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Budget Minister Happy Over Economic Performance Since Recession

Nigeria’s Minister of Budget and National Planning, Senator Udoma Udo Udoma, has expressed delight at the 4th Quarter 2018 numbers released today by the National Bureau of Statistics (NBS). In a statement by his Special Adviser, Akpandem James said senator Udoma was particularly encouraged by the fact that the growth was largely driven by the non-oil sector which grew by 2.70% in the quarter, posting a growth of 2.0% for full year 2018, representing the strongest growth in non-oil Gross Domestic Product, GDP since the…

Nigeria’s GDP Grows By 1.93% In 2018

The National Bureau of Statistics on Tuesday released the country’s Gross Domestic Product report for the fourth quarter GDP with the economy recording a growth rate of 1.93% in 2018. According to the report, the GDP grew by 2.38% as against the 1.81% recorded in the third quarter. “In the fourth quarter of 2018, Nigeria’s Gross Domestic Product (GDP) grew by 2.38% in real terms (year-on-year). This represents an increase of 0.27% points when compared to the fourth quarter of 2017 which recorded a growth rate of 2.11%.…

How I’ll Turnaround Nigeria’s Economy – Atiku

The 2019 presidential standard-bearer of the Peoples Democratic Party (PDP), Atiku Abubakar, has identified five key areas where he intends to focus attention to drive growth and productivity in the Nigerian economy if elected president in 2019. Atiku had on Sunday released a 63-page policy document tagged “Let’s Get Nigeria Working Again” where he outlined his proposed economic development agenda and how he intends to “build the economy of our dream”. In the policy document, the former Vice President presented himself…

Heritage Bank Calls For Innovation In Agricultural Sector

Managing Director/Chief Executive, Heritage Bank Limited, Mr Ifie Sekibo has called for innovation in the country's agricultural sector. Sekibo, speaking to a group of investors, stated that the innovation is necessary to help maximise the sector’s contributions to the nation’s Gross Domestic Product (GDP), adding that it will further aid to tackle the challenges of productivity in the agricultural sector. Speaking on the challenges and potentials of Nigeria’s agricultural sector, he said: “Statistically, we are about…

GDP Report: Udoma Hails Growth Of Non-Oil Sector

The Minister of Budget and National Planning, Senator Udoma Udo Udoma, says the federal government is encouraged by the “continuing” growth recorded in the non-oil sector, following release of the latest GDP report. Recall that the National Bureau of Statistics (NBS), on Monday, released the second quarter GDP Growth numbers, which showed that the non-oil sector grew by 2.05 percent in the second quarter of 2018. According to the report, the non-oil growth was driven by Transportation (road, rail water and air) which…

Funke Akindele Signs Endorsement Deal With Keystone Bank

Nollywood actress, Funke Akindele Bello, popularly known as ‘Jenifa’, is the official brand ambassador of Keystone Bank Limited. This was made known by the bank in a statement made available to this medium in Lagos on Monday. According to the statement, Akindele will prominently represent the Bank brand and feature heavily in the lender’s marketing campaigns and consumer-focused strategies, “to further deepen the brand’s growing impression in the market”. Speaking during the contract signing ceremony at the bank’s…

BREAKING: Nigeria’s GDP Slows In Q2

Nigeria Gross Domestic Product slowed in the second quarter of 2018 to 1.50 percent compared to 1.95 percent recorded in the first quarter. This was according to figures released by the National Bureau of Statistics (NBS) on Monday. According to the data, second quarter GDP was driven by Non-Oil sector growth of 2.05 percent, however Oil GDP contracted by -3.95 percent as against 14.77 per cent in the first quarter. The report said for the first time since Nigeria’s exit from recession, growth was driven by the…

FG To Borrow N1.6tn To Fund 2018 Budget – Udoma

The Minister of Budget and National Planning, Sen. Udoma Udo Udoma, says the Federal Government will borrow N1.6 trillion to finance part of the N9.12 trillion 2018 budget. The minister said this on Thursday in Abuja at the presentation of the approved 2018 Budget of Consolidation. The N9.12 trillion 2018 budget was signed by President Muhammadu Buhari on Wednesday after it was raised from N8.61 trillion by the National Assembly. The budget expenditure was premised on oil price benchmark of 51 dollars per barrel,…

‘You Applied Wrong Policies’, Ezekwesili Blames Buhari For Recession

Former Minister of Education, Oby Ezekwesili, says the current administration of President Muhammadu Buhari applied “wrong economic policies” that plunged Nigeria into recession in 2016. Ezekwesili said this on Monday while speaking on Channels Television’s breakfast programme, “Sunrise Daily” in Abuja, the nation’s capital. Scorecard on President Muhammadu Buhari’s three-year-old administration was assessed during the programme. She featured on the programme alongside Junaid Mohammed, second republic lawmaker, and…

IMF Predicts 3.4% Growth For Nigeria, Others

The International Monetary Fund (IMF), on Monday said Nigeria and other Sub-Saharan countries would grow their economies by an average of 3.4 per cent in 2018, from 2.8 per cent in 2017. IMF’s country Senior Representative, Mr Amine Mati, said this during the public presentation of the Spring 2018 Issue of the Sub-Saharan African Regional Economic Outlook (REO) in Lagos. The theme of the presentation was, “Domestic Revenue Mobilisation and Private Investment.” Mati said about two-third of the countries in the region…
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