Economy

Nigerians will feel impact of exiting recession gradually – NBS

Dr Yemi Kale, the Chief Executive Officer, National Bureau of Statistics (NBS), has said that the effect of Nigeria coming out of recession will not be immediately felt by the people.

Recession exit: USAID applauds Nigerian government

The United States Agency for International Development (USAID) has applauded the federal government for exiting the country out of economic recession.

Recession exit should boost purchasing power of Nigerians – experts

Dr Augustine Ayuba, an accountant with Kaduna State University (KASU), says Nigeria is practically still in recession because the purchasing power of Nigerians is still low.

Nigeria’s economy still fragile – Pat Utomi

Renowned political economist, Professor Pat Utomi, has advised the Federal Government to focus its attention more on job creation, and relating closely with the private sector in order to ensure that Nigeria remains out of recession.

Exit from recession shows Buhari is working – Adesina

Femi Adesina, presidential spokesman, says Nigeria’s exit from recession is a testimony that President Muhammadu Buhari’s administration is working for the progress and prosperity of citizens.

Buhari vows full implementation of economic recovery plan

President Muhammadu Buhari has welcomed the news of Nigeria’s exit from recession with cautious optimism, stressing that his administration will continue to drive the country’s economic growth by vigorously implementing the Economic Recovery and Growth Plan launched earlier this year.

Fed govt to boost Nigeria’s GDP via biotechnology – official

The Federal Government on Tuesday announced plans to improve the country’s Gross Domestic Products via biotechnology (the use of biological processes in industrial production).

Presidency reacts to economy being out of recession

The Presidency on Tuesday said the Buhari administration welcomes news of Nigeria’s exit from recession with “cautious optimism and will continue to drive Nigeria’s economic growth by vigorously implementing the Economic Recovery & Growth Plan launched earlier this year by President Muhammadu Buhari.”

Nigeria, South Africa exit recession in Q2

Nigeria and South Africa have both exited recession, notching up economic growth of 0.6 percent and 2.5 percent respectively in the second quarter, official data showed on Tuesday.

Nigeria’s economy emerges from recession in second quarter – NBS

Nigeria’s economy grew out of recession in the second quarter of 2017, expanding 0.55 percent year-on-year, the statistics office said on Tuesday.

Nigeria finally exits recession

The Nigerian economy has officially exited a painful recession according to data released by the National Bureau of Statistics (NBS).

Finance minister confirms N350bn release for capital projects

The Minister of Finance, Mrs. Kemi Adeosun, on Monday confirmed the release of the sum of N350bn to Ministries, Departments and Agencies of the Federal Government for the implementation of capital projects contained in the 2017 budget.

FIRS generates over N2trn in seven months

The Federal Inland Revenue Service, through tax collections, generated the sum of N2.11 trillion as revenue from January to July, 2017.

NBS to confirm Nigeria’s exit from recession Tuesday

The much awaited confirmation from National Bureau of Statistics (NBS) on whether or not Nigeria has finally exited its longest recession since 1987 will now be released on Tuesday.

Nigeria, South Africa likely out of recession

Africa’s two biggest economies likely emerged from recession in the second quarter but strong growth won’t show up until business confidence is restored, a Reuters poll suggested on Friday.

Fitch affirms Nigeria ‘B+’ rating, negative outlook

Fitch Ratings Thursday affirmed Nigeria’s long-term foreign currency Issuer Default Rating (IDR) at ‘B+’ with a “negative outlook”.

Brazil emerges from its worst recession

Brazil confirmed its slow exit from the country’s worst recession on record Friday with the economy nudging up 0.2 percent, the second straight quarter to show growth, the official statistics office said.

Most fed govt contractors evade tax – Adeosun

Kemi Adeosun, minister of finance, says less than 20% of contractors paid by the federal government and its agencies state the income received in their tax returns.

Recent Stories

Tijani Muhammad-Bande, President of the 74th session of the UN General Assembly, was among several Muslims that attended a special church service in New York on Monday evening.

Tijani Muhammad-Bande joins other Muslims in church to usher in 74th UNGA

Tijani Muhammad-Bande, President of the 74th session of the UN General Assembly, was among several Muslims that attended a special church service in New York on Monday evening.

Experts decry challenges in telecoms industry, proffer solutions

Stakeholders in the telecommunications industry, last week decried challenges impeding effective telecommunications service delivery in the country.
Governor Dapo Abiodun of Ogun State has assured industrialists in the state of his administration’s readiness to put an end to the deplorable state of road network affecting manufacturers and other road users in the state.

Ogun governor seeks assembly’s approval to access N1.5 billion loan

Governor Dapo Abiodun of Ogun State, has written the the state House of Assembly seeking approval to access a concessionary loan of N1.5billion from the Central Bank of Nigeria (CBN) for the Anchor Borrowers’ Programme with a single-digit interest rate.

Bayelsa guber: PDP sets up reconciliation committee

The Peoples Democratic Party (PDP) in Bayelsa State has constituted a nine-member committee to reconcile aggrieved members of the party.
The Economic and Financial Crimes Commission (EFCC) says an investigation is ongoing on the seized $2.8 million at Akanu Ibiam International Airport, Enugu.

EFCC arrests bank staff for ‘stealing N137 million’

The Economic and Financial Crimes Commission (EFCC), Ibadan zonal Office, has arrested one Olumide Agbabiaka, a sales agent with Fidelity Bank Plc for allegedly stealing N137million.