West Africa’s mobile ecosystem turns up $50b value, boosts employment
West Africa’s mobile ecosystem generated more than $50 billion in economic value in 2018, equivalent to 8.7 per cent of the region’s Gross Domestic Product (GDP), according to the Global System Mobile Communications Association (GSMA). This statistics, released yesterday at the on-going ‘Mobile 360 – West Africa’ event, in Abidjan, Côte d’Ivoire, was contained in…
Tax holiday for manufacturers, remarkable
The downward trend in industrial manufacturing in Nigeria is not unconnected with several intractable problems facing the sector. Low capacity utilisation occasioned by huge importation has remained a recurring decimal.
Are we miserable people?
These egg heads are purveyors of good and bad news. They confuse us. A few years ago, they turned in a report showing that Nigerians were the happiest people on earth. We welcomed it as good news. Some of us were not entirely pleased with it, seeing that we were largely snarling, not smiling owing…
Nigeria’s public debts grow by 12.25% to N24.387 trillion
Nigeria's debt burden has risen to N24.387 trillion as at the end of December 2018, up from the last September 30, 2017 level of N22.428 trillion, indicating an increase of at least 12. 2 per cent.
‘Africa loses N864tr yearly to diseases’
Africa loses more than $2.4 trillion (about N864 trillion) of its Gross Domestic Product (GDP) yearly to diseases afflicting its 47 member states. It also lost nearly 630 million years of healthy life in 2015 to infirmities. A recent estimate by the World Health Organisation (WHO), published yesterday, showed that Nigeria, Democratic Republic of Congo,…
‘Buhari must make urgent economic policies to address inefficiencies’
With the re-election of President Muhammadu Buhari for another term in office, rating agency, Augusto & Co, has asked the President to adopt a private sector growth approach, and improve efficiencies in the system, as there are limits to government’s efforts in stimulating growth and creating jobs.
FG and GDP estimates
Nigeria's Gross Domestic Product estimates (in real terms or at 2010 constant prices) for the full year 2018 limped by 1.93 per cent over 2017. The NBS estimates fell within a hair’s breadth of the projected 1.9 per cent growth rate contained in the 30/3/17 IMF press release ....
NCAM boss urges halt to fish importation
Nigeria as a nation blessed with many rivers and oceans should promptly stop further importation of fish to boost its Gross Domestic Product (GDP).
Why NBS economic growth report is wrong, by experts
The report of the National Bureau of Statistics (NBS) yesterday that the economy recorded 2.4 per cent growth in the fourth quarter of 2018 drew criticism from economic experts.
Despite growth, manufacturing sector’s contributions to GDP remain static
Despite the real Gross Domestic Product (GDP) growth recorded by the manufacturing sector for the fourth quarter of 2018, the sector’s contributions to the nation’s GDP during the period did not change from 2017 share (8.86%), as well as in the annual contribution, which rose only slightly from 9.18% in 2017 to 9.20% in 2018.…