Recession: APC lashes at PDP over statement, says party lacks credibility

The All Progressives Congress (APC has angrily reacted to a statement credited to the opposition party, the Peoples Democratic Party (PDP) calling for the resignation of President Muhammadu Buhari, stressing that the party lacks the credibility and rectitude to make such demand. In a release signed by APC Secretary Mai Mala Buni, the ruling party assured…

Altering economic policies under Buhari in order

The Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu, has declared that there was nothing wrong in the administration of President Muhammadu Buhari changing any of its economic policies.   He spoke at the backdrop of alleged inconsistency in some of the government economic policies.   Speaking to newsmen, he said that…

Nigeria’s inflation rate hits 17.1% in July – NBS

A report released by the NBS in Abuja on Wednesday stated that the CPI, which measured inflation, was 0.6 per cent points higher from the points recorded in June. The post Nigeria’s inflation rate hits 17.1% in July – NBS appeared first on The Eagle Online – The Nigerian Online Newspaper.

FAAN increases access gate charge by 100 per cent

The Federal Airports Authority of Nigeria (FAAN) has increased the ‘access gate’ charge for vehicles by 100 percent. The increment was endorsed by the management, which has not yet explained reason for the development. In the new rate, buses will be charged N400, Cars/SUVs will be charged N600, and Trucks will be charged N1000. The…

Recession as inflation hits 17.1 per cent

Barely a month after two Federal Government officials announced that the economy was in a “technical” recession, the National Bureau of Statistics (NBS) yesterday confirmed the obvious. In its latest report, the Bureau says the economy has nosedived following rising inflation for nine unbroken years. Below are the highlights of the report. GOING by the…

Aero suspends flight operations over N50bn debt…1,500 workers sent home

It has been revealed that Aero Contractor, which suspended flight operations Wednesday, closed shop due to over N50bn debt. Also, the entire 1,500 workers of the airline have been sent on indefinite leave while the industry unions were informed of the suspension of the flight operations Wednesday. This is as the entire counters of the…

Nigeria’s recession worsens as GDP nosedives to -2.06%…inflation rate peaks at 17.1% in July •FG says economy performing better than IMF’s prediction

Indications that Nigeria’s economy is yet to retract from depressive trend despite policy palliatives emerged yesterday as the second quarter Gross Domestic Product, GDP, growth rate slowed further to -2.06 per cent, down from -0.36 per cent recorded in the preceding quarter. National Bureau of Statistics, NBS, gave the indications in the Nigerian Gross Domestic…

‘Altering economic policies under Buhari in order’

THE Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu, yesterday declared that there was nothing wrong in  President Muhammadu Buhari’s administration changing any of its economic policies. He spoke against the backdrop of allegations of inconsistency in some of the economic policies of the Federal Government. Dipeolu told  The Nation, he said…

Bank Chief: Hard work, Not Only Prayers, Will Revamp Nigerian Economy

The chairman of Standard Chartered Bank Ltd, Oluremi Omotosho, has said for Nigeria’s economy to be revamped, its citizens must go out and work hard instead of depending on only prayers. Omotosho stated recently in Lagos, during the investiture of the president of Rotary Club of Ikeja, District 9110, and the induction of new Board…

Presidency: GDP figures better than IMF estimates

The Presidency on Wednesday said that the just released Gross Domestic Products (GDP) figures for the 2016 second quarter by the National Bureau of Statistics (NBS) despite showing temporary decline is a hopeful expectation in the country’s economic trajectory. The Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu made the remarks while…

Nigeria GDP Dip Further By 2.06% In Second Quarter Of 2016

Report released by National Bureau of statistics (NBS) on Wednesday, showed that the Nation’s Gross Domestic Product (GDP) in real terms declined further by 2.06 per cent in the second quarter of the year 2016 with a negative growth in almost all major sectors of the economy. The report revealed that Gross Domestic Product which declined by…