Nigeria’s GDP grows by 1.40 percent – NBS report

Nigeria’s GDP grows by 1.40 percent – NBS report

The National Bureau of Statistics (NBS) says the nation’s Gross Domestic Product (GDP) grew by 1.40 percent year-on-year in real terms in the 3rd quarter. The NBS stated this in a GDP Report for Third Quarter 2017 released in Abuja on Monday. Highlights: The figure showed the second consecutive positive growth since the emergence of... Read More

Gross Domestic Product (GDP), National Bureau of Statistics (NBS), recession

September 29, 2017

The YNaija Tracklist: I will reveal why I lost in 2015 at the appropriate time – Jonathan | You are living up to your status as APC’s attack dog | Fayose tells EFCC | More stories

From the papers this morning – a tracklist. I will reveal why I lost in 2015 at the appropriate time – Jonathan – YNaija Despite exit from recession, Nigeria’s economy still vulnerable – FG – YNaija Those who consume fake news should be punished alongside those who disseminate it – Femi Adesina – YNaija You... Read More

Featured

Ayodele Fayose, EFCC, Goodluck Jonathan, PDP, Presidency, recession

September 29, 2017

Despite exit from recession, Nigeria’s economy still vulnerable – FG

The Federal Government has said Nigeria’s economy is still vulnerable to shock, despite recently coming out of recession. Minister of Budget and National Planning, Udo Udoma, said this while addressing a meeting of the National Economic Council presided over by Vice-President Yemi Osinbajo at the Presidential Villa, Abuja, on Thursday. What he said: In a... Read More

economy, recession, shocks, Udo Udoma, vulnarable

September 20, 2017

What really led Nigeria into recession – Former minister

A former Minister of Finance and one-time High Commissioner to the United Kingdom, Alhaji Abubakar Alhaji, in Sokoto on Tuesday while hosting Senator Shehu Sani (Kaduna Central) has identified high overheads in governance and other expenses associated with Nigeria’s federal system as the reason why Nigeria fell into recession. Highlights: Alhaji also said the creation... Read More

Alhaji Abubakar Alhaji, corruption, recession, Senator Shehu Sani

September 13, 2017

Gbenga Odunsi: FCT civil servants reject NBS report on recession

By Gbenga Odunsi For days, Gbenga Odunsi, a journalist, toured five of the federal ministries in Abuja, spending time with civil servants over the NBS report that Nigeria is officially out of recession. His findings show that majority of the civil servants do not believe the report- Nigerians wants to feel the NBS statistics... Read More

Citizenship

citizenship, economy, nigeria, recession, report, standard of living

September 11, 2017

Fisayo Soyombo: 2019 elections in September 2017 — Nigeria now in political recession

by ‘Fisayo Soyombo A blind man who only listens to radio must be thinking this is September 2018 rather than September 2017. It is still two long years before the 2019 presidential election but the distraction of that election was so palpable last week. Aisha Alhassan, Minister for Women Affairs, sparked off the latest... Read More

2019 Elections, Aisha Alhassan, Atiku, Buhari, nigeria, opinion, Osinbajo, Politics, recession

September 10, 2017

“If you don’t leave office, office will leave you.” “…just like you know I will support only Atiku.” | Read our top 10 quotes from last week

Nigeria is out of recession, 2019 is closer than we think and Nnamdi Kanu… well, is still Nnamdi Kanu. But here’s how we know all that: because they said it! “Who?” Find out below: “On this 2019 for me, the only thing that can probably prevent Mr. President from contesting is ill -health because if... Read More

Thinking Through

Buhari, Nicki Minaj and Skales, Osinbajo, recession, to 10 quotes

September 10, 2017

We should not celebrate Nigeria’s exit from recession yet – Okonkwo

The Managing Director/Chief Executive Officer of Fidelity Bank Plc, Nnamdi Okonkwo has asked Nigerians not to celebrate the exit of the recession announced by the National Bureau of Statistics (NBS), as execution of economic policies is what matters now. In an interview with Punch, Mr Okonkwo also commended the Central Bank of Nigeria (CBN) for... Read More

central bank of Nigeria, Fidelity Bank, foreign exchange, Nnamdi Okonkwo, recession

