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Tag: recession

  • JUST IN: CBN retains MPR at 13.5%, says Covid-19 pandemic may lead Nigeria into recession

    The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) has held the Monetary Policy Rate (MPR) constant at 13.5%.

    This was disclosed by Governor, CBN, Godwin Emefiele while reading the communique at the end of the MPC meeting.

    Other parameters such as Cash Reserve Ratio (CRR), Liquidity ratio, and asymmetric corridor remain unchanged.
    According to the MPC, the decision to hold all rates constant was largely driven by the outbreak of COVID-19 that has largely disrupted the global economy, as Nigeria faces a crunch test following crash in oil price.

    Emefiele further noted that the current pandemic may lead Nigeria into another round of recession.

    Emefiele said the Committee also left the Asymmetric Window at +200 and -500 basis points around the MPR.

  • Emefiele reacts to Yari’s recession alarm

    The Central Bank of Nigeria (CBN) on Tuesday dismissed the alarm raised by Govenor of Zamfara State and chairman of the Nigeria Governors Forum (NGF) Abdulaziz Yari that the economy might relapse into recession.

    Recall that Yari had on Monday during the opening of a three-day retreat for returning governors and governors-elect in Abuja warned of an impending recession by the mid-2020.

    Besides, Yari pointed out that the governors have unanimously agreed that borrowing cannot be a reliable solution to the country’s economic problems.

    However the CBN Deputy Governor Economic Policy Dr. Joseph Nnanna, who represented the CBN Governor Mr. Godwin Emefiele, dismissed the governors’ claims at the public presentation of the Spring 2019 edition of Regional Economic Outlook (REO) by International Monetary Fund (IMF) in Abuja.

    He said: “We are making smooth progress towards growth and by end of 2019, all things being equal, we are going to likely have between 2.8% and 3% GDP growth rate.

    “Since the third quarter of 2016, when we started coming out of recession, we have embarked on tight monetary policy in all its ramifications.

    ‘’Right now, we are on the path of achieving our price stability goal of single digit inflation.

    ‘’Are we going to witness increased inflation or are we sliding back into recession? My answer is no. But is that adequate?

    “My answer is no. 3% GDP real growth rate is not enough for Nigeria where our population growth rate is 3.2%.

    “Per capita growth rate is still negative but definitely, we are not going through the era of 2016 when we had a recession. That won’t happen hopefully. Not under CBN watch.”

    The major problem afflicting the labour sector, Nnanna said, is more of underemployment than outright unemployment “because majority of Nigerians are employed one way or another but they are functioning below capacity.

    “They are engaged in the informal sector which is not performing optimally. We also have a huge infrastructure deficit.

    “Infrastructure is the major constrain to economic development and growth. This has to be repaired.”

    He urged the governors and other policy makers to tackle the menace of non-inclusive growth because “it is inclusive growth that we need in Nigeria than any other thing.”

  • Nigeria likely to experience another recession soon – Yari warns

    Nigeria likely to experience another recession soon – Yari warns

    Zamfara State Governor Abdulaziz Yari has warned of an impending recession by the mid-2020.

    Besides, Yari pointed out that the governors have unanimously agreed that borrowing cannot be a reliable solution to the country’s economic problems.

    Yari, who is the Chairman of the Nigeria Governors’ Forum (NGF) spoke yesterday at the opening of a three-day retreat for returning governors and governors-elect in Abuja.

    In his remarks, the NGF chair said that the current economic reality should prepare the mind of the governors ahead of the possibility of another recession by the middle of next year.

    He, however, said the governors’ good spirit and preparedness will enable them to contain the situation.

    Yari urged them to work in unity to boost the economy and to look inward by boosting their revenue generation base.

    Speaking against the backdrop of the country’s dependence on crude oil which price has been fluctuating in recent time, Yari said: “This scenario is a wake-up call for all of you to come amply prepared to face these kinds of challenges especially since we are expecting the possibility of another cycle of recession by mid-2020 and which may last up to the third quarter of 2012.

    “Your good spirit of stewardship will make you contain the situation should there be one. As members of the National Economic Council (NEC) you must work hand in hand to boost the economy in tandem with the global best practices.”

    On the issue of borrowing, Yari said: “It is imperative to note that the NGF, under my chairmanship, and the National Economic Council under the chairmanship of His Excellency, the Vice President, had agreed that borrowing is never a reliable alternative to solving our economic problems.

