Over the years price of petrol as been regulated by various successive governments in Nigeria. In 2012 the Federal government announced the complete removal of petrol subsidy (Petrol was priced at N141 naira per liter ) which lead to a nationwide protests after which the government agreed to a partial removal of subsidy (Petrol was priced at N97 naira per liter ).
In Jan 2015 government announced a price decrease in the regulated price of petrol (Petrol was priced at N87 naira per liter ). In January 2016 government also announced another price decrease (Petrol was Priced at N86.50 naira per liter )
Today the country is currently experiencing fuel supply challenges , government has announced a new price hike on 11th may 2016 signaling the removal of petrol subsidy (Petrol now priced at N145 naira per liter ).
Will this new policy finally ease supply challenges and stimulate more investment into the petroleum sector??????
If you are living in Nigeria then you must be familiar with the petrol crisis that occurred some weeks ago where many Nigerians had great difficulty in buying petrol for their cars and generators . Many experts offer diverse opinions with regards to the cause and solutions to the petrol crisis.
Presently the government officially pegged the price of petrol at N86.50 per liter, some have argued that its not just possible to have a uniform price of petrol across the entire country owing to many differentiated variable cost due to diverse distribution challenges of conveying products from source to various locations.
Presently Nigeria has about 3 petroleum refineries which are not yet operating at optimal capacity hence the government has to import petrol from overseas to meet up with the shortfall.
From the chart above Lagos state has one of the lowest average purchase price of petrol paid by households, one very important factor responsible for this situation is the presence of a sea port in Lagos through which importation of petrol is facilitated . Also note Lagos does not have any petroleum refinery .
From the charts above there exist price disparity among various geopolitical zones in the country.South west with the lowest average purchase price of petrol paid by households and south east has the highest purchase price paid by households.
In conclusion it very much safe to say that the price of petrol in Nigeria is not at par across the entire states , because some states have certain comparative advantages (closeness to source ) and challenges (high distribution cost).
The Price of crude oil has taken a big hit (fall in prices) , federally allocated revenue from the sale of crude oil to all states within Nigeria have been affected (declining revenues). This current trend has affected the fiscal policies of many states , with a lot of states having challenges in meeting up with their obligations. The internally generated revenues (IGR) constitutes other source of incomes to the states apart from the federally allocated revenue from the sales of crude oil.
States would now have to rely more on increasing internally generated revenue by ensuring everyone pays his or her own fair share of taxes. State that can effectively and efficiently increase their Internally generated revenues would find fiscal policy implementation less of a headache than those would can`t.
The visualisation below shows the IGR for 36 states within the federation the size of the bubble is an indication of the amount Internally generated revenue for the 2014 year.
Concluding remarks it is hope that public policy makers would take concrete steps at improving their IGR to avoid fiscal policy crisis.
OLAP simply translated into Online Analysis Processing , it is the process of viewing data in a multi-dimensional format i.e. slicing and dicing of data from various multiple perspectives.
It involves the deployment of both fact and dimensional tables. Many enterprise business use OLAP to view their performance against diverse variables such as sales by locations by a given quarter.
I have personal experiences with the application of OLAP systems in various data warehousing projects in which i have undertaken in the past. It is feels pretty good to harness the rich capabilities that an OLAP system brings into the business . Some of the features of an OLAP includes hierarchies look ups,drill through of data, slicing and dicing of data etc.
Why you need an Online Analysis Processing System
Many contemporary dashboards reports are built on existing OLAP systems, Your ROI upon the adoption of an OLAP systems for your business would be very huge (i.e if you don’t have one already)
Graph theory is a mathematical concept on the basis of pair wise relationship between nodes or vertices.okay put simply it basically two entities connected by a relationship, graph theory has been around for a very long time, however graph theory for information management has gained a lot traction due to recent advances made in technology.
I personal stumbled upon graph database last year after taking keen interest in NoSQL database platform. A quote by Emil Emfrem “graphs are eating the world” Today graph database platforms are in demand due to it improved performance especially when used for building modern day applications (onsite and cloud-based solutions).
Top ranked Graph database platforms ,seen below
I have personally used graph database platform for some of my contemporary jobs and i can conclude without an iota of doubt that it is indeed ready to give other database platforms a run for it money.
1. Derivable Insights
Many big companies are deriving lots of valuable insights from archived datasets this greatly allows them to execute and review their business strategy.
Today archived datasets equals valuable insights when processed with the right technology.
2. Democratization of Software Technologies
Today a huge number database management software vendors exist in the market place, this wasn’t the case some 30 years ago ,from Oracle, Microsoft Sql Server,MySql,Microsoft Acess,PostgresSql ,Teradata etc.
The list is nearly endless, presently opportunities towards archiving datasets for both small and enterprise business is very encouraging.
3. Your Rival Maybe Doing It (Archiving Too)
Yes certainly, it most likely your competition has in place a good information management strategy giving them a very crucial edge over you.
4. Improved Hardware Technologies
Decades ago we had constraints related to limited capacity of our storage devices. From cassettes to floppy disk drives, thumb drives, hard drive. Today improved technologies has made it possible for us to store gigabytes, terabytes, exabyte and petabyte of datasets (On site and off site provisions)
5. You could make a lot of Money from Archiving Data
Google is one of the most valuable companies today, yes we all know but do we know why that is??? , answer it due to the very fact that google archives lots of search queries by its users. Data is very a crucial ingredient credited for many success stories. Numerous cases of big enterprise legally making acquisition of data warehousing companies others pay a huge amount of to data warehousing companies for access to its datasets (troves)