The former Vice President and chieftain of the ruling All Progressives Congress APC, Atiku Abubakar has welcomed news of Nigeria’s exit from recession but added that the country cannot truly claim to have exited recession if Nigerians cannot eat three square meal per day. In a statement issued Wednesday in Abuja by his Media Office, […]
Read More
The news that the nation exited its worst recession in 25 years was received with cautious optimism by a cross section of Nigerians on Tuesday, with many economists and analysts saying the 0.55 per cent growth in the Gross Domestic Product in the second quarter was slower than expected. They also warned that the growth, […]
Read More
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. […]
Read More
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 […]
Read More
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 […]
Read More
As controversies continue to trail the allocation of ₦350 billion for capital projects in 2017 ₦7.441 trillion budget, at a time Nigeria is facing the challenge of huge infrastructure deficit, many financial experts are calling on government to increase allocation for capital projects to over 50 percent of the total budget, in order to ensure […]
Read More
South Africa’s finance minister laid out an ambitious 14-point programme on Thursday to wrench the economy out of recession that included the sale of non-core assets and partial privatisation of state-owned firms. The plans to stimulate growth in the continent’s most industrialised economy appear to represent an ideological shift by the ruling African National Congress, […]
Read More
To talk about the competitive strength of Nigeria’s automobile industry is to be making a mere rhetoric in an area that is relatively unknown in the country. The number of used cars, as well as brand new ones being imported into the country speaks volumes of Nigeria’s long way to a virile, competitive and strong […]
Read More Skakeholders in the Nigerian economy, have expressed the belief that the country has come out of its the worst of its recession. At the CEO Roundtable held recently at the Nigerian Stock Exchange (NSE), stakehoders said while the lasted, businesses suffered erosion in bottom lines, forcing them to tweak models to stay in business and […]
Read More South African President Jacob Zuma told parliament on Thursday the economy would come out of recession “quicker than we believe”, his first public comments since data showed Africa’s most industrialised economy was struggling. The country sank into recession for the first time in eight years in the first quarter, hit by weakness in consumer sectors […]
Read More
South Africa’s economy – one of Africa’s biggest – is in recession. A 0.7 percent decline in GDP in the first quarter of this year followed a 0.3 percent contraction in the last quarter of 2016, meeting the definition of a recession as two or more quarters of negative growth, the South African government said […]
Read MoreThe Minister of Information and Culture, Mr Lai Mohammed, has defended the performance of the President Muhammadu Buhari administration with regard to the economy, saying its impact has been positive. He said this is more so considering the situation the administration met. Mr Mohammed said this on Tuesday when he appeared on Channels Television’s breakfast […]
Read More
