The International Monetary Fund is warning that 2020 could see a severe recession “at least as bad during the global financial crisis or worse” even as recovery would be expected in 2021.
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Rewane made the projection at the 2020 Economic Outlook organised by the Nigerian-British Chamber of Commerce in conjunction with Union Bank and Red Star Express in Lagos, with the theme: “UK/Nigerian Partnership Plans for 2020.”
Bismarck Rewane, Managing Director, Financial Derivatives, has allayed the fear that Nigeria’s economy will fall back into recession, saying the momentum is on growth trajectory.
It is an honour and a privilege to be given the opportunity to deliver this special convocation lecture at a renowned institution that has indeed played a formidable role in my personal development, as well as in the advancement of my career. In this regard, I will like to thank the Chancellor, His Royal Majesty the Oon
The Turkish economy fell into a recession at the end of 2018, the national statistics institute said on Monday, just weeks ahead of local elections.
Finance Minister, Olaf Scholz, said he expected Germany to escape recession, pointing to a subdued but upward trend in its and Europe’s economies.
In its annual detailed investigative report with a table of figures, the Economic Confidential disclosed that among the state recipients, Lagos is ranked first as the highest recipient of gross allocation with a total sum of N201 billion in the 12 months of 2017
The IMF in a statement by Raphael Ranspach, its Media and Press Officer, welcomed the Federal Government’s actions to improve the power sector and business environment under the Economic Recovery and Growth Plan
Onovo, who contested the 2015 presidential elections on the platform of the National Conscience Party, said that Nigeria was in a season of stagnation, rather than being in a recession.
The Minister gave the assurance on Friday in Abuja when he received Broadcast Media Editors in his office
Hon Sokunle, who is the legislator representing Oshodi/Isolo Constituency 1 at the Lagos State House of Assembly, stated that federal government should ensure that economic policies that helped in bringing into extinction recession in the country should be strengthened.
Aremu made the assertion in a statement issued on Wednesday in Kaduna over reports of Nigeria’s economy exiting recession.
Adesina, who is the Special Adviser to the President (Media and Publicity), made the declaration on Tuesday in Abuja while addressing a solidarity rally for the Federal Government organised by the Centre for Civil Society and Justice.
The NBS stated that the nation’s GDP grew by 0.55 per cent (year-on-year) in real terms in the quarter, indicating the emergence of the economy from recession.
In a statement signed by Senator Aliyu Sabi Abdullahi, its spokesperson and Chairman of the Senate Committee on Media and Public Affairs, the Senate emphasized that it was truly commendable that after five consecutive quarters of contraction, the Nigerian economy grew by 0.55% in the second quarter of 2017.
‘I know that the National Assembly also means well. But you may mean well and not do the right thing’
“There are now indications that the Nigerian economy is well on its way out of recession considering the 2016 overall and last quarter Gross Domestic Product reports,” the Presidential Adviser on Economic Matters, Dr. Adeyemi Dipeolu, said in a statement
A review of the recent GDP figures released on Tuesday by the National Bureau of Statistics showed a contraction of -1.30 per cent in the fourth quarter of 2016, translating into an estimated economic growth rate of -1.51 per cent for the full year
This was contained in a statement personally signed by Osinbajo on Tuesday
Jacobs said government needed to take steps to shore up the manufacturing sector by ensuring that the concessionary Forex allocation to the sector was effectively implemented