Economy Archives - Page 3 of 3

There’s urgent need for comprehensive and coherent economic policies in Nigeria – IMF

March 1, 2018Ayo Olowo

Citing the poor condition of Nigerians, the International Monetary Fund (IMF) has called for urgent comprehensive and coherent economic policies in Nigeria. The gross domestic product report released by the National Bureau of Statistics (NBS) on Tuesday showed that the economy recorded a growth of 0.83 percent in 2017. The Bretton Wood institution said it […]

China’s economic growth rate exceeds target

January 16, 2018News Agency

China’s economy exceeded its annual growth target in 2017, overcoming the government’s battles against massive debt and pollution-spewing factories. AFP reported that the world’s second largest economy expanded 6.8 per cent in 2017, much better than the official target of around 6.5 per cent. According to the poll of 11 financial experts, the growth is […]

World Bank predicts 2.5% economic growth for Nigeria

January 10, 2018January 10, 2018News Agency

The World Bank forecasts that economic growth in Nigeria would edge up to at least 2.5 per cent in 2018, as the country benefits from improved commodity prices, investments and trade. The Bank om its January 2018 Global Economic Prospect report launched on Tuesday in Washington DC noted that Nigeria’s Gross Domestic Product (GDP) is […]

IMF projects 2.1% growth for Nigeria despite vulnerable economy

December 23, 2017Eben Tanimola

The International Monetary Fund (IMF) has projected a 2.1 percent growth for Nigeria. This is after saying the economy of Nigeria is still vulnerable in spite of the country exiting recession. In a statement by Raphael Ranspach, the organisation’s media and press officer, IMF welcomed the federal government’s actions to improve the power sector and […]

Nigeria’s economy to grow faster than South Africa’s in 2017 – IMF

October 10, 2017October 11, 2017Eben Tanimola

Nigeria’s economy will grow faster than that of South Africa in 2017, this is according to the International Monetary Fund (IMF). This is a reverse from the fund’s earlier projection in July that South Africa’s economy will grow by 1% in 2017 while Nigeria will experience a 0.8% economic expansion. Speaking on Tuesday during the […]

We still have work to do, recession ends when all Nigerians can eat three square meals – Atiku

September 6, 2017September 7, 2017Ekene Onyeama

Former Vice-President of Nigeria, Atiku Abubakar says recession cannot be said to have ended until all Nigerians can eat three square meals. He made the claim above in reaction to the news that Nigeria had exited recession. Recall that the National Bureau of Statistics (NBS), on Tuesday announced that the country’s economy grew by 0.55% […]

Buhari promises to get the economy right

September 12, 2016September 12, 2016Ayo Olowo

President Muhammadu Buhari has saluted Nigerians for their steadfastness in spite of the difficult economic times confronting the country. Buhari, in his Eid-el-Kabir message to Nigerians released in Abuja on Sunday, gave the assurance that his administration would get the economy right. According to him, the Federal Government is “working round the clock” to address […]

Buhari seeks emergency powers to boost Nigerian economy

August 22, 2016Ayo Olowo

To tackle Nigeria’s rapidly declining economy, President Muhammadu Buhari will is seeking emergency powers from the National Assembly to push his plans for the economy.President Buhari’s action-plan for the troubled economy, include shoring up the value of the naira, creation of more jobs, boosting of foreign reserves, reviving the manufacturing sector and improving power. Government […]