Jim Ovia, founder of Zenith Bank, says his company constructed some of the roads to its branches.Ovia, who made this known while speaking with Zain Asher on CNN's Marketplace Africa, said poor infrastructure was one of the biggest challenges the bank faced when it started."Issues like inadequacies of infrastructural availability were solved when we began building our own roads to [...]
Tag "Recession"
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It has been almost three weeks since Nigeria, Africa's largest economy, was said to have found its way out of the nation's worst economic recession in 29 years. And as I predicted the day we exited recession, a number of political sycophancy has followed the exit from recession.Literacy is important, but education is much more important than literacy. It is heart-breaking for me to [...]
Chidi Odinkalu, human rights activist, says Nigerians deserve a better treatment from President Muhammadu Buhari.Speaking on Channels Television on Sunday night, Odinkalu said Buhari has spoken to Nigerians only once since assuming office.He said Nigerians have gotten used to a situation where the government always "confections statements" rather than addressing the citizens on the issues affecting them."We did not elect [...]
The Nigeria Governor's Forum (NGF) secretariat says the public expenditure reform being implemented by state governments helped the country's economy get out of recession.A statement on Sunday, Abulrazque Barkindo, head, media and public affairs of the NGFS, said the disclosure was made when David Nabena, an economist, made a presentation at a meeting of the fiscal sustainability plan committee which [...]
Femi Adesina, special adviser on media and publicity to President Muhammadu Buhari, has raised concerns over the “hate and diabolic thoughts” some Nigerians are filled with.Writing on his Facebook page on Saturday, Adesina wondered why these Nigerians are always "in the gall of bitterness and bondage of iniquity," never expecting anything good to happen to the country.He said what such [...]
Lai Mohammed, minister of information, says trivialising the significance of the country's exit from the worst recession in 29 years is bad politics.Mohammed spoke on Friday when he received broadcast media editors in his office in Abuja.He assured Nigerians that their standard of living would improve with the exit of the country from recession.The minister urged well-meaning Nigerians not to listen [...]
Yemi Kale, chief executive officer (CEO) of the National Bureau of Statistics (NBS), says the effect of Nigeria coming out of recession will not be immediately felt by the people.Kale made the statement at a news conference in Abuja on Wednesday.“There is a different stage Nigeria must go through before the masses will feel the effects of going out of [...]
Adeyemi Dipeolu, special adviser to the president on economic matters, says despite the exit from recession, the nation's economic growth "remains fragile and vulnerable to policy slippages".The economy exited from its worst recession in 29 years on Tuesday.Dipeolu attributed the exit to growth in the nation's oil and non-oil sector, saying the growth in the oil sector rose by 1.64% as compared [...]
Femi Adesina, presidential spokesman, says Nigeria’s exit from recession is a testimony that President Muhammadu Buhari’s administration is working for the progress and prosperity of citizens.On Tuesday, the National Bureau of Statistics (NBS) announced that the country had come out of recession – the worst in 29 years.According to a statement issued by Abiodun Oladunjoye, state house deputy director of [...]
BY OLA SUNDAY The socio-political situation in Nigeria has called for an overview to offer an insight into the true state of the nation. Regardless of what politicians and public office holders are peddling in the media about the economy, the fact remains that it is the citizenry who are better positioned to evaluate governance based on their own economic realities. [...]
Emmanuel Ibe Kachikwu, minister of state for petroleum resources, says it is better for Nigeria to stop crude oil production than to produce it at a high cost.The minister said this while speaking at the Nigeria annual international conference and exhibition organised by the Society of Petroleum Engineers in Lagos on Monday.He said unlike other countries that have managed to [...]
BY JAPHETH OMOJUWA If the rest of Africa expect Nigeria and South Africa to chart a pathway and provide some sort of economic leadership, they would have to look elsewhere for the time being. Africa’s two biggest economies, with a combined Gross Domestic Product (GDP) of nearly $800 billion are both in recession at the same time, for the first time [...]
Data released by the National Bureau of Statistics (NBS) on Thursday show that inflation dropped to 16.25%, making it 1.25 points away from the 15% goal of the Economic Recovery and Growth Plan (ERGP).According to the NBS report, inflation dropped from 17.24% in April to 16.25% in May.In May, the highest increases were recorded in food, solid and liquid fuels, [...]
Aminu Tambuwal, governor of Sokoto, says the recession in the country has hindered his administration's zeal to do more for the people of the state.Speaking at stakeholders’ meeting of All Progressives Congress (APC) Party in the state on Sunday, Tambuwal said the "unfortunate situation" has slowed his administration down.He said in spite of the difficult economic situation, the government is [...]
Femi Adesina, special adviser on media and publicity to President Muhammadu Buhari, says Nigerians should be grateful that the current administration is pulling the country out of economic recession after "just one year".In an interview with The Sun, Adesina said while Japan has been in recession for 15 years, Venezuela is yet to recover from its economic crisis."The CBN has [...]
Moses Tule, director of monetary policy at the Central Bank of Nigeria (CBN), says about N4 trillion from 2016 budget is yet to be implemented and will be implemented within now and July.Speaking in an interview with Arise TV, Tule said about N12 trillion to N13 trillion will be spent by government in 2017, and this will by all means [...]
