Gross Domestic Product
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…
‘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…
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…
‘Why Nigerian tourism sector lags behind amid huge potential’
Lack of clear destination marketing strategy and synergy among stakeholders has been identified as the bane of Nigerian travel and tourism sector.
‘Why non-oil export sector may remain at level of potential’
The expectations of an end to the rhetorics of “potential” in the non-oil sector may remain unrealised, with assessed myriads of challenges and declining fortunes presently assailing the sector. According to the non-oil exporters, challenges revolving around products, pricing, paperwork, payment, promotion and policies need to be addressed for the non-oil export sector to contribute…
Reasons economists cannot manage economies well
The seventh weakness of economics and economists is that they do not understand the production or supply side. So, they are unable to promote production.
Recession to worsen Nigeria’s rising debt burden
Barely two weeks after meeting with top government officials, Fitch Ratings has passed a negative verdict on the economy, saying that its weak state will worsen Nigeria’s debt profile.
Road to recovery: Why structure is the problem - Part 2
In Nigeria, we have an abysmally low level of tax revenue to Gross Domestic Product (estimated at 1.6 per cent in 2012 and currently 7 per cent) compared to other African countries.
Budget and oil economy: Nigeria’s many troubles
The facts about Federal Government’s fiscal plan in 2016 are obvious. That it made an all-time high budget plan at N6.06 trillion. But it also appropriated an all-time deficit ...