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Tag: GDP

Economy featured

MAN warns industrial sector suffocating despite 4.43% GDP growth

Nigeria’s 4.43 per cent economic growth recorded in the second quarter of 2026 is masking a deepening industrial crisis, with manufacturing and the broader industrial sector losing ground as services increasingly dominate economic activity, the Manufacturers Association of Nigeria has warned. This came as the senator representing Ogun East, Otunba Gbenga Daniel, said the true […]

featured Finance

GDP growth hasn’t improved workers’ lives, senior civil servants lament

The Association of Senior Civil Servants of Nigeria has said Nigerians have not experienced any tangible sign of economic growth despite the gross domestic product figures released by the federal government on Tuesday. The PUNCH reported that the president of ASCSN, Shehu Mohammed, made this known while speaking with journalists at the Association’s South West […]

featured Opinion

Nigerians cannot eat GDP, Atiku slams presidency’s defence of reforms

Former Vice President Atiku Abubakar has rejected the presidency’s defence of President Bola Tinubu’s economic performance, insisting that government claims of recovery are inconsistent with the realities of rising poverty, food insecurity and worsening living conditions across the country. Responding to a State House statement defending the administration’s reforms, Atiku said no amount of official […]

Opinion

CPPE raises alarm over low manufacturing GDP contribution

Despite Nigeria’s modest economic growth in the first quarter of 2026, experts have raised concerns over the weak performance of the manufacturing sector. They warned that the economy may struggle to achieve sustainable transformation without a stronger industrial base. According to Vanguard, the Chief Executive Officer of the Centre for the Promotion of Private Enterprise, […]

Economy featured

Nigeria’s GDP growth slows to 3.89% in Q1 2026

The National Bureau of Statistics said Nigeria’s Gross Domestic Product growth rate slowed to 3.89 per cent year-on-year in real terms in the first quarter of 2026. The bureau announced the development in its latest GDP report for Q1 2026 on Monday. This represents a moderation from the 4.07 per cent growth recorded in the […]

Economy

Lagos GDP to hit ₦73.15trn in 2026 — Report

The Lagos Development Update 2026 report has projected significant expansion in the state’s economy, with nominal Gross Domestic Product expected to rise to N73.15 trillion this year from N62.66 trillion in 2025, supported by easing inflation, stronger consumption, and improved revenue mobilisation. Speaking at the presentation of the report, Commissioner, Ministry of Economic Planning and […]

Economy

Why Nigeria targets 7% annual GDP growth — Edun

The Minister of Finance and Coordinating Minister of the Economy, Mr Olawale Edun, has said the nation is targeting an annual seven per cent growth in its Gross Domestic Product, GDP, so as to take as many Nigerians as possible out of poverty. He noted that since the economy of the country has stabilised after […]

[ICYMI] Lagos-Calabar highway: Telcos express concerns over threats to cables
Economy featured

Lagos-Calabar coastal road to boost Nigeria’s GDP to $14trn — Experts

Experts have projected that the 750-kilometre Lagos-Calabar Coastal Road could transform Nigeria into a multi-trillion-dollar economy, raising the nation’s Gross Domestic Product from the current under $400 billion to between $1.4 trillion and $14 trillion over the next 50 years. The Development Agenda for Western Nigeria and the BRACED Commission, comprising Bayelsa, Rivers, Akwa Ibom, […]

Business featured

Textile sector GDP falls to ₦4.384trn in 2025

Nigeria’s cotton, textile, and garment industry experienced a continued downward trend in 2025. The sector’s contribution to the nation’s Gross Domestic Product declined to N4.384 trillion. This reflects ongoing structural challenges facing the industry. Data from the National Bureau of Statistics indicates a steady decline in the sector’s output over the past three years. The […]

Economy

Capital market contribution to GDP jumps to 33%

The Nigerian capital market’s contribution to the nation’s Gross Domestic Product has increased to 33 per cent from 13 per cent. This rise follows a N68.93 trillion growth in market capitalisation since April 2024. The Director-General of the Securities and Exchange Commission, Dr Emomotimi Agama, made this disclosure during his inaugural address to the newly […]

Finance

FG pledges 5% of GDP for industrial financing push

The Federal Government has announced plans to allocate up to five per cent of Nigeria’s Gross Domestic Product annually for industrial development financing. This move aims to significantly increase the manufacturing sector’s contribution to the economy. The initiative forms part of the newly launched Nigeria Industrial Plan, which was unveiled in Abuja by the Federal […]

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