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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.
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 Japanese economy contracted at an annualised rate of 27.8 per cent in the second quarter, as the world’s third-largest economy was devastated by the novel coronavirus pandemic, a government report showed on Monday.
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.
The Nigerian National Petroleum Corporation (NNPC), Shell Petroleum Development Company (SPDC) as well as Total have donated equipment to Nasarawa State government as part of their effort in curtailing the spread of COVID-19 pandemic in the state.
Lagos State Government has assured Lagosians of its commitment in ensuring that no stone is left unturned in its efforts towards protecting the rights and privileges of the girl child and women in the State.
International Air Transport Association (IATA), a trade association of the world’s airlines, says aviation industry in Africa will lose $2 billion in 2020 while global losses is expected to drop deeper at $118.5 billion in 2020.
Retired Justice Ayo Salami led Judicial Commission of Inquiry has recommended that in appointing a new chairman of the Economic and Financial Crimes Commission (EFCC) consideration should be given to candidates from other law enforcement or security agencies and core staff as provided in the EFCC establishment Act of 2004.
Stakeholders in the downstream value chain of the oil and gas sector has stressed that deregulation remaines the most appropriate and sustainable direction available to the nation as global price of crude oil continues to reel under the pressure of the global coronavirus pandemic.
The police in Abeokuta, Ogun State, have arrested a suspected robber, Alo Monday, after his gang snatched a Toyota Camry from one of their victims.