19% to 11% after the 2014 rebasing.

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“This improved Nigeria’s creditworthiness, making us a more attractive destination for foreign direct investment. Investors are drawn to transparency and growth potential, and rebasing sends a clear message: we understand our economy, and we are open for business.

“Second, rebasing sharpens policymaking. It provides a detailed map of our economic terrain, enabling governments to identify high-growth sectors for scaling and low-growth sectors that require targeted interventions to drive impactful and balanced development. For example, after Ghana’s 2010 rebasing—which resulted in a 60% GDP increase—its policymakers could better plan for infrastructure and social investments, fueling sustained growth.”

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Alleged cyber bullying: IGP re-arraigns VDM

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By Kayode Sanni-Arewa

The Inspector-General (I-G) of Police, on Thursday, re-arraigned controversial social media influencer, Martins Otse, popularly called VeryDarkMan (VDM), for allegedly cyberbullying Nollywood actresses, Iyabo Ojo and Tonto Dikeh.

VDM was also alleged to have cyberbullied famous Nigerian producer and singer, Samuel Oguachuba, also known as Samklef, among others.

He was re-arraigned before Justice Musa Liman of the Federal High Court in Abuja on five-count charge.
He, however, pleaded not guilty to the charge .

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His lawyer, Deji Adeyanju, prayed the court to allow VDM to continue on the earlier bail granted by Justice Mobolaji Olajuwon of a sister court.

Counsel to the I-G, Victor Okoye, did not object and the judge admitted him to the earlier bail terms and adjourned the matter until July 24 for trial.
VDM was on May 22, 2024, arraigned before Justice Olajuwon on same offences contrary to and punishable under Section 24 of the Cybercrime (Prohibition, Prevention, etc) Act, 2015.
He was remanded and granted a N10 million bail on June 10, 2024, by the judge with two sureties who must be employee of reputable company or Level 17 officers in a federal civil service with evidence of three years’ tax clearance.

The charge, marked: FHC/ABJ/CR/140/2024 dated and filed on March 28, 2024, was, however, re-assigned to Justice Liman, following Justice Olajuwon’s transfer to another division of the Federal High Court.
In count one, VDM was alleged to have on or about Oct. 13, 2023, intentionally published via a video posted on his Instagram handle ‘verydarkblackman’, (aka verydarkblackman) threatening and bullying words, to harass Samuel Oguachuba.
In count two, he was alleged to have, on or about Oct 29, 2023, intentionally posted videos, by means of computer system on his Instagram handles which contained information that was grossly offensive, pornographic or of an indecent, obscene or menacing character against Iyabo Ojo.
In the video, he was alleged to have stated that “one Ivabo Ojo is having indecent sexual relationship with her daughter.”
VDM was also accused to have, on or about Jan. 19, 2024, knowingly posted videos on his Instagram handles where he “falsely published that King Tonto Dikeh is accused of criminal conversion of the proceeds of crowd funding for Justice for Mobbad Movement, and being the person behind the gistlover blog.”
In count four, the defendant was alleged to have intentionally posted videos on March 19, 2024, on his Instagram handle against the Deputy-Inspector Generals (DIGs) of Police and lawmakers in the National Assembly considered to be annoying and insulting.
NAN

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Newly-Wed, Others Rendered Homeless As Windstorm Destroys 300 Houses In Katsina

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No fewer than 300 houses were destroyed, and properties worth millions of Naira were lost following a heavy windstorm and downpour in some communities in Katsina State.

The incident, which lasted for about fifteen minutes on Wednesday evening after Asr prayers, saw roofs and rafters flying through the sky.

Among the areas affected are Sabuwar Unguwar Modoji Gabas, Shinkafi, and Kukar-Gesa areas as well as Ambassador Quarters and some parts of Jibia Local Government Area (LGA) among others.

Residents Seek Help

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Many residents, including a newlywed couple, were rendered homeless following the havoc.

Some of the victims described the incident as a test from God. They, however, asked the Katsina State Government and others to assist them amidst the lingering economic hardship.

Maryam Muhammad

One of the victims, Maryam Muhammad, said, “During the incident, I was just sitting inside the room and I eventually noticed that the only room I had was completely down, resulting in dislocation of my leg and hand bone.”

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“Thank God all my children were at Islamiyya school then. We seek Divine and government interventions because I struggled hard and used all my property to raise this destroyed single room,” she said.

Another victim, Mubarak Rabi’u, re-echoed a similar sentiment, calling on the government to come to their aid.

“We are calling on our good government to look into our critical condition to assist us,” he said.

“Although we received this destiny in good faith, as I am speaking, we don’t know where our families will be heading, now that we are living from hand to mouth.”

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Ward Head, Sabuwar Unguwar Modoji Area, Aminu Jafaru.

In the meantime, the Ward Head of Sabuwar Unguwar Modoji Gabas, Aminu Jafaru, has urged the Katsina State Government and the State Emergency Management Agency (SEMA) to as a matter of urgency send delegation to assess the level of damage in the area with a view to assist the victims.

“It was a heavy windstorm accompanied by rain which within fifteen minutes, several Houses completely destroyed. We are calling on government and well to do individuals to please come to our aid in this community otherwise many house occupants will become homeless.

“We are indeed in dire need of your kind support, please. We want the state Governor, Malam Dikko Umaru Radda, if he comes across this request, to please send a delegation to assess the level of damage here in our community,” Jafaru added.

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BREAKING: PDP, NNPP Rep members abandon parties, lace boots with APC

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Three opposition members of the House of Representatives on Thursday formally announced their defection to the ruling All Progressives Congress (APC) during plenary.

The Reps include Oluwole Oke from Osun State, who left the Peoples Democratic Party (PDP), and Kabiru Hassan Rumrum and Sani Abdullahi, both from Kano State, who defected from the New Nigeria Peoples Party (NNPP) to the APC.

Rumrum had earlier declared his resignation from the NNPP and his return to the APC during a meeting with the party’s National Chairman, Dr. Abdullahi Umar Ganduje.

Also, Oke had earlier announced his departure from the PDP in Osun State and his decision to join the APC.

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Their defections were formally announced by Speaker Abbas Tajudeen at Thursday’s plenary, increasing the total number of lawmakers who have switched parties since the inauguration of the 10th National Assembly to 30.

Of the 30 defectors, 27 have joined the APC from the PDP, Labour Party, African Democratic Congress (ADC), and the NNPP.

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