Tag Archives: Recession

The economy of Nigeria has limped out of recession- which was caused by two consecutive quarters of negative growth which Recall that the World Bank and the International Monetary Fund had predicted that Nigeria would exit recession in 2021. Acccording to a report, Nigeria’s economy improved by 0.11 percent in the fourth of 2020. “Nigeria’s gross domestic product (GDP) grew ...

By Nduka Uzuakpundu As Nigeria’s economy eases, with guarded optimism, out of a deep recession, the development has tended to renew investors’ hope in the country. The crawl away from a two-year-long recession, up to 2017, was hit with a nation-wide petrol scarcity for nearly two months up to December, 2017. As some tidiness returns to the economy, hope, among ...

Alcoholic drinks (spirits) producers are locked in a fierce battle for supremacy, amidst rising sales, which have defied the general decline in consumer spending, occasioned by  economic recession. The intense battle of supremacy is reflected in the  products segmentation and repackaging by producers, aimed at extending market reach, in a bid to leverage on market growth. Among other things, the growth experienced in ...

The Governor of the Cengtral Bank of Nigeria, says he inherited a tight Monetary Policy environment when he assumed the position. Emefiele, who in February 2014 replaced Lamido Sanusi was met with a number of criticisms on the state of economy then. He reveals the financial environment during the transition between 2014 and 2015. “We have always used the opportunity ...

The Vice President, Yemi Osinbajo, has urged member countries of the group of eight developing countries, the D-8, to continue to see the fall in commodity prices as an opportunity to diversify their economies. Osinbajo stated this while declaring open the 6th D-8 Ministerial Meeting on Industrial Cooperation taking place from 14-16 November at the Transcorp Hilton, Abuja. He said ...

Former Cross River Governor, Donald Duke, has told the  Federal Government that Nigeria is not yet out of recession. Duke therefore advised the administration to work harder, stressing that the masses were yet to feel the development. Duke who disclosed this at the official launch of the National Competitiveness Report and Sub National Index held in Lagos stated that: “Just ...