Poor budgeting practices responsible for recession – Utomi

An economist, Prof. Pat Utomi, has said that poor budget management process is responsible for the current economic recession in Nigeria and not the fall in oil prices. Utomi made the observation in Awka on Wednesday while speaking at the maiden edition of Dr Emmanual Egboga Budget Roundtable, organised by the Nnamdi Azikiwe University Business……

We are moving out of recession gradually – Buhari

President Muhammadu Buhari on Thursday disclosed that the nation’s economy was gradually recovering from the current economic recession. Buhari made the disclosure when he received the outgoing Ambassador of the Royal Embassy of Saudi Arabia, Fahad Bin Abdullah Sefyan at the Presidential Villa, Abuja. In a statement signed by his Special Adviser on Media and……

Recession: Engineer urges colleagues to evolve strategies to prevent job losses

To prevent job losses, the Head, Engineering Services, First Bank of Nigeria Ltd, Mr Michael Adesanya, has advised engineers to evolve innovative solutions to keep organisations afloat as the nation goes through recession. Adesanya gave the advice on Tuesday in Lagos at the Annual Public Lecture of the Apapa branch of the Nigerian Society of……

Fashola reveals how FG plans to remove Nigeria from recession

The Minister of Power, Works and Housing, Mr Babatunde Fashola has revealed that the Federal Government is concentrating on infrastructure development to get the country out of its worse economic recession in 25 years. The minister said the plan, in line with President Muhammadu Buhari’s vision is to develop the nation’s infrastructure which will improve…

House committee optimistic economic recession will end soon

The House of Representatives Committee on Economic Recession has expressed optimism that the country will soon overcome recession. The Chairman of the committee, Dr Bode Ayorinde, stated this in an interview with reporters shortly after the committee met with Vice President Yemi Osinbajo in the Presidential Villa, Abuja on Thursday. Ayorinde said the committee’s meeting……

Nigeria will bounce out of recession completely, says Norwegian envoy

The Norwegian Ambassador to Nigeria, Amb. Jens-Petter Kjemprud, on Thursday said that there were obvious indications that Nigeria would soon bounce out of her economic recession. Kjemprud, who made the prediction at the Nigerian-Norwegian Chamber of Commerce’s First Quarterly Business Roundtable in Lagos, expressed optimism at his assertion. The Ambassador said that it was imperative……

Nigeria has moved out of recession – World Economics

World Economics says Nigeria’s economy has climbed out of recession. World Economics is an organisation dedicated to producing financial analysis, insight and data relating to questions of key importance to the world economy. In a message on its website, the organization believed that things were turning around in Nigeria. It wrote, “March Sales Managers’ Index…

Nigeria’s Economy climbs out of recession

Nigeria’s economy has climbed out of recession, according to world economics. World Economics is an organisation dedicated to producing financial analysis, insight and data relating to questions of key importance to the world economy. Information on its website reads; “March Sales Managers’ Index (SMI) data suggests that the Nigerian economy is starting to grow out…

Somalia ahead of Nigerian on the list of happiest people in Africa – Report

According to a new report released on Monday, Nigerians are Africa’s sixth happiest people despite the recession in the country. The report further called on nations to build social trust and equality to improve the wellbeing of their citizens. Algeria leads the rest of Africa in happiness, followed by Mauritius. Strife-torn Libya is surprisingly ranked……

Emefiele, Adeosun, Udo Udoma, Enelamah brainstorm on rescuing economy

The Central Bank of Nigeria (CBN) governor, Godwin Emefiele, met with Kemi Adeosun, minister of finance; Udo Udoma, minister of budget and national planning, and Okechukwu Enelamah, minister of the trade and investment, met to brainstorm on the best ways to pull the Nigerian economy out of recession. The meeting, which comes less than 48……

Recession: expert calls for effective implementation of ERGP

An economist, Prof. Akpan Hogan-Ekpo, has called on the Federal Government to implement the Economic Recovery and Growth Plan (ERGP) effectively. Hogan-Ekpo, the Director General, West African Institute for Financial and Economic Management (WAIFEM) in Lagos, made the call while delivering a convocation lecture at Bayero University Kano on Friday. The title of the lecture……

World Bank says Nigeria will soon recover from economic recession

The World Bank Group says Nigeria will soon recover from economic recession. Mrs Eme Essien-Lore, Country Manager in Nigeria, International Finance Corporation, a member of the group, made the observation in an interview with the News Agency of Nigeria (NAN) in Lagos on Thursday. ”In our perspective and with the numbers that we have seen……