ICT boosts GDP by 12% in second quarter
Information Communications Technology (ICT) contributed 11.81 per cent to Nigeria’s economic growth in the seco¬nd quarter of this year, President Muhammadu Buhari disclosed yesterday. The figure was 1.81 per cen¬t above the 2017 statistics.
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…
#SocialMediaTax: Coming soon to a country near you
A despondent wave of social media tax is blowing through Africa. It is a wave that has to be stopped in its track. On July 1, 2018, in Uganda, a tax imposed on social media use because of The Excise Duty Amendment Act 2018 in the East African...
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...
NITDA puts ICT contributions to GDP at 11.8% in second quarter
The National Information Technology Development Agency (NITDA) has said that the contributions of the Information and Communications Technology sector to the country’s Gross Domestic Product (GDP) grew to 11.8 per cent in Q2, 2018. NITDA, which said the figure actually increased by 1.58 per cent from Q1, noted that the Federal Government was working to…
‘Sustained policies, funding to boost contribution of mining to GDP’
Stakeholders in the mining sector, primarily from the PricewaterhouseCoopers (PwC) Nigeria yesterday in Abuja, said the nation will witness significant increase in Gross Domestic Product (GDP) if efforts being made to address challenges in the mining sector are sustained.
Nigeria, Norway seek stronger ties as trade hits $30 billion
With Nigeria being Norway’s largest trade partner on the continent, both economies have stressed the need to strengthen the bilateral ties even further.Indeed, both economies with apparently the same Gross Domestic Product...
At 58, infrastructure, low purchasing power undermine real sector’s EODB
The Gross Domestic Product (GDP) report of the National Bureau of Statistics (NBS) for the second quarter (Q2) showed a 0.45 per cent fall from 1.95 per cent in Q1, to settle at 1.5 per cent (year-on-year) in real terms.