    “We must work hard among all the tiers of government to multiply our revenue generation base so that together we change the course of doing government business for the betterment of our people.”

    The Zamfara governor also challenged key revenue agencies, including the Nigeria National Petroleum Corporation (NNPC), Federal Inland Revenue Services, the Nigerian Custom Services and other agencies on the need to work more effectively, especially now that the N30, 000 minimum wage bill has been signed into law.

    The United States Ambassador to Nigeria, Ambassador W. Stuart Symington, urged the incoming governors on the need to boost their states economy.

    He also urged them to identify and approach and encourage local investors to shore up their revenue base.

    “As governors, look for people in business in your states”, Symington said, encouraging the governors-elect to invest in the people.

    “How do we invest in human capital development?” he asked. “Invest in people and earn trust. You do that at a speed of trust.”

    On security, the envoy said: “I know security is on everyone’s mind and governance is also in everyone’s mind. Security is not the job of security forces alone. There must be cooperation between the security forces and the civil populace.”

    Also charging the governors-elect, First Bank of Nigeria Chairman, Mrs. Ibikunle Awosika, said they must earn the trust of the electorate.

  • 2019 Budget: Saraki counters Buhari, says recovery from recession fragile

    2019 Budget: Saraki counters Buhari, says recovery from recession fragile

    The President of the Senate, Dr. Bukola Saraki has described Nigeria’s recovery from economic as fragile, stressing that the fundamentals underlying the recovery remain weak, and if unchecked, can lead to dire consequences.

    In a speech he delivered at the budget presentation by President Muhammadu Buhari to the National Assembly on Wednesday, Saraki observed that the economy still runs on oil and very little progress has been made in terms of diversification.

    He added that as a result, the expansionary budget policy in effect since 2016, which was aimed at raising spending and stimulating growth in the economy, was not matched by achievable revenue targets.

    According to him, the corollary is higher and rising deficit as well as a considerable debt burden, all due to an unsustainable fiscal stance.

    Saraki said, “Without doubt, the last three–and–a–half years have been eventful ones at the global level and in our domestic economy. From dips in oil prices to major shifts in the economic landscape, crude oil production shut-ins and security challenges, the economy and Nigerians have been directly impacted by these events.

    “Many businesses closed down and many people lost their jobs during the recent recession. In the same period, we lost innocent citizens to insurgency in parts of the North East, thousands were displaced, and many lives also lost due to clashes between farmers and herders, in addition to the general hardship unleashed by unstable economic winds.

    “These are some of the security challenges we have faced. We must take them head-on; it is a battle we must win as a country. It must be admitted that we are not there presently. For one, these security challenges now pose a threat to the viability of the agricultural sector.

    “This is clear in the marked reduction in agricultural output observable since the first quarter of 2018. There is the need for more efforts by all. We here are prepared to give all necessary support to the Executive. We stand ready and committed to assist in every way we can, in order to ensure food security and the protection of lives and property”.

    He bemoaned the under–performance of independent revenues, saying it is straining government’s ability to meet its expenditure, especially investments in critical infrastructure.

    This, he said, further exposes government to higher deficit levels which have been largely financed by borrowing, stressing that there was urgent need to address the lapses.

    “To be clear, two scenarios will play out if we do not deal decisively with challenges to revenue. These would be to accommodate higher debt with higher repayment costs, which is not sustainable or to reduce the capital budget, which would mean a slow-down in government investment in critical infrastructure. This, again, does not aid growth or economy development.

    “Mr. President, it is for these reasons that the National Assembly required that the 2018 Budget proposal and future ones be accompanied by a Finance Bill, which would give credence to the financial proposals of government.

    “It is one way of establishing credibility in projected revenues. It is imperative, therefore, that a 2019 Finance Bill is submitted to the National Assembly for consideration and approval.

    “I have always stressed the importance of setting realistic revenue targets, because we cannot afford to rely on borrowing to finance recurrent expenditure. It is critical we shift focus to generating as much money as required for spending, at least for recurrent needs, so loans can be used solely to fund capital projects”, Saraki added.

    The President of the Senate also deplored what he described as the huge cost deductions by the Nigerian National Petroleum Corporation (NNPC), saying the situation must be addressed without further delay.

    He stated that net oil inflow into the Federation Account is significantly lower than projected on account of these deductions by way of unappropriated petroleum subsidy.