September 8, 2017

Stop attempting to politicise Nigeria’s exit from recession – Lai Mohammed

Minister of Information and Culture, Lai Mohammed has said the standards of living of Nigerians will improve as the country exited recession. Mohammed said this on Friday in Abuja when he received Broadcast Media Editors in his office. The minister explained that “an economy that is just coming out of recession is like a man... Read More

exit, impact, lai mohammed, nigeria, politicise, recession

September 8, 2017

PDP caused horrendous damage to Nigeria’s economy – Segun Oni

The National Deputy Chairman, All Progressives Congress (APC), Segun Oni, says the People’s Democratic Party-led administration of ex-President Goodluck Jonathan caused more damage to the Nigerian economy. He told newsmen on Thursday at the Makurdi airport that the damage was “worst than one can imagine”, Vanguard reports. Oni, a former Ekiti State governor on the... Read More

APC, party politics, PDP, recession, Segun oni

September 8, 2017

Nigeria needs a robust production-based solution to exit recession – SEWUN

As reported by Vanguard, steel and engineering workers have raised the alarm over the closure of 272 factories and sack of 3,000 since 2016, noting that any economy not producing goods and services cannot come out of recession. The National President of Steel and Engineering Workers’ Union of Nigeria, (SEWUN), Elijah Adigun said these at... Read More

Elijah Adigun, National President of Steel and Engineering Workers’ Union of Nigeria, recession, SEWUN

September 7, 2017

The Big 5: Osinbajo visits Benue flood victims; Nigerian killed in South Africa; and other top stories

Good evening. Here are the top 5 stories that drove conversation today: Vice President Prof. Yemi Osinbajo visited the flood victims in Benue on Thursday, with a message from President Muhammadu Buhari. “I bring greetings from Mr. President who’s concerned about Benue floods & wants a permanent solution to the problem,” the VP’s spokesperson Laolu Akande quoted him... Read More

Featured, The News Blog

Benue flood, big 5, Daily 5, Hurricane Irma, recession, Yemi Osinbajo

September 7, 2017

Ministers attribute end of recession to govt’s hard work

The Minister of Information, Lai Mohammed Wednesday, stated that Nigeria’s exit from recession is due to a conscientious effort. Mr Mohammed said the country had been on the path to recession since mid-2014 due to a combination of factors, including the total dependence on a mono product – oil – and the failure to save... Read More

Economic hardship, lai mohammed, recession, Udo Udoma

“We pray for the price of Gala and Garri to welcome the news also” | TwitterNG reacts to Atiku’s recession comments

Former Vice President of Nigeria joined his colleague, Shehu Sani to support the Nigerian masses declaration that until their standard of living reflects differently, Nigeria is still in a recession. See below: As a Nigerian, investor and employer of labour, the news of Nigeria's official emergence from the recession is most welcome. — Atiku Abubakar... Read More

Atiku, National Bureau of Statistics, recession, The Thread, TwitterNG

Recession: There is still more work to be done – APC

The All Progressives Congress (APC) on Wednesday said the exit from recession was the fulfillment of one of the promises of President Muhammadu Buhari. The party however said more has to be done. In a statement signed by the National Publicity Secretary, Mallam Bolaji Abdullahi, the party said the Buhari administration was determined to pull... Read More

APC, exit, President Muhsmmadu Buhari, recession, Work

We are still in recession until Nigerians can eat 3 square meals – Atiku

Former Vice President, Atiku Abubakar has said recession is not over until Nigerians can eat three square meals. He said this while responding to a report by the NBS that the nation has exited recession. In a series of tweets in Wednesday, Atiku said although the news was a good one, inflation was still high.... Read More

