The UK economy unexpectedly accelerated in the third quarter, upping the pressure on the Bank of England to hike interest rates next month. The Office for National Statistics (ONS) said gross domestic product (GDP) grew by 0.4% in its initial estimate for July to September this year. The rise is above expectations of 0.3%, as […]
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Nigeria’s external reserves have risen to the highest level in almost three years as it hit $33.11 billion last Thursday, data from the Central Bank of Nigeria(CBN) has shown. That development has put the country’s reserves back at a level not seen since December 2014. Last month, the reserves stood at $33 billion as at […]
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Siemens Nigeria CEO, Mrs. Onyeche Tifase said that Nigeria has the potential to achieve 7.0 per cent gross domestic product, GDP, growth rate and lift 70 million people above poverty provided there is sufficient access to electricity across the country. Making this observation in Lagos, yesterday, Mrs. Onyeche Tifase, cited deployment of smart metering technology […]
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Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Garba Danbatta, disclosed in Abuja, yesterday, that the telecoms sector contributed a whopping sum of ₦1.549 trillion to the Gross Domestic Product (GDP) of the economy in the second quarter of 2017, representing 6.68 per cent increase from what was recorded in the first quarter […]
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Nigeria’s Statistician-General of the Federation and Chief Executive, National Bureau of Statistics, Dr. Yemi Kale, on Wednesday explained why Nigerians were not feeling the real impact of the positive economic growth rate on their lives. According to correspondence, Kale attributed the non-impact of the exit from recession on the citizens to the structure of the […]
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A surge in agriculture has helped lift Africa’s biggest economies out of their slumps, but the recovery may be weak. Gross domestic product in Nigeria, the continent’s largest crude producer, advanced for the first time in six quarters in the three months ended June from a year earlier, growing 0.55 percent, the statistics agency said. […]
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Nigeria and South Africa have both exited recession, notching up economic growth of 0.6 percent and 2.5 percent respectively in the second quarter, official data showed on Tuesday. Nigeria’s economy returned to growth after five consecutive quarters of contraction, driven by a strong performance in the oil, agricultural, manufacturing and trade sectors, according to the […]
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After suffering contraction for five consecutive quarters, the Nigerian economy is now officially on the rebound as the National Bureau of Statistics NBS in its second quarter Gross Domestic Product Q2 GDP report Tuesday announced Nigeria’s exit from recession. According to the report, the economy grew at 0.55 per cent (year-on-year) in real terms, in […]
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Telecommunications sector of the nation contributed ₦1.6tn to Nigeria’s Gross Domestic Product in the second quarter of the year, the Nigerian Communications Commission said on Thursday. The Executive Vice Chairman of the NCC, Prof. Umar Danbatta, said this when he visited the Minister of the Federal Capital Territory Administration, Mr. Mohammed Bello, in Abuja. On […]
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Nigeria requires at least an investment of 20 per cent of the Gross Domestic Product (GDP) per annum, far above the investment level of 12.6 per cent of GDP this year, to drive growth, The Nation reports. This translates to an investment of $55 billion, or ₦20 trillion, reflecting that the country would have to […]
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The nation’s Gross Domestic Product (GDP) in a report by the National Bureau of Statistics (NBS), showed a contraction of -0.52 per cent (year-on-year) in real terms in the first quarter of 2017. The NBS report, tagged, ‘Nigerian Gross Domestic Product Report for first quarter 2017’ released yesterday in Abuja, according to the NBS, represented the fifth […]
Read More China has reiterated its resolve to partner Nigeria in the implementation of the Economic Recovery Growth Plan (ERGP), especially in the area of agricultural development, saying that it has the capacity to grow the country’s agriculture Gross Domestic Product (GDP) from ₦16 trillion in 2015 to ₦21 trillion in 2020. The revelation made during a […]
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