Tag: Economy

Nigeria’s economy has grown by -0.79% in Q2 2021

Nigeria’s Gross Domestic Product (GDP) once again entered negative territory in the second quarter of 2021, growing at -0.79% when compared with the first quarter of the year. According to the National Bureau of Statistics (NBS), GDP grew at 0.5% during the first quarter of the year. Year on year[Read More…]

Opinion: Northern Nigeria’s Economy and Nigeria’s Quest for true Federalism

Once upon a time in pre-oil-dependent Nigeria before the era of military coups, there were three productive regions, namely, Northern Region, Western Region and Eastern Region. These three federating regions maximised their unique comparative advantages for the socio-economic development of their respective regions and for the overall growth and development[Read More…]

COVID-19 Paradox: Food Price Surges, amidst dwindling Income in Nigeria

By Aderemi Ojekunle, Ode Uduu, Charles Mbah and Joshua Olufemi Opeyemi Adeyemi works with one of the big finance companies in Nigeria. He had a pay cut due to the lockdown during the coronavirus pandemic. “To keep your job during this period, a pay cut is a relief, as thousands[Read More…]

After 6 years in power, Buhari moves to reduce poverty in Nigeria – appoints Osinbajo

President Muhammadu Buhari on Tuesday in Abuja commenced the process to reduce poverty in Nigeria. Buhari inaugurated the National Steering Committee (NSC) of the National Poverty Reduction with Growth Strategy (NPRGS) chaired by Vice President Yemi Osinbajo. The Nigerian leader reiterated his commitment to lift 100 million Nigerians out of[Read More…]

Association of Onion Marketers threaten to stop supply to Southern Nigeria

The Onion Producers and Marketers Association of Nigeria has threatened to stop the supply of onions down to the South from June 7, 2021. The group said it would carry out the threat if the government fails to compensate its members who have suffered losses in recent times following attacks[Read More…]

Northern onion sellers suspend shipments to the southeast

Onions sellers in the northern region have withhold selling onions to the south-east until further notice, the BBC reports. The development happened after suspected members of the Indigenous People of Biafra (IPOB) hijacked two onion trucks and sold them to locals for N9,000 per bag instead of N15,000 over the[Read More…]

Kano State Hisbah confiscates 8,400 bottles of beer worth millions

The Kano State Hisbah Board says it has confiscated 8,400 bottles of beer in Dawakin Kudu and Kura Local Government Areas. The Commander­­-General of the board, Dr. Harun Ibn-Sina, disclosed this in a statement issued to newsmen on Tuesday in Kano. According to the statement “the vehicle was coming from[Read More…]

The Economist: Nigeria’s economy is stuck in a rut

Rising oil prices will bring short-term relief, butmay delay essential reforms. TALK THAT everything is expensive fills the air at a market in Lagos, Nigeria’s commercial capital. Since February the minibus fare from home to the market has doubled, says Emmanuel Mokwe, who sells kitchen utensils. So has the price[Read More…]

Like Twitter, automobile giants Hyundia, KIA to establish plants in Ghana

South Korean multinational automotive manufacturers, Hyundai and KIA are set to establish assembly plants in Ghana by the end of 2022. Ghana’s minister for trade and industry, Alan Kyerematen, announced the development via his official Twitter handle on Thursday. According to him, the local assembly of vehicles will create 3,600[Read More…]

Nigeria emerges world’s highest Unemployment nation, Atiku says the Buhari’s government needs help

Nigeria’s former Vice President and Presidential Candidate of the Peoples Democratic Party, PDP, during the 2019 general elections, Atiku Abubakar has reacted to Nigeria’s ranking as World’s Highest in Unemployment ranking. In a series of tweets Sunday, he wrote, “How did Nigeria get here? We got here by abandoning the[Read More…]