Tag: Nigerian Economy

Opinion: Twitter ban will have drastic implications on Nigeria’s economy

 By: Odewale Abayomi In retaliation for Twitter deleting President Buhari’s tweet for violating its “abusive behaviour” policy, the federal government suspended Twitter’s operations in Nigeria indefinitely on the premise that the platform is persistently used for activities that are “capable of undermining Nigeria’s corporate existence”. It is worth noting that[Read More…]

NESG projects more Nigerians expected to fall into the poverty trap amid rising unemployment

The Nigerian Economic Summit Group said on Friday that many Nigerians are expected to fall into the poverty trap amid rising unemployment in the country. The NESG, a private sector-led think-tank, noted in its economic report for the first quarter of 2021 that the country’s economic growth in the period[Read More…]

Breaking: Minister says Nigeria’s economy will definitely go into recession

An assessment of the National Bureau of Statistics indicates Nigeria will go into recession according to the Finance Minister, Zainab Ahmed. Premium Times reports that Ms Ahmed spoke while addressing journalists after the National Economic Council meeting on Thursday. “The National Bureau of Statistics (NBS) has made an assessment. So,[Read More…]

Segun Oni Says PDP Gov’t Caused Horrendous Damage to the Nigerian Economy

The National Deputy Chairman, All Progressives Congress (APC), Chief Segun Oni, says the People’s Democratic Party-led administration of ex-President Goodluck Jonathan caused what he called horrendous damage to the Nigerian economy. He told newsmen on Thursday at the Makurdi airport that the damage was “worst than one can imagine”. The[Read More…]

RECESSION: President Buhari Pleased With First Positive Growth

President Muhammadu Buhari is elated that Nigeria is finally out of recession albeit marginally. In a statement released Tuesday afternoon, Buhari noted that the ordinary Nigerian is yet to be directly impacted by the news. He said until coming out of recession translates into meaningful impact, the government will not[Read More…]

Former Governor, Peter Obi Warns of An Imminent Collapse of the Nigerian Economy

A former governor of Anambra State, Peter Obi, has warned that the Nigerian economy will collapse soon if the federal government does not take immediate steps to arrest the rot in the system. He also accused the government of not doing enough to alleviate the sufferings of the people even[Read More…]

Buhari Faces Increasing Opposition As Nigerian Economy Collapses – BLOOMBERG

Yusuf Rabiu went door-to-door urging people in the northern Nigerian city of Kano to vote for President Muhammadu Buhari in last year’s elections. Now he’s regretting his decision. “We expected him to solve our economic problems,” Rabiu, a 36-year-old hat seller, said at the city’s Kurmi market as a group[Read More…]

Nigerian Economy Shrinks By 2.2% In Third Quarter

Nigeria’s economy contracted in the third quarter as businesses struggled to access foreign exchange and rebels continued to bomb oil pipelines in the restive south, official data showed Monday. “The nation’s gross domestic product (GDP) contracted by -2.24% year-on-year,” the country’s National Bureau of Statistics said in a report. The[Read More…]

According To This Report, The Nigerian Economy Amongst Least Competitive Globally

The Nigerian economy is one of the world’s least competitive, and currently ranks 127th out of 138 economies globally, a 2016-2017 report by the World Economic Forum, says. In the 2015-2016 edition of the Global Competitive Index, Nigeria ranked 124th out of 140 countries. The latest ranking means the country[Read More…]

Opinion: Nigeria’s Economy; No Concrete Plan of Action

The Minister of Finance, Mrs. Kemi Adeosun has finally confessed that the Nigerian economy is in recession even though I had argued that the economy was already in recession in my article titled “Nigeria’s economy is finally in recession” and which was published by an online newspaper on 16 March[Read More…]