Experts project positive outlook for Nigeria’s mortgage market
Although, mortgage financing has continued to be a source of worry for operators in the nation’s housing delivery, investors and industry players have projected a positive future. Currently, Nigeria’s mortgage banks charge between 19 and 24 per cent. And this could go higher, depending on the risk volume, which has affected the real estate’s potential…
Sustained manufacturing PMI aids sector’s contribution to GDP
Rising consumer demand in the second half of the year, preparatory to the yuletide celebrations, as well as availability and stability of foreign exchange for production...
Non-oil sector grows Nigeria’s GDP to 1.8%, says NBS
Data from the National Bureau of Statistics (NBS) has shown that Nigeria’s Gross Domestic Product (GDP) grew to 1.81 per cent (year-on-year) in real terms in the third quarter of 2018, driven mainly by the non-oil sector, which contributed 90.62 per cent. When compared to the third quarter of 2017, which grew by 1.17 per…
Nigeria’s economy is bleak, says World Bank
The World Bank has said that Nigeria’s Gross Domestic Product (GDP) growth is expected to hover slightly below two per cent in 2018, largely driven by non-oil industry and services.
Sekibo calls for innovation to boost GDP through agric
The Managing Director/Chief Executive Officer of Heritage Bank Limited, Ifie Sekibo, has called for increased innovation and ideas in the agriculture sector to maximise its contributions to the nation’s Gross Domestic Product (GDP).
Governance index scores Nigeria, others low on economy
Some economic experts have said the 2018 Ibrahim Index of African Governance (IIAG) has affirmed the prevailing unemployment and poor economies in Nigeria and a good number of other African nations amid the huge human and natural resources on the continent.
PenCom’s multi-fund policy lifts contributions above N8.3 trillion
With just two months after the effective take off of the newly introduced Multi-Fund Structure by the National Pension Commission (PenCom), the contributions under the watch of the institution has risen to N8.34 trillion as at September 30, from N8.04 trillion at the end of March 2018. Already, PenCom has attributed the quantum leap in…
AfCFTA as Nigeria’s economic tsunami - Part 2
And now AfCFTA seeks to increase “internal” trade in a continent with structural problems of low complementarity of tradable natural commodities, poor socio-economic infrastructure and a stagnant 10% contribution of manufacturing industry to its GDP.
‘Absence of national property databank impeding investment’
The lack of market information with which to benchmark valuations or support investment decisions is affecting prospective investors from committing funds to the real estate sector. The severity of situation has continued to remain a black box within the industry. While some firms have established own proprietary data and others have started to publish useful…
Judicial reform positively impacting GDP, says Ambode
Lagos State Governor, Mr. Akinwunmi Ambode, on Friday, commended judicial officers in the state for their integrity and dedication to duty, saying it was gratifying to note that the reforms carried out in the judicial sector were already improving the state...