Economy

Recession: CSOs express dismay over alleged poor management of economy

Civil Society Organisations, CSOs, Monday, expressed dismay over alleged poor management of economy following the recession that struck the economy at the weekend as reported by the National Bureau of Statistics, NBS.
Zainab Ahmed, the minister of finance, budget and national planning, says state and local governments share some of the responsibility to fix roads in Nigeria.

Nigeria will exit recession in first quarter of 2021 – minister

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, on Monday, said the country will exit the current recession by the first quarter of 2021.
President Muhammadu Buhari, on Friday, said the Federal Government would engage the services of members of the National Youth Service Corps to champion the implementation of the Sustainable Development Goals 2030 at the grassroots.2

President Buhari: Coronavirus caused Nigeria’s recession

As Nigeria slips into recession for the second time in five years, President Muhammadu Buhari, says it came about because of the severity of the global economic downturn caused by the COVID-19 pandemic.
Minister of Finance, Zainab Ahmed

Recession: Nigeria doing better than some other economies – minster

Zainab Ahmed, the minister of finance, budget and national planning, says the recession will be short-lived.
SAMSON OLASUPO AYOKUNLE (President, Nigerian Baptist Convention & CAN)

CAN asks President Buhari to invite church leaders over recession

The President of the Christian Association of Nigeria, CAN, Reverend Samson Ayokunle, Monday, asked President Muhammadu Buhari, to invite church leaders on how to lift the country out of recession immediately, even as they called for constitutional reform.

Report: Nigeria needs $3 trillion to bridge infrastructure gap

Global credit rating agency, Moody’s Investors Service, has stated that the infrastructure in Nigeria is behind other emerging market peers, with about $3tn needed over 30 years to close the gap.
Minister of Finance, Zainab Ahmed

Nigerian Economic Summit to discuss ‘partnerships for resilient economy’

Policymakers, business leaders, development partners and scholars will discuss how to create strategic partnerships between the youth, governments, private sector and the civil society at the 26th Nigerian Economic Summit starting on Monday.

Kingsley Moghalu: Only intellectual leader will change Nigeria’s economy

The former presidential candidate on Monday said unless the problem of leadership selection and constitution structure is addressed, Nigeria’s economy cannot create wealth for its citizens except for those with political connections.
The Nigerian Export Promotion Council (NEPC) says it is working with relevant ministries departments and agencies for payment of N124 billion backlog of claims under the Export Expansion Grant (EEG) scheme.

NEPC, MDAs working to clear N124 billion backlog of export claims – director

The Nigerian Export Promotion Council (NEPC) says it is working with relevant ministries departments and agencies for payment of N124 billion backlog of claims under the Export Expansion Grant (EEG) scheme.

NBS: Nigeria’s ICT sector contribution to GDP declines

The Nigeria Bureau of Statistics (NBS), has said the information and communication sector contributed 9.57 per cent to the overall Gross Domestic Products (GDP) in the country’s third quarter in 2020.

MAN, LCCI others blame recession on coronavirus, #EndSARS crisis

Nigeria has formally entered its second economic recession in five years as the severe impact of the COVID-19 pandemic on global crude oil prices and restrictions imposed to curb the virus caused the nation’s economy to contract for the second consecutive quarter by 3.62 percent in the third quarter of 2020.
NECA’s Director-General, Mr Timothy Olawale, who made the call on Tuesday in Lagos, called for more specific and direct business sustainability schemes, to save the private sector.

NECA calls for urgent economic recovery effort

The Nigeria Employers Consultative Association (NECA) has called for urgent economic recovery effort in view of the Gross Domestic Product (GDP) data released by the National Bureau of Statistics (NBS).

Recession: The worse may be possibly over – Lagos chamber

The Lagos Chamber of Commerce and Industry (LCCI) says the nation’s economic contraction of 3.62 per cent of the third quarter against the 6.1 per cent of the second quarter of the year may indicate that the worst is over.

Recession: Financial expert seeks aggressive implementation of ESP

Uche Uwaleke, Professor of Finance and Capital Market, has called for early passage of the 2021 Appropriation Bill and aggressive implementation of the Economic Sustainability Plan (ESP), as the country enters recession.
Hon. Helen Grant, United Kingdom Trade Envoy to Nigeria, has said that Nigeria was the fastest growing economy in Africa.

Nigeria fastest growing economy in Africa – UK trade envoy

Grant said this at the two-day Nigerian Diaspora Investment Summit (NDIS) organised by Nigerian in Diaspora Commission (NiDCOM), in collaboration with Nigeria Diaspora Summit Initiative (NDSI).
The Central Bank of Nigeria (CBN), said more than one million smallholders farmers had access to finance through its Anchor Borrowers Programme.

NBS: Nigeria’s agric sector GDP contribution improves in Q3 2020

The Nigerian Bureau of Statistics (NBS) has said Nigeria’s Agricultural sector contributed 30.77 per cent to the overall Gross Domestic Product (GDP) of the country in the third quarter of 2020 (Q3 2020).
Lagos-based lawyer and human rights activist, Mr Olisa Agbakoba

Agbakoba suggests path to Nigeria’s economic growth

A Senior Advocate of Nigeria (SAN), Dr Olisa Agbakoba, has said that for Nigeria to experience rapid economic growth there is the need for some agencies of the Federal Government to come together and harness their potentials.

Nigeria officially enters another recession as GDP contracts by 3.62% in Q3’ 2020

National Bureau of Statistics (NBS) said that the nation’s economy has formally entered into recession as the Gross Domestic Product (GDP) contracted for the second consecutive quarter by 3.62 percent in the third quarter of 2020.

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Twenty days after the expiration of the tenure of Acting Chief Justice of Cross River State, Justice Maurice Eneji, the Federation of Akwa Ibom Women Associations (FAIWA) has decried the non-appointment of Justice Akon Aquaisua Ikpeme as the substantive Chief Judge of Cross River State.

Cross River Assembly to confirm Justice Ikpeme as substantive chief judge

The Cross River State House of Assembly has scheduled to confirm Justice Akom Ikpeme as Substantive Chief Judge of the State on Thursday, January 28, 2021.
Paul Pogba has defended his former team-mate Zlatan Ibrahimovic against accusations of racism following the Swedish forward's clash with Romelu Lukaku on Tuesday.

Paul Pogba defends Zlatan Ibrahimovic against racism allegations

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The Miyetti Allah has called for the arrest of Chief Sunday Adeyemo popularly known as Sunday Igboho for the alleged assault on the Seriki Fulani of Oyo state, Alhaji Saliu Abdulkadir.

Sunday Igboho: I’m coming for killer herdsmen in Ogun

Yoruba activist, Sunday Adeyemo popularly known as Sunday Igboho, has declared Ogun state will be his next destination to flush out criminal herdsmen.
The logo of the International Monetary Fund (IMF), is seen during a news conference in Santiago, Chile, July 23, 2019. REUTERS-Rodrigo Garrido

IMF: Coronavirus vaccines rollout gives global economy fresh prospects

The International Monetary Fund has said that the approval and rollout of vaccines have boosted expectations of a global recovery and lifted risk asset prices, despite rising COVID-19 cases and softening economic activity, not only in late 2020 hope of greater prospects in 2021.
The ministry of power works and hosing has asked Nigerians to be rest assured that the third mainland bridge in Lagos poses no danger to users.

Nigerian government to shutdown Third Mainland Bridge for another 72 hours delicate repairs from...

The Federal Controller of Works Lagos, Mr Olukayode Popoola, on wednesday announced another three days of total shutdown of the Third Mainland Bridge for another round of delicate expansion joints replacement.