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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.

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.

Recent Stories

Briefing State House Correspondents on Wednesday after the virtual FEC meeting presided over by President Muhammadu Buhari at the Aso Rock Presidential Villa, Abuja, the Minister of Works and Housing, Babatunde Fasola, and Special Adviser to the President on Media and Publicity, Mr Femi Adesina, gave breakdowns of the approvals.

President Buhari seeks better deal on OPEC quota

President Muhammadu Buhari has appealed to the Organisation of Petroleum Exporting Countries (OPEC) to consider Nigeria’s huge population size and physical development deficits when sharing oil production cuts.

AfCFTA: Firm hosts conference on Nigeria’s non-oil sector in New York

A two-day conference aimed at repositioning Nigeria for increased global and regional trade engagements under the African Continental Free Trade Agreement (AfCFTA) opens on Friday.

Explosion cuts Agip’s output by 30,000 barrels daily – Eni

The Nigerian Agip Oil Company (NAOC) on Thursday said the Nov. 20 explosion at its oil field in Bayelsa would adversely impact crude export to the tune of 30,000 barrels daily.
Vice President Yemi Osinbajo on Thursday presided over a virtual meeting of the National Economic Council (NEC) at the Presidential Villa, Abuja.

VP Osinbajo: Nigeria has key role to play in AFCFTA negotiation

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.

CBN: Only cassava farmers growing improved varieties will have access to N25 billion loan

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.