Business Headlines

Again, Nigeria exits recession

Ihesiulo Grace 24 May 2021 0

*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

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Declining GDP: Recession looms as Nigeria’s economy grows marginally by 1.87%

Ihesiulo Grace 26 May 2020 0

…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

Business

Nigeria to record average GDP of 2.4% in 2 years Report

Ihesiulo Grace 6 January 2020 0

…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 […]

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Why Aviation industry contribution to Nigeria’s GDP is low – Sanusi

Ihesiulo Grace 16 December 2019 0

…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

Business Headlines

Nigeria’s GDP to hover below 2 percent in 2018 – World Bank

Ihesiulo Grace 29 November 2018 0

…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 […]

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Poverty rises as global youth unemployment hits 66m – ILO

Ihesiulo Grace 15 May 2018 0

…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 […]

News

Nigeria is the fifth happiest country in Africa says 2018 world happiness report

Ihesiulo Grace 15 March 2018 0

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 […]

Business News

Nigeria’s GDP grows by 1.40% in Q3 2017

Ihesiulo Grace 20 November 2017 0

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 […]

Tech

Mobile Broadband boosts global GDP by 2.8%- Ericsson

Ihesiulo Grace 9 October 2017 0

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 […]

Business News

2016 4th Quarter Report shows sign of economy recovery – FG

Ihesiulo Grace 1 March 2017 0

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