President Bola Tinubu has declared 2026 as the dawn of a “more robust phase” of economic prosperity for Nigeria, projecting sustained GDP growth and a further decline in inflation rates. In his New Year address to the nation on Thursday, January 1, 2026, the President highlighted the successes of his administration’s reforms in the past […]
Sixty-five years after independence, Nigeria’s economic journey tells a story of promise, pitfalls, and persistent ambition. From the discovery of oil that turned the country into a monolithic economy heavily dependent on crude exports, to decades of fluctuating revenues and failed attempts at diversification, successive governments have struggled to steer the nation towards sustainable growth. […]
*GDP records 0.51% growth in Q1 *’Economy on gradual part of recovering’ *Non-oil sectors remain largest contributors *Agriculture sector grew by 2.28% PHILIP CLEMENT, ABUJA, JOY OBAKEYE AND JOHN OKOH, LAGOS In spite of the several challenges caused by low oil prices and the second wave of the Covid-19 pandemic, Nigeria’s economy is finally out […]
…Agriculture, ICT major non-oil contributors in Q1 2020 …Experts urge FG to direct credit facilities to critical sectors of economy …NECA projects economic contraction in Q2 2020 Philip Clement, Abuja There are clear indications that Nigeria may be heading for another recession due to the global economic downturn, even as the nation’s Gross Domestic Product […]
…Projects surge in inflation this year …Says Naira may be further devalued in 2020 Nigeria’s Gross Domestic Product (GDP) growth is not expected to experience any significant rise in the 2020 fiscal year, a report by Fitch Ratings Inc, an American economic solutions company. According to Fitch, the economic policies implemented so far in Nigeria […]
…Says FG must protect Nigeria’s aviation industry to mature …Aero Contractors MRO gets boost as domestic airlines patronise facility Despite the long existence of Nigeria’s aviation industry, lack of implementation of policies, high taxation, infrastructure deficiencies, lack of human capital development, among many other challenges, have been identified as factors affecting the growth of the […]
…Says economy remains sluggish with unstable sectoral growth …Wants FG to implement key policy reforms The World Bank has said Nigeria’s Gross Domestic Product (GDP) growth is expected to hover slightly below 2 percent in 2018, largely driven by non-oil industry and services. The World Bank stated this in its Nigeria’s bi-annual Economic Update released […]
…Obaseki’s reforms throws up vacancies in Edo The International Labour Organisation (ILO) has said that global youth unemployment figure has risen to 66 million and nearly 145 million youths who are working live in abject poverty. The ILO revealed this at its headquarters in Geneva, Switzerland, during a conference on innovations for decent jobs for […]
Nigeria has been ranked the 91 happiest nation of the world, and fifth in Africa in the 2018 World Happiness Report. The survey was released on Wednesday by the Sustainable Development Solutions Network (SDSN) as part of the UN World Happiness Day- March 20. SDSN is part of the UN’s response to the outcome of […]
Nigeria’s nation’s Gross Domestic Product (GDP) grew in third quarter (Q3) 2017 by 1.40% (year-on-year) in real terms, the second consecutive positive growth since the emergence of the economy from recession in Q2 2017. This growth is 3.74% points higher than the rate recorded in the corresponding quarter of 2016 ( –2.34%) and higher by […]
As mobile broadband penetration increases by 10 per cent, it causes a 0.6 per cent to 2.8 per cent rise in Gross Domestic Product (GDP), according to Ericsson’s report, titled: “How Important Are Mobile Broadband Networks for Global Economic Development?” which examines data from 135 countries. Ericsson report noted that a 0.6 per cent to […]
The National Bureau of Statistics (NBS) on Tuesday released the 2016 4th Quarter Gross Domestic Product (GDP) Report which shows a significant improvement in the country’s economic fundamentals and promising signs that things are beginning to turn for the better. Although the numbers are still negative, indicators in the critical sectors show some encouraging improvements […]