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.
The Minister of Information and Culture, Alhaji Lai Mohammed, gave the assurance on Monday in Lagos at a New Year media briefing.
Abubakre, a Nigerian born lecturer at Coventry University, observed this while speaking on the urgent need for the Nigerian Government and business stakeholders to address the challenges of the country’s economic recession.
He said this on Monday in Abuja, while declaring open the 26th Nigerian Economic Summit with the theme: “Building Partnerships for Resilience’’.
Obi spoke on Sunday on a Channels Television programme, Politics Today.
Kola Ologbondiyan, PDP’s National Publicity Secretary, in a statement in Abuja on Sunday said this would bring Nigeria’s economy back from recession.
Yes, the COVID-19 pandemic has exacerbated an already bad situation, however, we could have avoided this fate by a disciplined and prudent management of our economy.
The advice was contained in a letter dated November 21, 2020 and signed by SERAP’s Deputy Director, Kolawole Oluwadare, made available to the media on Sunday.
Reacting to the National Bureau of Statistics quarterly report, its Director-General, Dr Muda Yusuf, told newsmen that the news of recession was not surprising.
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.
Buhari, who made this known during the 2021 Budget presentation on Thursday, said his administration remains committed to lifting 100 million Nigerians out of poverty in the next 10 years.
Ayodele, who spoke with newsmen virtually on Friday, insisted only the removal of Service Chiefs will bring insurgency to an end and that Nigeria should start preparing for recession
The World Bank made this known in a statement in Abuja on Thursday as part of its latest Nigeria Development Update.
As the impact of the Coronavirus Disease continues to ravage various economies across the globe, Stanbic IBTC Holdings PLC, a member of Standard Bank Group, has advised that Nigeria and her citizens must take proactive measures needed to avoid the looming recession that is expected to follow the pandemic.