    Saraki advised that petroleum subsidy should be captured as a line item in the Budget if the government must continue to finance it, stressing that the government cannot shy away from the issue.

    Continuing, he said, “The current system is opaque at best, fraught with inefficiencies and is a sure pathway to corruption. Estimated deductions for petroleum subsidy claims by NNPC year-to-date can neither be explained by the higher PMS landing cost nor the increased supply of petroleum to the domestic market.

    “We can better manage these by returning to a more transparent practice of capturing the items as against the erroneous and illegal approach of cost recovery for payment for importation of petroleum products”.

    Saraki said the government cannot get things right if it cannot match budget credibility with predictability, adding that it’s in this regard that the National Assembly passed several constitution alteration bills, including Sections 82 and 122 of the Constitution of the Federal Republic of Nigeria.

    “The amendments to these sections are intended to engender timeliness in the formulation and approval of annual budgets as well as restore the country to a January to December fiscal year.

    “May I use this opportunity to request Mr. President to prioritize the assent of this important Bill. That way, delays in the submission and passage of the Budget will be a thing of the past.

    “Also, the private sector, including local and foreign investors doing business in Nigeria, can plan their investment activities along predictable timelines.

    “Mr. President will recall that in response to the economic recession, the National Assembly enacted a batch of laws to assist the Executive mobilize investment across the country, in order to stimulate economic activities.

    “These bills are the product of far reaching engagements with the Executive. It is instructive to note that two of these– the Secure Transactions in Movable Assets Bill and the Credit Reporting Bill – are credited with helping to improve our country’s position in the World Bank Ease of Doing Business Ranking.

    “Let me make clear that the National Assembly appreciates Your Excellency’s assent of some of these bills. This is tempered by the fact that some in this stack of priority bills, such as the Petroleum Industry Governance Bill, National Transport Commission Bill and Federal Road Authority Bill, to mention a few, have not been signed into law, contrary to the expectations of many.

    “We recognize the prerogative of the President to sign or not to sign these bills. However, we believe that some of the issues cited for withholding of assent may be better addressed through further technical engagements, since the bills are, in the main, aligned to government policy direction.

    “Certainly, we as the legislature are of the view that, unless we strengthen our laws to create the right structures that enable the private sector power the economy, we will not be able to create enough jobs and opportunity for our people to thrive and prosper.

    “Through collaborative efforts and engagements with all stakeholders, we have passed bills designed to help government create jobs, open the entire market to private sector investment and modernise the economy”.

    Commending the President on the Social Investment Programme initiative of the administration, Saraki however noted that the current approach is unlikely to have a sustainable, measurable impact that is free of corruption and abuse.

    He said, “You will agree with me that such a programme should carry no whiff of politicization. Our role as leaders must always be to ensure that we deliver governance results that do not discriminate; and which ensure that all Nigerians irrespective of ethnicity, religion and political stripe have access and are seen to be treated equally.

    “The National Assembly is willing and ready to work with Your Excellency on the people-oriented programmes of your Administration, to ensure success.

    “At this juncture, let me assure Mr. President that the National Assembly shall continue to work with your team to ensure that whatever is required through legislation and oversight to plug revenue leakages and ramp up revenues is given priority”

    Saraki commended the President and the Economic Management Team for putting together the fiscal policy document, which he said, is expected to give life to economic and social programmes that are pivotal to national development as the nation goes into a crucial year”.

     

  • Nigeria’ll soon be delivered from oppression, recession – Oyedepo

    The President and founder of the Living Faith Church Worldwide, popularly known as Winners Chapel, Bishop David Oyedepo, has said Nigeria and the whole of Africa shall be delivered from the grip of economic hardship and oppression.

    Oyedepo made this declaration on Tuesday while delivering his message at the Faith Tabernacle during the opening session of the 20th Shiloh, an annual programme of the church.

    Speaking on the topic, ‘Heralding the Dominion Era of the Church,’ Oyedepo said God would give authority to the church to stop bad politicians and bad policies.

    He said, “Africa shall be delivered; Nigeria shall be delivered! Every occult power that holds sway on the continent of Africa shall be messed up this year!

    “Authority shall be domiciled in the church in the last days and if anybody is angry, it does not matter. Let all political gladiators hear this, if the church says no, you are going nowhere.

