GDP growth Archives - National Wire

Nigeria Must Increase VAT And Excise Taxes, IMF Insists

April 10, 2019 0

Tayo Olanipekun, Washington D.C Nigeria must embark on a comprehensive tax reform to “sustainably increase its non-oil revenue” considered to be among the lowest in ratios to GDP in the world, the International Monetary Fund (IMF) has said. The nation has important development needs “big time” and with its non-oil revenue to GDP at around 3.4 and total tax revenue …

MAN Sets 15% GDP Target For Manufacturing Sector

February 18, 2019 0

The Manufacturers Association of Nigeria (MAN), has outlined its target for the new year during which it hopes to increase the contribution of the manufacturing sector to the country’s Gross Domestic Product (GDP) above the current 8.84 per cent to 15 per cent. Available statistics show the sector contributed 8.84 per cent to the GDP in the third quarter of 2018, according …

Nigeria’s first quarter GDP growth shrinks by -0.52%

May 23, 2017 0

The National Bureau of Statistics on Tuesday released the Gross Domestic Product growth rate report for the first quarter with the economy contracting by -0.52 per cent in the first quarter of this year. With the economy having a negative growth rate of -0.52 per cent, the economy is still in recession. The rate of growth for the first quarter …

Nigeria’s GDP growth rate contracted by -1.3% in fourth quarter of 2016

February 28, 2017 0

The National Bureau of Statistics on Tuesday released the Gross Domestic Product growth rate for the country with the economy recording a contraction of -1.3 per cent in growth rate in the fourth quarter of 2016. The NBS in the report explained that in real terms, the economy recorded a decline of N240.8bn from N18.53trn in the fourth of 2015 …