Tag: recession
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Agriculture pulled Nigeria out of recession – Envoys
African and European diplomats on Wednesday lauded Nigeria’s agriculture sector for its role in pulling the country out of recession. They gave their commendations at the ongoing 4th International Agro-Food Fair, taking place in Lagos. According to Ibi Ikpoki, representing the EU trade delegation, the Nigeria agriculture sector played a huge role in the country’s…
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IMF lauds Nigeria for strong foreign exchange reserves, exiting recession
The International Monetary Fund (IMF) on Wednesday welcomed Nigeria’s exit from economic recession and lauded its strong recovery in foreign exchange reserves. IMF said this in a report released on Wednesday in Washington DC by its Executive Board after the conclusion of Article IV Consultation with Nigeria. According to the report, the Executive Directors of…
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Nigeria’s exit from recession doubtful – Atiku
…harps on the need for restructuring Former Vice President, Atiku Abubakar has said Nigeria’s claim on recession exit was doubtful especially going by the current economic realities in the country. on Friday said it was doubtful whether Nigeria has indeed exited recession. Abubakar made this known in his keynote address while picking the Silverbird’s 2017…
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Recession:CIBN, others harp on empowering non-oil sector
The Chartered Institute of Bankers of Nigeria and some financial analysts on Tuesday said the Federal Government must empower the non-oil sector to prevent sliding into economic recession again. They gave the advice at the Fourth Economic Outlook on Tuesday in Lagos, noting that the economy was still fragile. The News Agency of…
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Lagos generated N503.7bn in 2017 despite recession – Ambode
Governor Akinwunmi Ambode of Lagos State on Thursday said the state generated a total of N503.7billion revenue in 2017 despite the harsh economic climate in the country. Ambode spoke at the state’s first quarter 2018 Town Hall Meeting in Ikeja. The governor said he would vigorously pursue all infrastructure projects and remain focused to the…
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Lagos experienced steady economic growth while Nigeria was in recession – Ambode
…urges Lagosians to brace up for more milestone development in 2018 Governor Akinwunmi Ambode of Lagos State has said the state experienced stable economic growth while the nation slipped into recession last year. The governor attributed this to the prayers offered by the state to God at the beginning of every year since the inception…
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Nigeria’s economy still vulnerable despite recession exit – IMF
The International Monetary Fund (IMF) on Friday said that in spite of Nigeria exiting the recession, the economy of the country was still vulnerable. The IMF in a statement by Raphael Ranspach, its Media and Press Officer, welcomed the Federal Government’s actions to improve the power sector and business environment under the Economic Recovery and…
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How the economic recession affected me- AY declares
Nigerian comedian and entertainment entrepreneur, Ayo Makun better known as AY has revealed how the recession affected his business. The filmmaker made this known in a recent chat with Zain Asher. AY noted that Nollywood is now attracting investments because investors see the profitmaking potential of the industry. “People are now beginning to…
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Again, MPC retains lending rate at 14%, affirms economy will improve after recession exit
The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) on Tuesday retained the benchmark lending rate and other monetary policy rates against a backdrop of macroeconomic stability. The CBN Governor, Mr Godwin Emefiele, said this on Tuesday in Abuja while addressing newsmen on the outcome of the MPC meeting. Emefiele said that…
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We’ll implement policies to ensure Nigeria recovers fast from recession – Emefiele
The Governor of Central Bank of Nigeria, CBN, Godwin Emefiele has said the apex bank will ensure the implementation of policies that will further improve the nation’s economy especially now that it has exited recession. Emefiele revealed at the CBN’s 24th seminar for finance correspondents and editors in Awka, Anambra State on Wednesday. Emefiele noted…