Nigeria’s Economy Records 1.4% GDP Growth Rate In Third Quarter

The National Bureau of Statistics on Monday released the Gross Domestic Product growth rate for the country with the economy recording a 1.4 percent increase in growth rate in the third quarter of this year. This is the second consecutive positive growth since the emergence of the economy from recession in the second quarter  2017. […]

Inflation Declines For Consecutive Months To 15.91% – NBS

The National Bureau of Statistics on Wednesday released the Consumer Price Index  which measures inflation with the index dropping year-on-year from 15.98 per cent in September to 15.91 per cent in October. The bureau in the report which was made available said this is the ninth consecutive month since January this year that the index would […]

President’s Aide, Femi Adesina Upbraids Newspaper Over Govt Appointees List

Special Adviser to President Muhammadu Buhari on Media and Publicity,Femi Adesina,has criticized a recent Businesday Newspaper article that claimed 81 per cent of the President’s appointments went in favour of individuals from the northern part of the country. Adesina said in a statement on Saturday that the article, published  on October 29, 2017, “is either […]

Nigeria’s GDP records decline in Q3, Q4 2016

The National Bureau of Statistics (NBS) says the Gross Domestic Product in real terms declined in the third and fourth quarters of 2016. The NBS made this known in its “Nigerian Gross Domestic Product (GDP) Report on Expenditure and Income Approach for the third and fourth quarter of 2016 released in Abuja. According to the […]

Senator Udo Udoma

FG setting up focused labs to drive public, private sector partnership, Udoma tells Senate

The Federal Government is working on modalities for setting up focused labs in some critical areas of the Economic Recovery and Growth Plan (ERGP) to further consolidate the gains of the economic diversification programme. Budget and National Planning Minister, Senator Udoma Udo Udoma while briefing members of the Senate Committee on National Planning on the […]

Nigeria Makes N118.49trn From Oil in 53 Yrs

-Needs N9.1trn to end Poverty  Tayo Olanipekun Nigerian crude oil production in 2012 recorded the monetary value higher than the amount it presently requires to end poverty at national level as revenues were buoyed by high exchange rate and international prices that year, reports have shown. Africa’s largest economy produced 32.70bn barrels of crude oil […]

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 […]

Inflation rate drops but food prices hit highest level in 8 years

Data released by the National Bureau of Statistics (NBS) show that consumer price index (CPI), which mesasures rate of inflation, dropped for the sixth consecutive month — although by a smaller margin. According to the NBS, inflation rate dropped to 16.05% from 16.1% in June, but food index soared to 20.28 percent. “The consumer price […]

NBS: Nigeria Recorded $1.8bn Capital Importation in Q2

• FDI increased by 30% over previous quarter • Emefiele explains limits of monetary policy during recession The total value of capital imported into Nigeria in the second quarter (Q2) of 2017 has been put at $1.792 billion, indicating a $884.1 million increase over the figure recorded in Q1 2017 and a growing appetite by […]