Nigeria Must Increase VAT And Excise Taxes, IMF Insists

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 […]

GDP Rises To 2.38% In Q4

Nigeria’s Gross Domestic Product GDP growth rate increased to 2.38 per cent (year-on- year) in the fourth quarter of 2018 (Q4, 2018), indicating a 0.55 percentage rise compared to the 1.81 per cent growth recorded in the preceding quarter, according to the National Bureau of Statistics (NBS). This also represented an increase of 0.27 per […]

Report: Dangote Responsible For Over 10% Of Nigeria’s GDP

Aliko Dangote, Africa’s richest man, and his conglomerate, the Dangote Group, have been reported to be responsible for over 10 percent of Nigeria’s gross domestic product (GDP). The report, published by TIME Magazine, says Aliko Dangote is currently worth $14.1 billion, but his company’s investment is responsible for much more than his net worth. According […]

‘Political Will Needed To Reverse Nigeria’s N450bn Loss In GDP’

…As HarvestPlus announces Nutritious Food Fair in Lagos Efforts to address malnutrition in Nigeria require both collective and political will, a coalition of nutrition advocates led by HarvestPlus have said. At a gathering in Lagos to announce the 2018 Nutritious Food Fair, the Country Manager for HarvestPlus, Mr. Paul Ilona, said urgent and coordinated efforts […]

NBS

Nigeria’s GDP Expands By 1.50 Percent In Half Year 2018

The National Bureau of Statistics (NBS) just released Nigeria’s half year 2018 GDP figure, showing that the domestic economy expanded for the fifth consecutive quarter, with real GDP growing by 1.50 percent year on year as against 1.95 percent year on year in the previous quarter and 0.72 percent year on year in second quarter […]

Buhari

Nigeria – Now That The Recession Is Over, What Next? 

Bukola Ogunyemi On Tuesday, the National Bureau of Statistics gave a lot of Nigerians the news they desperately wished to hear – Nigeria is out of recession. After five consecutive quarters of negative GDP growth that started in Q1 2016, Nigeria’s economy grew by 0.55% in Q2 2017. Predictably, data once again became the hero and […]

Telecoms sector contributes N1.5trn to Nigeria’s GDP

About us Contact us Energy Industry  MENU Search for: September 11, 2017 Telecoms sector contributes N1.5trn to Nigeria’s GDP No CommentsShare:     The Nigerian Communications Commission (NCC) says the telecommunications sector contributed N1.54 trillion to the country’s Gross Domestic Product (GDP) in the second quarter of 2017. NCC’s  Executive Vice-Chairman, Prof. Umar Danbatta disclosed this […]

Expert Says Nigeria Will get Out of Recession in 2018

Expert says Nigeria will get out of recession in 2018 A Lagos-based financial expert, Mr. Bismarck Rewane, on Friday expressed optimism that Nigeria would get out of recession by 2018 with the right economic policies. Rewane, also the Chief Executive Officer, Financial Derivatives Ltd., said this at the 2016 Independent Shareholders Association of Nigeria Triennial […]

South Africa overtakes Nigeria as African largest economy

  South African economy has regained the position of Africa’s largest in dollar terms, as the value of the nations’ currencies moved in opposite directions, this is coming barely two years after losing it to Nigeria. According to Bloomberg report, based on GDP at the end of 2015 published by the International Monetary Fund (IMF), […]