The International Monetary Fund (IMF) says Nigeria’s debt-to-gross domestic product (GDP) ratio is expected to decrease to 36.4 percent in 2025 and further to 35 percent in 2026. The projection was made in its latest Fiscal Monitor report, launched at the ongoing 2025 IMF/World Bank annual meetings on Wednesday in Washington DC, where the fund […]
The Manufacturers Association of Nigeria (MAN) has urged the federal government to prioritise industrialisation and structural reforms, saying Nigeria’s newly rebased Gross Domestic Product (GDP) does not reflect genuine economic progress. Segun Ajayi-Kadri, director general of MAN, said while recent GDP figures show signs of recovery, policymakers must resist the temptation to treat the rebound […]
Bismarck Rewane, economist and chief executive of Financial Derivatives Company, has advised Nigerian policymakers to shift focus from positive economic indicators to policies that improve the lives of ordinary citizens. His comments follow recent data from the National Bureau of Statistics (NBS), which showed that Nigeria’s Gross Domestic Product (GDP) grew by 3.13% in the […]
The National Bureau of Statistics (NBS) says Nigeria’s economy grew by 3.13 percent in the first quarter (Q1) of 2025, up from 2.27 percent recorded in the same period last year. In a statement released on Monday, the NBS said the growth was largely driven by the services sector, which recorded a 4.33 percent increase […]
Nigeria needs $100bn yearly in infrastructure to meet its 2050 economic goal of achieving a per capital Gross Domestic Product of $30,000 – the Federal Government has said. Minister of Budget and Economic Planning, Abubakar Atiku Bagudu, made this known last week in Abuja during a courtesy visit by the new Japanese Ambassador to Nigeria, […]
Beyond stability and grip, advanced camera handling opens doors to creativity. The way you tilt, angle, or even move your camera can transform ordinary shots into extraordinary works of art. One advanced technique is intentional camera movement (ICM). By deliberately moving the camera during exposure, you can create abstract, painterly effects. This requires confidence in […]
The contribution of the manufacturing sector to Nigeria’s Gross Domestic Product (GDP) in the fourth quarter of 2023 dropped from 8.40 per cent, as recorded in the corresponding period of the previous year, to 8.23 per cent, according to the GDP report for Q4 published by the NBS. On a quarter-on-quarter basis, the sector’s contribution […]
By Temitope Adebayo A Pan-African Credit Rating Agency Agusto & Co. has identified three major economic variables that are likely to have far reaching impact on Nigeria’s growth in Gross Domestic Product (GDP) in 2024. Agusto & Co is a leading provider of industry research and knowledge in Nigeria & Sub-Saharan Africa. The agency highlighted […]
By Motolani Oseni The telecommunications and Information Services sector in Nigeria has, in the first quarter of 2023, delivered a handsome N2.508 trillion in terms of financial value contribution to the nation’s Gross Domestic Product (GDP), representing 14.13 per cent. The percentage of telecom contribution to GDP was calculated from 46 distinct sectors of the […]
By Godwin Anyebe Juliet Ehimuan, Director, West Africa Google, has said that the Internet economy will contribute $36.5 billion to Nigeria’s Gross Domestic Product (GDP) by 2025. She said this on the first day of Zenith Bank’s hybrid tech fair, which took place recently in Lagos. According to her, over 100 million people are online […]
Nigeria’s Gross Domestic Product (GDP) grew by 3.11 per cent (year-on-year) in real terms in the first quarter (Q1) of 2022, the National Bureau of Statistics (NBS) has said. In its latest report published on Monday, the NBS revealed that the figure showed sustained positive growth for the sixth consecutive quarter since the recession witnessed […]
The International Monetary Fund has forecasted that Nigeria’s economy is expected to grow by 2.5% in 2021 and 2.3% by 2022, citing that a continued lack of access to vaccines will see Africa’s projected growth at 3.4% compared to the rest of the world at 6%. The projected growth of 2.3 and 2.5% predicted for […]
The growth rate of Nigeria’s Gross Domestic Product (GDP) decreased by 6.10% in the second quarter of 2020, the National Statistics Bureau (NBS) announced on Monday. Data from the Nigerian Gross Domestic Product Report for Q2 2020 showed the fall in the quarter was due to a contraction in domestic and foreign economic activity from […]
The European Union’s gross domestic product shrank 3.5 per cent in the first three months of the year, according to a first estimate from Eurostat, while eurozone unemployment climbed slightly in March to 7.4 per cent. The annual rate of inflation also plummeted to 0.4 per cent in the 19-member currency area in April, the […]
German economists are warning of a dramatic contraction in Europe’s biggest economy of up to 9 per cent as the corona crisis drives the nation into its first recession since the global financial crisis in 2008. As a series of unprecedented events unfold, analysts are scrambling to draw up forecasts for the virus’ economic impact. “There is […]
The acting director general of the National Pension Commission (PenCom), Aisha Dahir-Umar says the Commission is investing pension assets to advance socio-economic growth in critical sectors of the economy. Dahir-Umar says the pension assets which has grown to N9.4trillion as at August 2019, is channeled to investments in critical sectors especially at a time when […]
Lagos State Governor, Mr Akinwunmi Ambode on Wednesday said if Nigeria must develop and have sizable improvement in the nation’s Gross Domestic Product (GDP), people of good conscience and high integrity must be at the drivers’ seat in all spheres of the economy. Speaking at Lagos House in Alausa, Ikeja when he received national leadership […]
…With investments worth more than $40bn in Nigeria …Targets biggest $10bn philanthropic foundation in Africa As Nigeria remains the biggest economy in Africa, latest report has revealed that more than whopping $40 billion investments by the Dangote Group are responsible for over 10 per cent of the Nigeria’s Gross Domestic Product (GDP). The report, published […]
Heritage Bank Plc has disclosed that it will continue to work closely with Rivers State Government in an effort to make arts and culture a unifying factor and major earner to Gross Domestic Product (GDP) of the country. The Managing Director/CEO of Heritage Bank, Ifie Sekibo, made the pledge during the 2018 National Festival of […]
…Banking shares drop by 8.64% on NSE …Late filing of results affected 2 banks shares-Analysts Following slow growth in Gross Domestic Product (GDP) to 1.50 per cent in second quarter of 2018 as against 1.95 per cent recorded in the first quarter of 2018, and uncertainty surrounding the 2019 general elections , not less than […]