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Professor of Finance and Capital Market
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.
The Nigeria Labour Congress has rejected the increase in price of Premium Motor Spirit, also known as petrol, from N148.50 per liter to N151.56 per litre.
This came as the Federal Government, yesterday, said despite the N2.3 trillion Economic Stimulus Plan put in place to contain impact of the Coronavirus (COVID-19) pandemic on the economy, there is the possibility that the third quarter, 2020 (Q3’20) Gross Domestic Product, GDP, growth rate will be negative, while the economy will relapse into a recession.
The Chairman of Abuja Chapter of Chartered Institute of Bankers of Nigeria (CIBN), Prof. Uche Uwaleke, has commended the Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, for his commitment to funding Micro, Small and Medium Enterprises (MSMEs).
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.
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.
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 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.
Nigeria’s Voice in Culture and Tourism and President World Craft Council (WCC) Africa Region, Chief Segun Runsewe, has proposed the certification and endorsement of entry regime and job profiling in the tourism and hospitality industry in Nigeria by the National Institute for Hospitality and Tourism (NIHOTOUR).
Taraba State Governor Darius Ishaku on Tuesday called on the Federal Government and other humanitarian agencies to assist the State to rebuild structures and replace items damaged or stolen by hoodlums during the #EndSARS protests in the State last month.
President of African Development Bank (AfDB), Akinwunmi Adesina, has backed former Nigeria Head of State, Yakubu Gowon, refuting the claims that he ”looted half of Central Bank of Nigeria to the UK.”
A Public Health Consultant, Dr Claribel Abam, has cautioned geriatrics (the elderly) against embarking on prolonged fasting, which may impact negatively on their body organs.
President Muhammadu Buhari has said his desire is to make Nigeria a country that has no tolerance for corruption, but one where the menace is vigorously battled.