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’s economy growth rate may still beat IMF prediction

By AKPANDEM JAMES As emphasis on capital expenditure by the Federal Government begins to yield positive results with investment/GDP ratio increasing, the GDP growth rate of the Nigerian economy is likely to beat the IMF prediction of -1.8% for the full year 2016, the Ministry of Budget and National Planning has indicated. Although the recent…

Nigerian economy officially enters recession

The Nigerian economy has officially entered a recession as the country’s gross domestic product (GDP) shrank by 2.06 percent in the second quarter of 2016, according to a report Wednesday from the Nigerian bureau of statistics. According to aa.com An economy is said to have entered recession if the GDP contracts over two consecutive quarters….

RECESSION: Presidency Says There Is Hope, Laments High Inflation, Unemployment

The Presidency has admitted that the rate of inflation and unemployment in the country remains “stubbornly” high but assures of hope in the face of recession. The Special Adviser to the President on Economic Matters, Dr Adeyemi Dipeolu, admitted this in a statement on the latest National Bureau of Statistics’ report. Dipeolu’s statement was on…

Nigeria Experiences Increase In Employment – NBS

National Bureau of Statistics (NBS) says Nigeria has recorded employment of 106.69 million persons aged between 15 and 64 in the second quarter of 2016, a 0.65 per cent higher than 106.00 million recorded in the first quarter. This was disclosed in a press statement issued by the Bureau and signed the Statistician-General of the…

FG expects better economic outlook for 2016 second half

Reveals highest increase in share of investment in GDP since 2010 The National Bureau of Statistics while confirming a temporary decline in the newly released GDP figures for the 2016 second quarter, has also indicated an hopeful expectation in the country’s economic trajectory. This is contained in a statement signed by Laolu Akande, Senior Special Assistant-Media &…