2021 LANDSCAPE
Stimulus measures and the reopening of borders by the Federal Government of Nigeria Reduced federal resource allocation to States due to fluctuating revenue and rising debt Highly muted spending on productive activities and capital projects by the region’s State Governments Restricted movement of goods and services in the South East due to Indigenous Peoples of Biafra (IPOB) stay-at-home order Slow economic recovery from the COVID-19 impact and rising unemployment
Renewed interest in regional cooperation and collective development agenda by South/South State governments signaled by the revival of the moribund BRACED Commission More politicking and reduced governance as Nigeria's 2023 general elections draw nearer
Increase in lethal violence, driven by the outbreak of additional security issues, and the emergence of new conflict actors (See: Annual Niger Delta Conflict Report 2021)
Passage of the Petroleum Industry Act (PIA) for good governance, best practices, and ease of doing business in the oil and gas sector in Nigeria
Increase in criminality and separatist agitation by 87% and 573% respectively in 2021 compared to 2020 - more than 800 and 140 fatalities. (Read: Annual Niger Delta Conflict Report 2021)
Lack of access to arable farmlands for smallholder farmers (SHFs) who are critical to Nigeria's economy and food security
Passage of anti-open grazing laws by seven (7) states in the region due to persistent herders-farmers clash
Prevailing social norms of husbands preventing wives from participating in capacity building and income-generating opportunities
The rise in agricultural inputs, technologies, and production costs caused by persistent inflation Reduced purchasing power and shrunk profit margins for smallholder farmers and businesses arising from the high inflation rate (17.25%) The lower average number of farming cycles and slower technology adoption in the aquaculture, agriculture, and poultry value chains Tax burdens adversely affecting micro, small, and medium enterprise (MSME) growth Investors’ disinterest in renewable energy solutions in under-served coastal communities due to slow return on investment
2021 ANNUAL REPORT
