Recession: Nigeria must create 40 million jobs – World Bank

The World Bank has said Nigeria must create about 40 million qualitative jobs, between 2010 and 2030 to enable the country recover from the present economic recession. Country Manager, World Bank Group, Mrs. Eme Essien Lore, stated this at the inaugural meeting of Secretaries to State Governments (SSGs) of All Progressive Congress States, held in……

Ministry seeks NASS support to get economy out of recession

The Ministry of Budget and National Planning (MBNP) has solicited the support of the National Assembly on the implementation of the Economic Recovery and Growth Plan (ERGP). The Minister, MBNP, Sen. Udoma Udo Udoma, made the call in a statement issued by his Media Adviser, James Akpandem on Tuesday in Abuja. Udoma was quoted to……

Happy Days Creeping In As Inflation Rate Drops

Happy days are creeping into Nigeria once again as  inflation rate bucked the trend in February to fall to 17.78 percent. It is the lowest level in 15 months and  driven by a slower rise in general price levels, the National Bureau of Statistics said on Tuesday. Inflation had risen to 18.72 percent in January,…

Nigerians React To Hotel Room Which Costs ₦112,200 Per Night

Nigerians on social media are in a state of hysteria after finding out that an hotel room costs ₦112,200 per night. The massive hysteria which has caused many to give their varying opinions, mostly rebuking patronage of such luxury comes as the country has been spelled to have been plagued by recession. With the prices……

President Increases His Salary Despite Economic Recession

Despite the economic recession plaguing the Namibian economy, the Namibian president, Hage Geingob ha last week approved an increment to his salary. The latest bill approved brings the presidential salary to an increase of 6 percent for himself and fellow politicians in the country. The latest bill signed by the president is expected to take……

Nigeria’s GDP has dropped by half under Buhari – Soludo

Former Central Bank of Nigeria governor, Chukwuma Soludo, has again spoken on the current state of the Nigerian economy. In his assessment on Friday, the economics Professor said the Gross Domestic Product, GDP, size had dropped by half in dollar terms in less than two years of the present administration. From about $575 billion in……

President Buhari Inherited Bad Economy, Soludo Says

Professor Charles Soludo, a former Governor of the Central Bank of Nigeria (CBN), has said that the present government inherited a bad economy. “To be fair, this government inherited a bad economy,” Soludo said at an economic talk shop, organised by the Vanguard newspapers. “The previous government had an unprecedented rate of debt accumulation, even…

Recession has reduced Nigeria’s GDP to $354b – Soludo

A former Governor of the Central Bank of Nigeria (CBN), Prof. Charles Soludo said the size of nation’s Gross Domestic Product  has shrunk from about 575 billion dollars to about 354 billion dollars. Soludo said this  at an economic talk shop, organised by the Vanguard newspapers. The talk shop which had other panelists such as……

Udoma says recession will end by Dec 2017

‎Minister of Budget and National Planning, Udoma Udo Udoma, on Wednesday said the government is determined to end recession before year 2017 runs out. He said this during a chat with State House correspondents at the end of the Federal Executive Council (FEC) meeting in Abuja. He said: “Yes we are determined to get the……

Recession will end before the end of 2017

‎Minister of Budget and National Planning, Udoma Udo Udoma, on Wednesday assured that the current economic recession in the country will end in 2017. He said this during a chat with State House correspondents at the end of the Federal Executive Council (FEC) meeting in Abuja. He said: “Yes we are determined to get the…

Recession Hits Nigerians As Internet Subscribers Decline Drastically

As the economic condition of the country come under heavy setbacks, the Nigerian Communications Commission (NCC) has announced the decline in number of internet subscribers in the country. The announcement was made via the commission’s Monthly Internet Subscribers Data for the month of January which revealed that the number of internet users in Nigeria’s telecommunications……