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More than 120,000 Nigerians affected by Terrorist Group Boko Haram’s Famine

Thousands of Nigerians marched and protested this week for growing hardship through high food prices, poverty, corruption and unemployment

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Poor children (Representational Image,) Wikimedia

Johannesburg, Feb 8, 2017: According to Food and Agriculture organisation report, Africa’s biggest humanitarian crisis will likely to retrograde during ‘lean’ season between season between June and August in northeast Nigeria.

According to PTI, It is estimated that more than 120,000 Nigerians will suffer to the detrimental famine like conditions caused by Boko Haram Islamic uprising. Among 11 million are bearing severe food shortages this year in accordance to a new UN report.

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The worst affected zone is Borno State, which accounts 65 per cent of the “expected famine zone”. It is coincidently the place of origin of Boko Haram.

UN agencies have reported that children are perishing in this region already and if any help is not given, half a million will die.

Rampant Corruption and conflict between the government and aid agencies are exacerbating the crisis. Investigation officials report that local government agencies embezzled with the food aid.

The report stated that even though the Boko Haram uprising has evacuated hundreds and thousands of farmers off their land. Despite that, Nigeria’s cereal production went up by about 5 per cent in 2016, said PTI

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Increased government support for agriculture, above-average rainfall and increased commodity prices are said the factors for increased cereal production stated in the report.

The report also stated that Nigeria remains a “food-deficit country” with cereal imports, mainly rice and wheat, predicted to exceed 7 million tons this year.

Nigeria remains the world’s biggest importer of rice, indicating a failure of government efforts to reduce dependence on food imports. This is amid a gross shortage of foreign currency caused by low global prices for oil.

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Thousands of Nigerians marched and protested this week for growing hardship through high food prices, poverty, corruption and unemployment.

Vice President Yemi Osinbajo assured them that he feels their pain but life will get better. “With complete focus on improving the economy every day, the recession will soon be history,” he said in a statement Tuesday, without elaborating.

– prepared by Sabhyata Badhwar of NewsGram. Twitter: @SabbyDarkhorse

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Bharti Airtel’s Africa Posts Net Profit of $83 mn on Net and Payment Biz Growth

Airtel Money posted a revenue of $70 million in Q4 as compared to $38 million in the previous quarter

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There will be zero subscription charge for Airtel users with unlimited streaming and downloads, the company said. Wikimedia

Bharti Airtel’s Africa subsidiary has posted a net profit of $83 million (around Rs 581 crore at Rs 70 a dollar exchange) for the March-end quarter, compared with a net loss of $49 million a year ago, boosted by a surge in data consumption and a rise in the volume of transaction value on the Airtel Money platform.

But the net income has fallen substantially and sequentially from $123 million in the December quarter.

The Sunil Mittal company said this was due to an exceptional loss of $7 million, “mainly on account network modernisation across various OPCOs (operating companies),” the quarterly earnings report of the company said.

The total revenue for Airtel Africa rose 6 per cent on-year to $781 million, though it fell from $783 million sequentially.

The net income and revenue both have fallen sequentially. Airtel Africa is in the process of a public listing on the London Stock Exchange around June this year in order to raise $1.5-$1.6 billion.

The net debt of the Africa operations has fallen to $4,004 million from $7,755 million a year ago period and marginally from $4,189 million in the December quarter.

“Data usage per customer during the quarter was at 1,375 MBs as compared to 963 MBs in the corresponding quarter last year, an increase of 42.7 per cent,” the company said, adding that data customers increased by 5.1 million on year to 30 million, representing 30.4 per cent of the total customer base, as compared to 27.9 per cent in the year-ago quarter.

Bharti Airtel’s office.

The total minutes on the network during the just-ended quarter grew 18.3 per cent to 52.9 billion.

The company said that its Airtel Money customer base increased 24 per cent annually to 14.2 million and the total transaction value on Airtel Money platform increased by 22 per cent to $6.9 billion.

Airtel Money posted a revenue of $70 million in Q4 as compared to $38 million in the previous quarter.

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Airtel Africa serves 99 million customers in 14 countries. Its Ebidta rose 16 per cent on-year (earnings before interest tax, depreciation & amortisation) at $354 million. On-year Ebitda margin also expanded from 42 per cent in the fiscal third quarter to 43.8 per cent in the fiscal fourth quarter.

But average revenue per user (ARPU) – a key performance metric – dropped 3.1 per cent on-year and 3.4 per cent sequentially – to $2.7. Voice ARPU also fell 3.5 per cent on quarter and 7.2 per cent on year, but data ARPU rose 2.8 per cent and 6.8 per cent sequentially and on-year wise.

Airtel’s Africa unit has already raised $1.45 billion through pre-IPO placements to the likes of Qatar Investment Authority, Warburg Pincus, Temasek, Singtel and SoftBank Group International, to reduce its net debt. (IANS)