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Nigeria’s Economy Grows by 1.81% in Q3 – NBS

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The National Bureau of Statistics (NBS) on Monday released the country’s Gross Domestic Product (GDP) report for the third quarter with the economy recording a growth rate rise to 1.81 per cent.

Gross Domestic Product is the monetary measure of the market value of all the final goods and services produced in a period of time, usually annually or quarterly.

According to details of the Nigerian Gross Domestic Product Report (Q3, 2018 ) released by the bureau on Monday, there is an increase of 0.64 per cent points, compared to the third quarter of 2017, which recorded a growth of 1.17 per cent.

In nominal terms, the report put the value of the country’s economic output during the third quarter at N33.36 trn which it rated high, when compared to the third quarter 2017 GDP output of N29.37 trn.

“This performance is higher when compared to the third quarter of 2017 which recorded a GDP aggregate of N29, 377, 674. 03 million thus, presenting a positive year on year nominal growth rate of 13.58%”.

“This growth rate is higher relative to growth recorded in the third quarter of 2017 by 2.88% points and higher than the proceeding quarter by 0.01% points with growth rates of 10.70% and 13.57% respectively. For clarity, the Nigerian economy has been classified broadly into the oil and non-oil sectors.”

Lukman Otunuga, a research analyst at FXTM, a finance firm, said confidence over the recovery of Nigeria’s economy is set to become a dominant theme following reports of the nation’s economic growth accelerating during the third quarter of 2018.

“Nigeria’s GDP expanded by 1.81 per cent in the third quarter, which represents an encouraging 0.31 per cent rise from the 1.50 per cent achieved in quarter two.

“Although the primary driver behind the economic expansion was rising oil production and elevated oil prices, signs of Non-Oil sectors contributing to growth is a welcome development.

“With the Non-Oil sector growing by 2.32 per cent in real terms during quarter three, Nigeria continues to showcase to the global arena that it remains on a quest to break away from oil reliance.”

He said with economic growth expected to gain momentum next year on the back of increasing government spending ahead of the presidential elections, Nigeria’s outlook remains encouraging.

“OPEC’s deal to cut oil production by 1.2 million barrels a day is seen offering near-term support to oil – a scenario that will most likely support Nigeria’s government revenues and the Naira exchange,” he said.

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Akume Leads Nigeria’s Delegation to Jesse Jackson’s Funeral in US

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President Bola Tinubu has approved a five-person delegation to represent Nigeria at the final burial rites of Rev. Jesse Jackson, the American civil rights leader, activist and former presidential candidate who died at age 84 on February 17, 2026, in Chicago.

Senator George Akume, Secretary to the Government of the Federation, is the leader of the delegation, according to a press statement from the Presidency on Wednesday.

Other members are the Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu; Minister of Arts, Culture and Creative Economy, Hannatu Musawa; the Special Presidential Envoy for Global and Pan-African Affairs, Brian Browne; and the Senior Special Assistant, Foreign Affairs and International Relations, Ambassador Sola Enikanolaye.

The delegation will deliver President Tinubu’s message of condolences to the Jackson family.

In an earlier tribute, President Tinubu described Reverend Jackson as a great friend of Nigeria and Africa.

“He was a moral voice and a formidable resistance to apartheid in South Africa. He played a leading role in the campaign for the release from prison of Nelson Mandela and other African National Congress leaders. He won critical support for sanctions against the then apartheid government,” President Tinubu wrote.

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Tinubu Nominates Oyedele As Minister of State for Finance, Moves Anite-Uzoka to Budget Ministry

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A statement signed by the Special Adviser to the President on Information and Strategy Bayo Onanuga, has announced that “President Bola Tinubu has nominated Taiwo Oyedele as the minister of state for finance, replacing Doris Anite-Uzoka.

“Mrs Anite-Uzoka will now move to the Ministry of Budget and National Planning, as the Minister of State, her third portfolio in the administration.

“President Tinubu has today conveyed the nomination of Mr Oyedele to the Senate for confirmation in a letter to the Senate President, Godswill Akpabio.

“Until President Tinubu nominated him as a minister, Mr Oyedele from Ikaram, Akoko, Ondo State, was the chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, which overhauled Nigeria’s tax system.

“Mr Oyedele, 50, is an economist, accountant and public policy expert.

“He attended Yaba College of Technology, where he obtained a Higher National Diploma (HND) in accountancy and finance. He attended Oxford Brookes University and earned a BSc in applied accounting.

“He also completed executive education programmes at the London School of Economics, Yale University, the Gordon Institute of Business Science, and the Harvard Kennedy School.

“Mr Oyedele spent 22 years of his working career at PwC, joining in 2001 and rising to become the Fiscal Policy Partner and Africa Tax Leader.

“Mr Oyedele is also a professor at Babcock University in Ogun State and a visiting scholar at the Lagos Business School.”

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Defection: Atiku’s Son, Adamu, Resigns As Adamawa Commissioner

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Adamu Abubakar, the first son of former Vice-President Atiku Abubakar, has resigned as Adamawa State’s commissioner for works and energy development, days after Governor Ahmadu Fintiri defected from the Peoples Democratic Party to the All Progressives Congress.

Abubakar’s resignation letter, dated 2 March 2026, was addressed to the governor through the Secretary to the State Government. He gave no reason for his departure.

The timing is pointed. Fintiri announced his defection to the APC in a statewide broadcast last Friday, saying his cabinet and the PDP’s state structure had moved with him. Within 24 hours, 22 commissioners and special advisers publicly announced they were following suit. Abubakar, whose father remains one of the PDP’s most prominent national figures, was not among them.

In a statement issued Monday night, Abubakar’s media aide Abdulaziz Jauro said the former commissioner thanked the governor for the opportunity to serve and pledged continued loyalty to the administration’s developmental agenda. He also expressed gratitude to his father “for granting him the moral support and blessing to serve the people of Adamawa State” — a line that, read in context, suggests Atiku was consulted on the decision.

Abubakar said his resignation was not a withdrawal from public life. “This does not mark the end of his commitment to public service,” the statement read, “but rather the beginning of new avenues for developmental collaboration.”

The resignation leaves unresolved the question of whether it reflects a political break with the governor over his defection or a personal decision unconnected to the broader party realignment now reshaping Adamawa’s political landscape.

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