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Tag Archives: Economic Recession

Why Nigeria fails to achieve economic buoyancy – Dr. Shamsuddeen Usman

The former Minister of National planning, Dr. Shamsuddeen Usman has said that unless there is strong political and legislative support to government’s policies and initiatives, Nigeria’s quest for economic buoyancy, national growth and sustainable development would remain a mirage. Dr. Shamsuddeen made the disclosure in Kano on Thursday while delivering a paper titled “Public Private …

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Nigeria’s economic reform plan not good enough – IMF

The International Monetary Fund, IMF, is not satisfied with the Nigerian government’s economic reform efforts, a new report has shown. Reuters news agency reports that the development could delay talks over $1.4 billion in international loans. According to a 68-page IMF report obtained by Reuters, the Washington-based fund will urge …

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Nigeria Experiences Steady Growth In Non-Oil Sector

National Bureau of Statistics, NBS, has released the third Quarter GDP figures of the Nigerian economy. The report reveals a consistent growth in Agric and Solid Mineral sectors, indicating the success of the Buhari administration’s economic policies even though overall economy is still in recession. This is disclosed in a …

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Economic Recession: Dangote Sacks 36 Expatriates, 12 Nigerians

The current recession has hit one of the biggest employers of labour in the country outside of the government as the Dangote Group, belonging to Africa’s richest man, Aliko Dangote, has fired 48 members of staff. Our correspondents gathered that those sacked were made up of 36 expatriate and 12 …

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Economic Recession: Nigeria will be free by 2018

A Lagos-based financial expert, Mr Bismarck Rewane, on Friday expressed optimism that Nigeria would get out of recession by 2018 with the right economic policies. Rewane, also the Chief Executive Officer, Financial Derivatives Ltd., said this  at the 2016 Independent Shareholders Association of Nigeria (ISAN) Triennial Delegates Conference/Gala Night in …

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China To Inject Additional $70b Into The Nigerian Economy

The Minister of State for Petroleum, Dr Ibe Kachikwu, on Wednesday said Chinese private sector companies had pledged an additional investment of 70 billion dollars to the Nigerian economy. Kachikwu said this while addressing State House correspondents on the outcome of the Federal Executive Council (FEC), presided over by President …

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Economic Recession: National Assembly Ready With 8 Bills for President’s Assent

The report from the office of the Special Adviser (Media and Publicity) to the Senate President says the Senate of the National Assembly has passed eight Bills received from the House of Representatives for concurrence. The Bills, which are aimed at strengthening the laws of the Federal Republic, were considered and …

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Economic Recession: Sale of National Assets is Short-Sighted and Unsustainable – CENGSSUD

The Centre for Global Solutions and Sustainable Development (CENGSSUD), strongly oppose the proposed sales of National asset to fund 2016 budget and sustain the foreign reserve. The call is not only short-sighted, but unsustainable. While we sympathise with the Federal government on the unstable economic situation it has found itself …

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Economic Recession: Arewa Consultative Forum Kicks at the agitation to sell off National Assets

The Arewa Consultative Forum (ACF), on Monday urged the Federal Government to drop the plan to sell-off major national assets to tackle the nation’s economic recession. The ACF said in a statement issued in Kaduna by Muhammad Ibrahim, its National Publicity Secretary, that selling strategic, viable national assets to take …

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Nigeria is determined to be self sufficient in food production, says President Muhammadu Buhari

Nigeria has the people and the resources to surmount her economic problems, President Muhammadu Buhari has assured. Receiving President of the African Development Bank, ADB, Akinwunmi Adesina, at State House, Abuja, on Monday, President Buhari said: “God has given us people and resources. It will take hard work on our …

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