    “The time comes when the church says, you die and you die; run mad and you will run mad.”

    According to him, the church will begin to teach people in every sector the best way to do things to get the desired results.

    He said the Covenant University which was established by the church had left behind many public varsities that were established many years before it came on board. He said that was how it would be in many areas because God had decided to give the church the wisdom to excel.

    Oyedepo said despite the lingering problem in the power sector, Cannaland, the international headquarters of the LFC, had never suffered outage since 1999.

     

  • How forex ban on rice, other items lifted Nigeria out of recession – Emefiele

    The Central Bank of Nigeria on Wednesday said that its decision to restrict foreign exchange for importation of 41 items and other complementary policies were effective in bringing the country’s economy out of recession.
     
    It said the policy was well thought out as it assisted greatly in boosting the country’s foreign exchange reserves, which currently stand at about $42.46bn.
     
    The CBN Governor, Mr Godwin Emefiele, said these at the opening session of a workshop on monetary policy implementation amidst global economic protectionism.
     
    The CBN had on June 23, 2015, placed a restriction on accessing forex in the official forex market for the importation of some goods and services.
     
    The aim, it said then, was to encourage local production of the items, conserve the foreign reserves, resuscitate domestic industries and boost employment creation.
     
    Some of the items barred from accessing forex at the official market were rice, cement, poultry, tinned fish, furniture, toothpicks, kitchen utensils, table wares, textiles, clothes, tomato pastes, soap and cosmetics.
     
    Also affected were private jets, roofing sheets, metal boxes, wire rods, steel nails, security and razor nails, ceramic tiles, glassware, cellophane, plastic and rubber products
     
    Speaking at the workshop on Wednesday, Emefiele said the restriction was a policy that was carefully crafted with a view to reversing the multiple challenges of dwindling foreign reserves, contracting Gross Domestic Product and an embarrassing rise in the level of unemployment confronting the country.
     
    For instance, he said the real GDP grew by 1.40 per cent in the third quarter of 2017, up from 0.72 per cent, and contraction of 0.91 per cent in the second and first quarters of 2017, respectively.
     
    Represented at the event by the Director, Monetary Policy Department, CBN, Mr Moses Tule, the governor explained that there had been improvement in the country’s reserves following the implementation of the policy.
     
    He said, “In today’s world, countries have used trade protection repeatedly as a policy to resolve negative perceptions and shocks in their respective countries.
     
    “In other words, should Nigeria, with insatiable taste for foreign goods to the detriment of the domestic economic realities, throw its borders open to indiscriminate importation of goods and services?
     
    “This was the prevailing condition in Nigeria before the introduction of restriction of official foreign exchange for the importation of 41 items.
     
    “The implementation of the (restriction of forex for the importation) 41 items, in addition to the other complementary macroeconomic policies, no doubt, was effective in lifting the Nigerian economy out of recession.”
     
    He added that the apex bank would continue to come up with monetary policy initiatives that would assist in improving the lives of Nigerians.

  • Nigeria out of economic recession, now at recovery stage – NBS clarifies

    Nigeria out of economic recession, now at recovery stage – NBS clarifies

    The National Bureau of Statistics (NBS) on Monday restated that the country was out of recession.

    The Head of Public Affairs and International Relations Unit, Mr Sunday Ichedi, said this in a statement in Abuja.

    Ichedi was reacting to a recent interview the Statistician-General of the Federation Chief Executive Officer of the NBS, Dr Yemi Kale granted explaining why the country was yet to recover from the economic recession it slipped into in 2016.

    “We want to emphasise and state categorically that the economy is out of recession and at no time did the NBS or its CEO state otherwise as has been reported.

    “Recall that it was the same bureau that announced the end of recession in the second quarter of 2017.

    “This followed the announcement of the first positive growth in the nation’s Gross Domestic product (GDP) due to five quarters of contraction.

    “Economic growth as measured by GDP has remained positive ever since (0.72 per cent, 1.17 per cent and 2.11 per cent in the second third and fourth quarter 2017 and 1.95 per cent in the first quarter of 2018).

    “The NBS has stated several times that the stages after an economic recession is an economic recovery where the economy moves gradually following the end of a recession toward sustainable strong growth.

    “This is the stage of recovery that we are now and was alluded to by the statistician-general during his interview.

    “That the economy is in the second stage of recovery, heading toward sustainable growth, which is the last stage cannot and should not be wrongly interpreted as the economy is still in a recession,’’ Ichedi said.

