Tag: recession
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Nigeria will exit recession by 2018 if…Yemi Kale
The Statistician General of the Federation and Chief Executive Officer, National Bureau of Statistics (NBS), Dr. Yemi Kale has stated the conditions for Nigeria to exit the current economy recession by 2018. Kale spoke in a chat with Economic Confidential at the weekend in Abuja. “If oil prices do not collapse and Niger Delta remains…
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JUST IN: South Africa slips into recession
South Africa has entered recession for the first time in eight years, data from Statistics South Africa showed on Tuesday. Data from Statistics South Africa in Pretoria showed the first quarter contraction was led by weak manufacturing and trade. The data showed that South Africa’s economy contracted by 0.7 per cent in the first three…
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Nigerians yet to feel improving economy, says Archbishop
The Catholic Archbishop of Lagos, Most Rev. Alfred Martins says Nigerians have yet to feel the effect of the nation’s economy coming out of recession. Martins spoke at a news conference to mark his 58th birthday at the Holy Cross Cathedral, Lagos, on Thursday. The archbishop said that Nigerians continued to face hard times, despite…
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Recession: FG to shut down five foreign missions
In a smart approach to cut the cost of maintaining its 119 missions worldwide, the Federal Government said it had identified five foreign missions it would shut down. The Minister of Foreign Affairs, Mr. Geoffrey Onyeama, said this in Abuja on Thursday while briefing newsmen on the achievements of the current administration in the past…
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Recession: We’ll come out bigger, stronger — Osinbajo
The Acting President, Prof. Yemi Osinbajo, on Thursday assured investors that the country would come out of economic recession stronger and bigger with its Economic Recovery and Growth Plan (ERGP) policy. The acting president gave the assurance at the Presidential Policy Dialogue Session, organised by Lagos Chamber of Commerce and Industry (LCCI) in Lagos. According…
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Failure to diversify economy during oil boom, triggered Nigeria’s recession – CBN
The Central Bank of Nigeria, CBN, has said the country slipped into recession because previous administrations refused to save and diversify the economy during the oil boom days. The apex bank noted that recently there has been a major decline in the prices of oil globally and this has further worsened the economic depression in…
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Nigeria may face bigger problems than recession if…Prof Garba
By Oyibo Ediri Professor Abdul-Ganiyu Garba has said the country may face bigger challenges if the leaders fail to create an environment where peace and justice reign. Garba noted that the recession currently rocking the economy is a sign of grave problems to come. Garba made this statement at “The Platform” organised by Pastor Poju…
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Nigeria gradually getting out of recession – Lai Mohammed
The Minister of Information and Culture, Alhaji Lai Mohammed has said that Nigeria is gradually moving out of recession. Mohammed, represented by the Managing Director of the News Agency of Nigeria (NAN), Mr Bayo Onanuga, made the assertion at the biennial convention of the Nigerian Guild of Editors in Lagos on Saturday. He said that…
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Recession: what other states can learn from Lagos – Reps
As Nigeria gradually makes its way out of economic recession, the House of Representatives on Wednesday commended the Lagos State Government’s role, saying that the success story of the State was not only benefitting residents, but helping to get the nation’s economy back on track. Chairman of the House of Representatives Committee on Economic Recession,…
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We are optimistic Nigeria’s recession will end by third quarter – Emefiele
Governor of the Central Bank of Nigeria, Godwin Emefiele, has said Nigeria will be out of recession by the third quarter of this year. The CBN governor said this after meeting with the leadership of the Senate in Abuja on yesterday. Emefiele said efforts by the Federal Government has shown that the country’s economy will…