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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.
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.
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.
The National Bureau of Statistics (NBS), on Monday released Nigeria’s Gross Domestic Product (GDP), report for in the second quarter of 2020 (Q2 2020), showing 17.83 per cent contribution by the Information, Communication and Technology sector.
Nigeria’s Gross Domestic Product (GDP) growth rate dropped to 1.94 per cent (year on year) in real terms in the second quarter of the year (Q2 2019) compared to 2.10 per cent in the preceding quarter, according to the National Bureau of Statistics (NBS).
Vice President Yemi Osinbajo has stated that Nigeria has a key role to play in the successful negotiation process of the Africa Continental Free Trade Area, AfCFTA.
The Central Bank of Nigeria (CBN) has said only farmers who grow improved disease-free cassava stems will have access to the N25 billion facility it has created to boost cassava production in Nigeria.
Former Governor of Anambra State, Peter Obi, has asked the Judicial Panel of Inquiry (JPI) sitting in Awka, the state capital, to dismiss the petition of Mr Bonaventure Mokwe against him, describing it as abuse of process.
The National Information Technology Development Agency (NITDA) has commenced the third phase of virtual strategic capacity building training for Federal Public Institutions (FPI) in Abuja.
Porto defender Zaidu Sanusi has been named in the UEFA Champions League Team of the Week for matchday four.
New D’Tigers coach, Mike Brown, named Ike Iroegbu, Ike Diogu, Obi Emegano, Keith Omoerah, and Mike Gbinije as his starting five in his first match in charge against the South Sudan on Thursday in the first game of Group D qualifiers taking place in Kigali, Rwanda.
A family of three, father, wife and his infant baby were yesterday, killed in an auto crash along Benin-Auchi Expressway in Uhunmwonde Local Government Area of Edo.
The Federal Government says the CNN is making a desperate attempt to save itself from the errors in its second report on the alleged Lekki Toll Gate shooting.
Progressive Governors Forum (PGF), a platform of elected governors in the All Progressives Congress (APC) on Friday described the defection of Chief David Nweze Umahi, the Ebonyi State Governor to the ruling party as a testament of the party’s capacity to mobilise and unite all Nigerians.
Paris Saint-Germain are having to take a calculated risk on Neymar when it comes to Champions League competition, with Thomas Tuchel preparing to start the Brazilian against RB Leipzig.