3 square meals, atiku abubakar, nigerians, recession

Nigeria’s recovery from recession is weak, feeble – PDP

The Peoples Democratic Party (PDP) has said Nigeria’s exit from recession does not call for any celebration. The Nigeria Bureau of Statistics in its second quarter Gross Domestic Product report had said Nigeria has exited recession. But the PDP said in a statement by its spokesman, Prince Dayo Adeyeye, in Abuja on Wednesday that the... Read More

feeble, nigeria, PDP, recession, recovery, weak

Nigerians won’t feel impact of exiting recession immediately – NBS

Chief Executive Officer, National Bureau of Statistics (NBS), Dr Yemi Kale has said Nigerians may not immediately feel the effect of coming out of recession. Kale, the Statistician-General of the Federation, made the statement in Abuja on Wednesday at a news conference. “There is a different stage Nigeria must go through before the masses will feel... Read More

feel, impact, nigerians, recession

Nigerians must feel the impact of exit from recession – Buhari

President Muhammadu Buhari has said Nigerians will soon feel the impact of coming out of recession. His Senior Special Assistant on Media and Publicity, Malam Garba Shehu, quoted him as saying this on Tuesday in his country home of Daura, Katsina State while receiving the president of Niger, Mahamadou Issoufou. He said the real gain... Read More

exit, nigerians, President Muhammadu Buhari, recession

The Late 5: Goodbye to recession, Trump dumps DACA, and other top stories

Hello, Good evening. Here are the top 5 stories that drove conversation today: Nigeria is officially out of recession, as the nation’s GDP grew by 0.55 percent for Q2 2017, according to the National Bureau of Statistics (NBS). The Nigerian Gross Domestic Product report published by the NBS on Monday showed that the economy recorded... Read More

Featured, The News Blog

Amnesty International, Benue flood, DACA, Daily 5, Military, nigeria, recession, The Big 5, trump

The Thread: This is what the NBS means when it says Nigeria is out of recession

Judging from the responses that came through on Twitter NG, following Dr Yemi Kale’s thread showing the numbers which prove Nigeria is out of recession, more than a few Nigerians are doubting Thomases. Their view is if it cannot be seen in the prices and goods an services and the entire standard of living, we... Read More

APC, Change, economy, Nigerian Bureau of Statistics, recession, Story of the day

What’s the ‘recession cost’ of the ASUU strike?

by Alexander O. Onukwue It is, without a doubt, good to announce repeatedly and be happy for the exit from recession, but let’s not get ahead of ourselves yet; it is really one battle won. There is a danger in becoming complacent that the contractions are over. Like the President has noted in comments posted... Read More

Story of the day

asuu strike, economy, education, nigeria, recession, Story of the day

Agriculture in Nigera - Photo credit: Guardian Nigeria

GDP: what can be done to make Agriculture contribute more?

by Alexander O.Onukwue Agriculture was third in terms of sector contributions to the GDP according to the NBS number published today, September 5. While the services sector, with 53.73%, contributed most to the Real GDP in 2017, industries contributed 23.31% and agriculture 22.97%. One of the major effects of recession was the rapid rise of... Read More

Story of the day

agriculture, economy, GDP, Nigerian Bureau of Statistics, recession, Story of the day

Out of recession, now give us more change

by Alexander O. Onukwue The numbers have shown that Nigeria is no longer in recession, but as many analysts are pointing out, it is by the least possible margin. Some argue that Nigeria, as Africa’s largest economy, should not really celebrate a 0.55% rise in GDP when there are over 180 million persons who will... Read More

Story of the day

APC, Change, economy, Nigerian Bureau of Statistics, recession, Story of the day

Nigeria’s exit from recession shows Buhari is working for the people – Presidency

Special Adviser to the President on Media and Publicity, Femi Adesina had said the country’s exit from recession has shown that President Muhammadu Buhari is working hard. Adesina said this while addressing a solidarity rally organised by the Centre for Civil Society and Justice, according to a statement by the Deputy Director of Information at... Read More

exit, nigeria, President Muhammadu Buhari, recession

The Thread: Nigeria is officially out of recession. Here are the stats to prove it

It has been announced that Nigeria is technically out of recession. But as the reactions to the numbers below show, it doesn’t mean that the prices of goods and services have reduced. Heck, it doesn’t even mean that families are not feeling the pinch economically. It simply means that there is positive growth. This is... Read More

economy, inflation, nigeria, recession, Stndard of living, Yemi Kale

We are delighted Nigeria’s economy is out of recession – Senate

The Senate has expressed delight at the news report that Nigeria’s economy is officially out of recession. In a statement by Chairman of its Committee on Media and Public Affairs, Senator Aliyu Sabi Abdullahi, the senate said the fit was commendable. The statement partly read, “The Senate received Q2 NBS economic report with great excitement.... Read More