     

  • How oil exports, controlled imports aided Nigeria’s exit from recession – NBS

    The National Bureau of Statistics (NBS) on Monday said Nigeria’s recovery from economic recession slowly began in the second quarter of 2017 (Q2 2017) mainly because of oil exports and controlled imports.

    The bureau disclosed this in a report published on its website titled, Nigerian Gross Domestic Product Report (Expenditure and Income Approach) 2017.

    Recall that Nigeria slipped into economic recession in 2016 but returned to positive growth in the second quarter of 2017.

    According to the report, “the economic recovery was mainly driven by improved net exports (trade balance), with all other components of real GDP by expenditure remaining negative (except Non-profit Institutions Serving Households (NPISH) consumption, albeit better than 2016.

    “This suggests recovery from recession was largely driven by recovery in Nigeria’s main exports which is oil, combined with control in imports, which improved net exports (the only component that grew positively) significantly,” the report stated.

    Though there was improvement in the state of the economy in 2017 compared to 2016, the report disclosed that improvements in domestic consumption and business environment are still necessary to further stimulate growth.

    The report also showed that real GDP growth turned positive and sustained its acceleration annually from the second quarter of 2017.

    Annual real GDP growth rate stood at 0.82 per cent in 2017 signifying economic recovery when compared to –1.58 per cent in 2016.

    “Real Household Consumption and Government Consumption Expenditures generally declined in 2017 at –0.99 per cent but improved compared to 2016 at -5.71per cent. Domestic demand was still weak.

    “Net Exports grew significantly in real terms in 2017, which was mainly driven by the strong performance in the third quarter. However, this was slower than 2016 at 22 per cent.

    “National Disposable Income declined by 1.52 per cent in 2017, majorly due to the continuous decline in the largest component— Operating Surplus which recorded a negative annual growth rate, of –2.11 per cent. Compensation of Employees performed strongly in 2017, at 11.14 per cent annual growth rate,” the NBS added.

    The Gross Domestic Product (GDP) can be derived as the value of all goods and services available for final uses and export. GDP at market prices includes net taxes on products; taxes are subtracted to obtain basic price GDP.

  • Recession: CBN resisted pressure to float the Naira

    Mr Isaac Okoroafor, the acting Director, Corporate Communications, Central Bank of Nigeria (CBN) says the apex bank resisted suggestions to float the Naira when the country was battling with economic recession.

    Okoroafor spoke at the Capital Chapter Congress/Dinner of the Nigerian Institute of Public Relations (NIPR), FCT chapter, on Wednesday in Abuja.

    Delivering a lecture titled, “Managing Public Confidence in a Period of Economic Challenge -The Role of Public Relations’’, the CBN spokesman said the bank was vindicated afterwards for rejecting the suggestion.

    A floating exchange rate is a regime where the currency price is set by the forex market based on supply and demand compared with other currencies.

    This is in contrast to a fixed exchange rate, in which the government entirely or predominantly determines the rate.

    “Several people both local and international made the suggestions that we float the Naira but we said no.

    “We resisted the option because we felt it was a wrong option and dangerous to the economy and we are very happy we proved them wrong.

    “We believe we succeeded and what are doing now in to consolidate on the successes and address our failures,’’ he said.

    He said that crisis was unavoidable; hence the need for public relations practitioners to be proactive.

    Okoroafor advised the practitioners to be truthful and engage stakeholders continuously.

    “You do not have to wait until there is a crisis before you begin to engage; during periods of normalcy, you need to engage people; make sure you supply people with information prior to the crisis because the crisis will come one day.

    “ Once you engage people steadily, and crisis comes, they will be on your side because they already know the crisis will come.

    “If you create a level of confidence with your stakeholders, especially the media, they will readily defend you when there is crisis.’’

    Okoroafor said there was need for Nigeria to begin to add value to the goods it exported in order to strengthen the Naira.

    He said that if Nigeria remained a nation of consumers – taking from other countries and hampering local production, the Naira would continue to be weak.

    On his part, Dr Tayo Hastrup, Chairman, NIPR, FCT chapter, said that the decision to engage Okoroafor for the lecture was informed by his wealth of experience in public relations.

    He said that the CBN spokesman and his team creditably acquitted themselves in public relations when Nigeria was in recession.

