UNCTAD in a report jointly issued with the UN World Tourism Organisation stated that the estimate was based on losses caused by the pandemic’s direct impact on tourism and the ripple effect on related sectors.
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Fashola, who spoke in Abuja at the NANForum, the flagship interview programme of the News Agency of Nigeria, said the country would not make meaningful progress without taking loans to boost infrastructure.
The country slid into recession last year, after recording negative growth rates in the second and third quarter of 2020.
Olaniyan told the News Agency of Nigeria in Abuja on Tuesday that it was part of the apex bank’s responsibility to print money whenever the need arose.
According to the President of LCCI, Toki Mabogunje during its quarterly press briefing in Lagos, Nigeria’s largest contributors to GDP; agriculture, and distributive trade, have no significant contribution to revenue to support servicing of debt obligations.
This was disclosed by the Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed, during a chat with Africa Department Director of the International Monetary Fund (IMF), Abebe Selassie.
The State Commissioner for Agriculture, Abisola Olusanya who made the call in Lagos, explained that this is in line with the State Government’s five-year strategic agriculture roadmap.
At the launch of the African Development Bank’s 2021 edition of its annual African Economic Outlook, Adesina urged African governments to consider collectively establishing an African financial stabilization mechanism, which would give Africa the fiscal space it needs to deal with debt.
The 90 minutes event, themed: “Challenge Today for an Equal Tomorrow,” will have key industry experts and leading female corporate policy influencers in the Nigerian financial, investment, talent development and management ecosystem as panelists.
According to data from the country’s National Bureau of Statistics, GDP increased by 0.11% in the period October-December, supported primarily by growth in agriculture and telecommunications, which expanded by 3.4% and 17.6% respectively.
According to the latest data released by the National Bureau of Statistics (NBS), telecommunications & Information Services under Information and Communication grew by 17.64 per cent in Q4 2020 from 17.36 per cent in Q3 2020 and 10.26 per cent in Q4 2019.
The statement issued by Laolu Akande, Senior Special Assistant to the President, Media and Publicity, Office of the Vice President, said Nigerians should expect more as the implementation of the ESP gathered momentum.
The minister stated this on Saturday when he featured on a Channels Television programme, “Sunrise Daily,’’ monitored by the News Agency of Nigeria in Abuja.
The NBS said this in the Nigerian Gross Domestic Product (GDP) Report (Q4 and Full Year 2020) released on its website on Thursday in Abuja.
The economy contracted 3.5 per cent in 2020, the worst performance since 1946.
These were parts of industry growth data reeled out by the Executive Vice Chairman of Nigerian Communications Commission, Prof. Umar Danbatta, at a briefing for the new Permanent Secretary of the Federal Ministry of Communications and Digital Economy, Engr. Festus Yusuf Daudu, on the functions and regulatory activities of the Commission in Abuja on Tuesday.
In a statement he signed and made available to the media in Enugu on Sunday, Dr. Uba said the decision by the National Assembly to increase the budget from N13.08 trillion to N13.58 trillion (a 3.9% increase) has once again exposed the weaknesses inherent in the legal framework for fiscal transparency in Nigeria.
In an interview with the News Agency of Nigeria in Abuja on Tuesday, Salifu said government must enact a sustained policy of import substitution to boost local production with a view to creating jobs for the youth.
Uwaleke, of the Nasarawa State University, disclosed this in an interview with the News Agency of Nigeria on Saturday.
The nation has recorded a contraction of 3.62 per cent in the third quarter of 2020.