Tag: Economy
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UK ranks Nigeria fastest growing economy in Africa amid recession
The United Kingdom Trade Envoy to Nigeria, Helen Grant, on Saturday said that Nigeria was the fastest growing economy in Africa. Ms Grant said this at the two-day Nigerian Diaspora Investment Summit (NDIS) organised by Nigerian in Diaspora Commission (NiDCOM), in collaboration with Nigeria Diaspora Summit Initiative (NDSI). It has the theme: “Post-COVID-19 Economic Resurgence:…
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Nigeria slips into second recession in five years
The Nigerian economy has slipped into its second recession in five years as the gross domestic product contracted for the second consecutive quarter. The National Bureau of Statistics announced Saturday the nation’s GDP recorded a negative growth of 3.62 per cent in the third quarter of 2020. The country had earlier recorded a 6.10 per…
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SARS and herdsmen: Economic terrorists with impunity – Dele Sobowale
SARS AND HERDSMEN: ECONOMIC TERRORISTS WITH IMPUNITY “Allow an intolerable economic situation to persist for too long and suddenly, there are no good solutions left.” Arthur Burns, 1904-1987, Chairman US Federal Reserve Bank, 1970-78. Arthur Burns was Chairman of the US Central Bank, equivalent fo our own Governor, under US President Richard Nixon, . He…
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FG expresses satisfaction as economy records 6.1% negative growth in second quarter
The Minister of Finance, Budget and National Planning, Dr Zainab Ahmed, has presented a report to the Federal Executive Council, showing that the Nigeria’s Gross Domestic Product (GDP) contracted by 6.1 per cent. But she added the economy showed some resilience compared with other economies around the world. Part of her report was earlier released…
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Nigeria using COVID-19 to restructure economy – Osinbajo
The Vice President, Professor Yemi Osinbajo (SAN), has said Nigeria is seizing the outbreak of the Novel Coronavirus COVID-19 Pandemic as an opportunity to restructure her economic outlook. Osinbajo disclosed this on Tuesday in Abuja at a Webinar organised by the Commonwealth Enterprise and Investment Council (CWEIC), with its focus on Nigeria. The Vice President,…
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COVID-19: FEC approves N2.3trn stimulus package to address disruption of economy
The Federal Executive Council (FEC) presided over by President Muhammadu Buhari on Wednesday approved N2.3 trillion stimulus package to support the Nigerian economy in the face of the disruptions and challenges of the COVID-19 pandemic. The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, who disclosed this to State House correspondents at the…
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Nigeria’s economy to feel COVID-19 impact from Q2 – NECA
The real impact of the coronavirus (COVID-19) pandemic would be felt in the Nigerian economy in the second quarter of 2020. This was the submission of the Nigeria Employers Consultative Association (NECA) in a statement it issued on Monday in reaction to the Gross Domestic Product (GDP) figures released yesterday by the National Bureau of…
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Downstream operators renew quest for total deregulation of oil sector
Operators in the petroleum downstream have told the Federal Government to take advantage of the unique opportunity provided by the crash in global crude oil prices to fully deregulate the sector. They also called for a legislative framework to address compliance, enforcement and pricing in the importation of Premium Motor Spirit (PMS), to ensure that…
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Lockdown: Delta Govt. evolves modalities to rejuvenate economy
The Delta Government on Thursday, charged all its contractors to return to site as part of measures to revive the state economy which had been devastatingly impacted by the coronavirus (COVID-19) pandemic. The Commissioner for Information, Mr Charles Aniagwu, told newsmen in Asaba on Thursday that government’s decision was aimed at stimulating the state economy…
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CBN rallies manufacturing, agric sectors to jump-start economy
The Central Bank of Nigeria (CBN) has appealed to industrial conglomerates operating in the country to support efforts aimed at growing the Nigerian economy and returning it to its glory days. At a meeting with the Chief Executive Officers (CEOs) of conglomerates in Nigeria, Governor of the CBN, Mr Godwin Emefiele, said he would be…