News

Nigeria’s GDP Grows 3.46% in Q3 2024, Boosted by Services Sector

Ihesiulo Grace 26 November 2024 0

Nigeria’s economy recorded a 3.46 per cent year-on-year growth in Gross Domestic Product during the third quarter of 2024. This was revealed in the latest GDP report from the National Bureau of Statistics on Monday. The growth represents an improvement over the 2.54 per cent recorded in the

Money

Manufacturing sector’s contribution to Nigeria’s GDP declines to 8.23%

DailyTimesNGR DailyTimesNGR 27 February 2024 0

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 […]

Business

Agency lists factors that ‘ll shape economic growth in 2024

DailyTimesNGR DailyTimesNGR 9 February 2024 0

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 […]

Politics

Telecom sector’s contribution to Nigeria’s GDP up 14.13% to N2.508trn in Q1

Ihesiulo Grace 9 June 2023 0

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 […]

Business

Internet economy to contribute $36bn to Nigeria’s GDP by 2025

Ihesiulo Grace 29 November 2022 0

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 […]

Business Headlines

Nigeria’s GDP records 3.11% growth in Q1 of 2022

Ihesiulo Grace 24 May 2022 0

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 […]

News

GDP performance of Nigeria’s Presidents since 1999

Ihesiulo Grace 21 May 2021 0

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 […]

Business News

Economy in Nigeria is facing negative development — NBS

Ihesiulo Grace 24 August 2020 0

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 […]

Foreign

EU GDP shrinks 3.5 per cent; eurozone unemployment up to 7.4 per cent

Ihesiulo Grace 30 April 2020 0

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 […]

Foreign

German economists warn of dramatic 9-per-cent contraction in GDP

Ihesiulo Grace 19 March 2020 0

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 […]

Business

We’re investing Pension assets in critical sectors of economy – PenCom DG

Ihesiulo Grace 19 October 2019 0

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 […]

Business News

Only leaders with integrity can drive Nigeria’s economic growth – Ambode

Ihesiulo Grace 15 November 2018 0

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 […]

Headlines News

Dangote investments account for 10% of Nigeria’s GDP- Report

Ihesiulo Grace 31 October 2018 0

…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

Business Headlines

Heritage Bank, Rivers partner to make arts, culture key driver of GDP growth

Ihesiulo Grace 29 October 2018 0

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 […]

Business Headlines

How 2019 uncertainty, others affected banks investment in August

Ihesiulo Grace 5 September 2018 0

…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 […]

News Nigeria

Institute director canvasses suitable agric training for geo-political zones

Ihesiulo Grace 2 September 2018 0

National Executive Director, Centre for Agricultural Mechanisation (NCAM) Ilorin, Dr Yomi Kasali has canvassed agricultural training along the peculiar needs of geo political zones of Nigeria towards greater outputs and improved Gross Domestic Products (GDP) of the nation. Kasali, while addressing participants at the Training on N-Agripreneur in Milling and Threshing

Business News

GDP falls to 1.50% in Q2 – NBS

Ihesiulo Grace 27 August 2018 0

Nigeria’s Gross Domestic Product (GDP) has declined from 1.95 percent recorded in the first quarter (Q1) to 1.50 percent in Q2 2018, indicting 0.45 percent contraction. The National Bureau of Statistics (NBS) in a report released on Monday, says the economy grew by 0.72 percent in the same period in 2017 (Q2 2017). However, the […]

Business News

Nigeria records first strong GDP growth after recession

Ihesiulo Grace 27 August 2018 0

The Nigerian Bureau of Statistics (NBS) has reported that for the first time since Nigeria’s exit from recession, the Gross Domestic Product (GDP) has recorded growth. Driven by the non-oil sector, GDP which grew by 2.05 per cent in the second quarters of 2018 represented the strongest growth in non-oil GDP since fourth quarter of […]

Business

FG: Projected 3.5% Nigeria’s GDP growth rate achievable

Ihesiulo Grace 3 March 2018 0

Following the latest released of the Nigeria’s Gross Domestic Product (GDP) growth rate of 1.92 per cent in the fourth quarter y/y as against 1.40 per cent y/y in the previous quarter, the Federal Government (FG) of Nigeria has reiterated that that 3.5 per cent growth estimated for 2018 year is on course. The Statistics […]

Business

2017 GDP: Metal Ore tops highest performing sector

Ihesiulo Grace 2 March 2018 0

The Nigerian Bureau of Statistics (NBS) on Tuesday, released the GDP numbers for year 2017. The FY-17 growth came in at a positive 0.83 per cent amid stronger agriculture sector output, rebound in oil output and FX stability. But, a sectoral analysis released by United Capital (UCAP) on Thursday reveal that the Metal Ores sub-sector […]