Minister excited as ICT contributes 14.07 percent to GDP
The Minister of Communications and Digital Economy, Dr Isa Pantami, has expressed delight over the growth of ICT’s contribution to Nigeria’s GDP in the first quarter of 2020 (Q1 2020).
Lagos supports 2,204 businesses in one year to reduce unemployment
Lagos State Commissioner for Wealth Creation and Employment, Mrs Yetunde Arobieke, said the Lagos State Employment Trust Fund (LSETF) has supported 2,204 businesses to expand with the aim of reducing unemployment in the state.
Nigeria’s Q1 capital import hits $5,854.38 million
Nigeria’s total value of capital import stood at $5,854.38 million in the First Quarter of the year, according to the National Bureau of Statistics (NBS).
NBS: Capital importation into Nigeria stands at $5.8 billion in Q1
The National Bureau of Statistics (NBS) has said the total value of capital importation into the country stood at 5.8 billion dollars in the first quarter (Q1) of 2020.
Nigeria’s economy expands 1.87% y/y in Q1 – stats office
Nigeria’s economy grew 1.87% in the first three months of 2020 from a year earlier, the statistics office said on Monday, shrinking from the previous quarter as oil prices and international trade fell due to the coronavirus pandemic.
Nigeria’s economy grow by nearly 2 percent in Q1 despite lockdown
Nigeria’s Gross Domestic Product (GDP) grew by 1.87% on a year-on-year basis in the first quarter of 2020 despite many economic contractions around the world, a new by National Bureau of Statistics report has shown.
S&P forecasts South Africa’s economy to shrink 4.5 percent in 2020
S&P Global Ratings on Friday said it projects South Africa’s economy to shrink by 4.5% this year as a result of the COVID-19 pandemic that has impacted production and consumption.
Tunisia’s GDP shrank 1.7 percent in the first quarter of 2020
Tunisia’s GDP shrank by 1.7% year-on year in the first quarter of 2020, the State Statistics Institute said on Friday, as the vital tourism sector has been hit hard by the coronavirus crisis.
Minister: Nigeria is heading towards recession
Nigeria’s Finance Minister, Zainab Ahmed, has revealed that the coronavirus pandemic and falling oil prices are set to force the county’s economy into recession.
NBS: Inflation rises to 12.34 percent in April
The National Bureau of Statistics (NBS) says the Consumer Price Index (CPI), which measures inflation, increased by 12.34 per cent year-on-year in April 2020.
NBS: Nigerian annual inflation at 12.34 percent in April
Annual inflation in Nigeria stood at 12.34% in April, compared with 12.26% in March, the National Bureau of Statistics said on Thursday.
Fitch: 417,000bpd oil cut’ll deepen Nigeria’s recession
A global credit ratings agency, Fitch Ratings, has said Nigeria’s compliance with the oil production cut deal led by the Organisation of Petroleum Exporting Countries will lead to deeper economic contraction and fiscal deficits.
IMF: Uganda’s reserves will decline sharply without external help
Without external help, Uganda’s foreign exchange reserves will fall to under 2 months of import cover in 2020/21 and leave the country in a vulnerable position, the International Monetary Fund said in a statement issued on Friday.
Finland’s industrial output grows by 2.8% in March
Finnish industrial output rose 2.8 per cent in March from a year earlier in of spite the coronavirus outbreak with chemicals surging, data from Statistics Finland showed on Friday.
UNECA: Africa will lose $65 billion to full lockdown
Mr Stephen Karingi, Director, Regional Trade and Integration, United Nations Economic Commission for Africa (UNECA), says African economy will lose 65 billion dollars if there is a full lockdown of the continent due to COVID-19.
2020 budget: OPS backs proposed $20 oil price benchmark
Members of the organised private sector (OPS) and some analysts have hailed the plan by the federal government to further review downward the oil price benchmark in the 2020 budget to $20 per barrel.
Coronavirus lockdown pushes South African PMI to record low in April
South African private sector activity fell to a new record low in April, a business survey showed on Wednesday, as company closures due to a nationwide coronavirus lockdown led to a collapse in demand.
Lagos chamber educates private sector on post coronavirus economy
The Lagos Chamber of Commerce and Industry (LCCI) has advised organised private sector to leverage creativity and innovation to rebuild a competitive economy post-COVID-19.
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Huawei will stop producing Kirin chipsets on September 15
Huawei will stop making its flagship Kirin chipsets next month, financial magazine Caixin said on Saturday, as the impact of U.S. pressure on the Chinese tech giant grows. U.S. pressure on Huawei’s suppliers has made it impossible for the company’s HiSilicon chip division to keep making the chipsets, key components for mobile phone, Richard Yu, CEO of Huawei’s Consumer Business Unit was quoted as saying at the launch of the company’s new Mate 40 handset.
House of Reps uncovers abandoned power projects worth over N156 billion
The Federal House of Representatives, in it’s oversight function, has uncovered many power projects, put together at the cost of N156 billion, that are being abandoned or are yet to be completed by the Transmission Company of Nigeria (TCN).
Biafra group warns Miyetti Allah against operating security outfit in South-east, South-south
The Biafra Nations Youth League, BNYL, on Saturday, warned Miyetti Allah Kautal Haure not to allow the Fulani Security group to operate in the Southeast and Southsouth to avoid bloody confrontation by both groups.
Governor El-Rufai: South should produce next President
Barely a week after President Muhammadu Buhari’s closest ally and nephew, Malam Mamman Daura, spoke against zoning of presidency ahead of the 2023 election, Kaduna Governor Nasir El-Rufa’i has said the next President should come from the South.
LAWMA arrests 13 cart pushers for environmental laws violation
Mr Ibrahim Odumboni, Acting Managing Director, Lagos State Waste Management Authority (LAWMA), said the authority arrested 13 cart pushers and seized 29 carts for violating environmental laws of the state.
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Jesse Lingard put up for sale by Manchester United
Manchester United have put Jesse Lingard up for sale, according to The Guardian.
DHQ: Nothing new about ISIS, Al-Qaeda infiltration
The Defence Headquarters has said that the reported activities of the Islamic State and Al-Qaeda terrorist groups in West Africa is not new.
Anambra CP summons DPOs, others over rise in cultism
The Commissioner of Police in Anambra, Mr. John Abang, has summoned all the Divisional Police Officers, DPOs, and Tactical Commanders to an emergency meeting, following an increase in cultism in the state.
Pastor Adeboye, PFN, others welcome re-opening of worship centres
General Overseer of the Redeemed Christian Church of God, RCCG, Pastor Enoch Adejare Adeboye, Catholic Archbishop of Lagos, Most Rev. Alfred Adewale Martins, the Lagos State branch of the Pentecostal Fellowship of Nigeria, PFN were the first set of Christians to welcome the re-opening of worship centres that were shot down since March this year as part of measures to arrest the spread of the dreaded coronavirus.
Rep Elumelu: Opposition lawmakers leading anti-corruption investigations
The Minority Leader of the House of Representatives, Rep. Ndudi Elumelu (PDP-Delta), says opposition lawmakers in the house have been at the center of unearthing and exposing acts of corruption in the country.