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 […]
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 Enterprises at the NCAM, […]
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 […]
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 […]
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 […]
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 […]
…advocates low interest rate regime Sustenance of growth recorded by Nigeria’s non- oil sector will help to further boost rise in the gross Domestic product (GDP) of the country. Investment One research in its analysis of the Nigerian Bureau of Statics report (NBS) Q4 2017 GDP report released on Tuesday, which showed a stronger than […]
Full year report by the National Bureau of Statistics (NBS) has showed that the Nigeria’s Gross Domestic Product (GDP) grew by 1.92 while the economy grew by 0.82 per cent in 2017. The 0.82 per cent growth in GDP is an improvement over the contraction of -1.58 per cent which the economy recorded in 2016 […]
Some financial experts on Tuesday urged the Federal Government to create window of opportunities for the manufacturing sector to sustain the present Gross Domestic Product (GDP) growth. They stated this in separate interviews with the News Agency of Nigeria (NAN) in Lagos, while reacting to the third quarter GDP figure released by the National Bureau […]
The National Bureau of Statistics (NBS) latest economic report has said that the oil sector contributed 8.19 percent of total real GDP in the 3rd quarter of 2016. The sector’s 8.19 percent is down from figures recorded in the corresponding period of 2015 and the preceding quarter of 2016 recorded at 10.27 percent (2nd quarter) […]