Economy

Mining, agriculture pushed Nigeria out of recession – Fayemi

Dr Kayode Fayemi, the Minister of Mines and Steel Development, on Thursday identified agriculture and mining as the critical sectors that pushed Nigeria out of recession.

Central bank will support domestic production needs – Emefiele

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, said on Wednesday the bank would continue to explore further avenues to ensure that interest rates are supportive of domestic production needs.

Why states will continue to owe workers’ salaries – Onigbinde

The co-founder of BudgIT, Seun Onigbinde, has said that some states will continue to owe workers’ salaries because the monthly allocation from the federation account is barely enough to meet their needs.

Fashola threatens to deport Egbin chief over N125bn debt controversy

The Minister of Works, Power and Housing, Babatunde Raji Fashola, has accused the Managing Director/Chief Executive Officer, Egbin Power Plant, Mr Dallas Peavey, of staying in Nigeria without a valid visa and that he has directed the Nigeria Immigration Service to take appropriate action.

Nigeria out of stagnation not recession – Onovo

A former presidential candidate, Chief Martin Onovo, has faulted the National Bureau of Statistics for coming up with a verdict that Nigeria is out of recession.

Nigeria needs data harmonisation strategy – NBS official

An official of the National Bureau of Statistics (NBS), Dr Isiaka Olarewaju, has said that Nigeria would need harmonisation strategy on data gathering to achieve even development.

Recession exit: Don makes case for sustainable growth

A South-Africa-based don, Mr Christopher Ifeacho, says sustainable growth must be maintained to ensure that the Nigerian economy remains out of recession.

Fed govt seeks more investment from Poland, others

The Federal Government has called on investors from Poland and other countries in Europe to take advantage of the reforms in the Nigerian economy by increasing their level of investments in the country.

Nigeria will achieve full economic recovery in 2019 – PwC

The PricewaterhouseCoopers Nigeria has predicted a full economic recovery in the country by 2019.

Exit from recession won’t improve Nigerians’ economic wellbeing – don

Former Dean, Faculty of Social Science, University of Port Harcourt, Prof Okey Onuchuku, has warned that Nigeria’s exit from recession will not lead to improvement in the living condition of Nigerians, as it was induced by mere increase in crude oil production and oil price increase in the international market.

Telecoms sector adds N1.5tn to GDP in second quarter – NCC chief

The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof Umar Garba Danbatta, has said that the telecoms sector contributed N1.549 trillion to the Gross Domestic Product (GDP) in the second quarter of 2017, representing 6.68 per cent increase from the first quarter of the year (N1.452 trillion).

Delta revenue board seals 12 companies over tax liabilities

The Delta State Board of Internal Revenue on Friday sealed 12 companies, hotels and schools in Warri over tax liabilities.

Nigerian economy remains under great threat – US

The United States military yesterday warned that the Nigerian economy remains under great threat following the surge in criminal activities in the Niger Delta and the threats by militants to resume bombing of oil facilities in the region.

Why commodities prices are high – MAN chief

An Industrialist, Mr Frank Jacob, said on Friday that the prices of domestic commodities were up because the exchange rate between the naira and the dollar was still high.

US Fed official sees gradual rate hikes even amid low inflation

The US central bank can continue to raise interest rates gradually, despite persistent low inflation that could suggest a fundamental change in the economy, a top Federal Reserve official said Thursday.

Why food prices are still high despite Nigeria’s exit from recession – NBS

Statistician-General of the Federation, Dr. Yemi Kale, has explained why food prices are still high, despite Nigeria’s exit from recession, giving reasons why Nigerians may not feel the immediate impact of the recession exit.

Why Nigerians haven’t felt impact of exit from recession – NBS chief

The Statistician-General of the Federation and Chief Executive, National Bureau of Statistics, Dr. Yemi Kale, on Wednesday explained why Nigerians were not feeling the real impact of the positive economic growth rate on their lives.

Exit from recession can take months to impact on citizens – economist

A Minna based economist, Mr Kolo Paul, says Tuesday’s report of Nigeria exiting recession can take several months before its impact is felt by the ordinary citizens.

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[FILES] This aerial picture shows smouldering peatland after a fire blaize. (Photo by ADEK BERRY - AFP)

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Ogun may establish two additional universities

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Kogi Speaker receives defectors into APC

The Speaker of Kogi State House Assembly, Hon. Mathew Kolawole, has formally received some members of the opposition parties who recently defected to the ruling All Progressives Congress (APC).

‘Yahoo boy’ runs mad, strips self naked in Ekiti

There was drama on a major highway in Ado Ekiti, the Ekiti State capital, when a young man suspected to be an Internet fraudster ran mad in full public glare on Sunday evening.

Bandits release 30 more captives in Zamfara

The peace efforts initiated by the Zamfara government have continued to yield more fruits with 30 additional captives released by bandits on Sunday, after eight months in captivity.