    According to him, Nigerian economy is very important to us, we just came from recession and the CBN is very strategic agency in this country.

    “We decided at executive level to get somebody from the CBN, who is our member, Okoroafor.

    “We have the belief that as a public relations person heading the corporate communications department of CBN, he will be versatile enough to talk on the issue in question.

    “The nation faced some serious challenges but the strategy adopted by CBN public relations was able to douse tension and professionally handled the crisis,’’ he said.

    Hastrup said that he believed that the lecture would boost the professional capacity of public relations practitioners in handling challenges.

     

  • Nigeria came out of recession within two quarters- Lai Mohammed

    Nigeria came out of recession within two quarters- Lai Mohammed

    Alhaji Lai Mohammed, the Minister of Information and Culture, is in the U.S at the moment. The Minister has been speaking on the achievements of President Muhammadu Buhari’s administration.

     

    President Buhari is due in the US at the weekend for a meeting with President Donald Trump on 30 April in Washington D.C

     

    Mohammed, since his arrival, has been actively engaged with the media and some think-tanks.

    He said the Buhari’s administration has a lot of success stories, which needed to be told.

     

    The minister was first in Washington, D.C. and later in New York, where he explained that Buhari’s administration has done very well and recorded so many achievements in less than three years.

     

    “I’ve been to VOA – Voice of America, Washington Post, Washington Times; I’ve been to Al Jazeera. I’ve met a couple of think-tanks, the Atlantic Council and also the Foreign Relations Council.

     

    “In New York here, today, I’ve met with Reuters. I’ve met with Wall Street Journal. Today, I’m meeting with CNN and also the New York Times and probably the AP.

     

    “The whole idea is to give the government’s perspectives and narratives on the development and progress the government has made,” Mohammed told the Correspondent of the News Agency of Nigeria (NAN).

     

     

     

    Mohammed said he was able to explain that the administration has done very well in pushing back insurgency especially given what the situation was as at May 2015.

     

    He said at that time, about 20 out of 37 Local Governments in Borno alone was under the effective occupation of Boko Haram and about two in Yobe, and about four in Adamawa.

     

    “Today not one single inch of land is occupied by Boko Haram,” he said.

     

    Mohammed said he drew attention to the fact that before 2015, Abuja, the Federal Capital Territory, was not safe as the Boko Haram breached security more than five times.

     

    “But between 2015 and today, every one lives with his two eyes closed in Abuja. So we discussed extensively the achievements of this administration in the area of fighting insecurity.”

     

    “Generally I was able to give a good account of what we’ve done in the economy,” he said adding, “the figures are there to see what we’ve done”.

     

    The minister said: “We were in recession, within two quarters we came out of recession, largely because of the Economic and Recovery Growth Plan of the government.

     

    “And today, we’ve been able to double our foreign exchange from about 23.6 billion dollars in 2015 to about 47 billion dollars.

     

    “We’ve in one year been able to climb 24 steps in the ladder of World Bank ranking of Ease of Doing Business.

     

    “Our (Nigerian) Stock Exchange has been rated as one of the six best performing in the world and return on investment was as high as 43 per cent.

     

    “And in the area of the economy again, we’ve been able to push down inflation for 11 consecutive months from 18 per cent to now about 13.5 per cent”.

     

     

    In the area of diversification, Mohammed said the Anchor-Borrower Programme was a big success adding, it has added additional almost six million rice farmers and cut down on importation of rice from 644,000 metric tonnes 24 metric tonnes.

     

    “We’ve increased the number of Integrated Rice Processing Mills from 13 to 21 and 10 new ones were just approved on Wednesday by the Federal Executive Council and our diversification programme is working very well.

     

    “The latest figure showed that apart from agriculture, mines, metal ore, electricity, gas, creative industry, are all reading positively.

     

    “We discussed also the issue of corruption and how this government is fighting corruption and how it is important for us to remain focus”.

     

    On the protracted attacks in parts of the country, Mohammed blamed those opposed to the re-election of Buhari.

     

    “Most of the attacks we receive today are from people who have morbid fear of the President coming back in 2019,” he said.

    Mohammed, while in New York, also visited the Nigeria House where he briefed senior officials of the Consulate and was received by Nigeria’s Consul-General, Tanko Suleiman and other officials of the Consulate.

    We’ll sustain Nigeria’s economic growth – Emefiele, Adeosun