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Tag: GDP

Economy featured

FG to boost GDP by 21% with digital e-governance bill

The Federal Government has said that Nigeria’s Gross Domestic Product could receive a major boost from the digital economy, with contributions projected to rise to 21 per cent by 2030, if the proposed National Digital and E-Governance Bill is passed into law. The Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani, stated this […]

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Economy featured

Govs target $100bn GDP from creative sector by 2030

The Nigeria Governors’ Forum has pledged to support the Federal Government’s initiative aimed at enhancing the growth and development of Nigeria’s creative economy and tourism sectors. The News Agency of Nigeria reported that the federal government outlined key strategic interventions to grow the arts, culture, tourism and creative economy contributions to the Gross Domestic Product […]

Economy

GDP experiences slow growth, climbs 2.54% in Q3 – NBS

The National Bureau of Statistics has stated that Nigeria’s GDP grew slightly in real terms during the third quarter of 2023, or 2.54% year over year. However, the country’s GDP remained muted. According to The Punch, this growth rate is higher than both the 2.25 percent growth in Q2 2022 and the 2.51 percent increase in Q2 […]

Why Africa risks losing 15% GDP to climate change - AADFI
News

Why Africa risks losing 15% GDP to climate change – AADFI

Under the auspices of the Association of African Development Finance Institutions, Development Finance Institutions have called for actionable plans to incorporate climate-resilient products into African business models as part of solutions to address climate finance needs and derisk sustainable investments in the region. According to The Punch, this was due to research that showed if […]

Equity market loses N92bn as stocks tumbles
Business

Stock market maintains upward rally despite poor GDP data

The Nigerian stock market has been dominated by a bullish trend against the backdrop of the Gross Domestic Product, GDP, which reported a 2.51% rise in the second quarter of 2023, Q2’23, a considerable drag below both the first quarter result and experts’ predictions. Vanguard reported that the Nigerian Exchange Limited, NGX, All-Share Index, ASI, […]

How inflation, forex crisis may affect consumer goods industry - Report
Economy

Nigeria’s GDP rose 19.54% in Q2 2023 – Report

In the second quarter of 2023, ICT-related activities accounted for 19.54% of Nigeria’s real Gross Domestic Product. This information was included in the Q2 GDP data by the National Bureau of Statistics. When compared to the 18.44% observed during the same period previous year, this indicates an increase in contribution. The sector’s real GDP contribution […]

Oil and Gas

Oil, gas contributed 5.34% to Nigeria’s GDP – Report

Nigeria’s oil and gas sector generated only 5.34% of the country’s Gross Domestic Product. Its contribution was lower than in the equivalent time of 2022 and the previous quarter, 6.33% and 6.21%, respectively. This is according to the most recent GDP data, which the National Bureau of Statistics released on Friday, August 25. According to the NBS […]

Internet usage drops in Nigeria after 50% tariff hike – NCC
Telecommunications

Nigeria’s internet subscribers hit 159m in May 2023

In Nigeria, there are now 159.5 million active internet subscriptions across fixed, mobile, and VOIP networks. According to the Nigerian Communications Commission’s most recent industry figures, this is an 8.6% increase over the 158.2 million recorded in April. With 159 million subscriptions, the mobile network providers MTN, Airtel, Globacom, and 9mobile continued to dominate the internet […]

How Canada's largest strike will affect its economy - Report
Economy

How Canada’s largest strike will affect its economy – Report

Analysts have predicted that the largest strike in Canadian history, which is currently on the tenth day, will have an impact on this month’s growth. With the overall effect being a lower start to the second quarter than had been anticipated, the Canadian economy grew less than expected in February from the previous month due to […]

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