Nigeria’ll work for oil market stability – Sylva

April 7, 2020 Benjamin Umuteme 0

Ahead of the rescheduled meeting of the Organisation of Petroleum Exporting Countries (OPEC) on Thursday, the federal government says it is ready for work for the stability of the oil market. The price war between Saudi Arabia and Russia has drove  down oil price to as low as $22 per barrel. However, with hope of an agreement, crude prices have rose Read More

The catastrophic economic cost of Covid-19

April 6, 2020 Jerry Uwah 0

Mankind is at war with an invisible, seemingly inanimate substance which has wrecked more havoc on the United States of America (USA), the world’s largest economy, than the Japanese invasion of Pearl Harbour in December 7, 1941. The coronavirus pandemic (Covid-19) has sent shock waves down the spines of the entire human race. For the first time in human history Read More

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Oil price drop, high debt-serving costs: Another recession looms

March 13, 2020 Editorial III 0

In mid 2014, when the price of crude dropped to less than $30 per barrels globally, Nigeria’s revenue dipped by 70 per cent as oil was its main revenue source. With coronavirus pandemic and the Saudi-Russia trade war, analysts fear that Nigeria might just be on the precipice of another recession; BENJAMIN UNUTEME reports. When in June 2014, global price Read More

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A looming fiscal crisis? Holy ghost, fire!

August 22, 2019 Editorial III 0

Money, the wag says, gets attention any time, anywhere. So did it happen that on August 21, this got my instant attention: “Nigeria heading into fiscal crisis – presidency warns.”             Mallam Garba Shehu, the president’s senior special media adviser, gave the warning on behalf of the federal government. I cancelled my decision to nap. I was actually jolted out Read More

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How Buhari faired in 4 major indicators in his first term

May 30, 2019 Editorial IV 0

The President Mohammadu Buhari’s administration  showed remarkable strength when the economy slipped into recession, the first in 25 years, but was quickly able to bounce out in the last two years. The economy of Africa biggest oil producer contracted in 2016 for the first time in 25 years as oil output slumped. While the economy expanded in the last two years, Read More

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Another recession looms, if…- CBN

May 23, 2019 Editorial IV 0

Central Bank of Nigeria (CBN), Godwin Emefiele, Wednesday expressed concern over high rate of unemployment and warned that it may slide the country back to recession if not urgently addressed. Emefiele said Nigeria luckily exited recession which according to him,  “has seen recession pending downward to about 18.72 percent in 2017 to about 11. 37 percent today”. “We have seen reserve moving up. But Read More

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I see economic recession in 2020 –Yari

April 30, 2019 Editor 0

Chairman of the Nigeria Governors’ Forum (NGF) Abdulaziz Yari has said Nigeria risked another round of recession between 2020/2021. To this end, he said the newly elected governors should brace up for the challenges to be posed by such development. Yari, who is also the Zamfara state governor, said this Monday at the opening ceremony of an induction of new Read More

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Academics suggest ways to sustain nation’s economic growth

April 5, 2019 Editorial IV 0

Renowned economists and academics Tuesday proffered strategies for the federal government to sustain the path of economic growth that had so far been gained since it overcame the 2016 recession. These economics experts  spoke at the 2019 Annual Conference, organised by the Lagos State University (LASU), Faculty of Management Sciences, holding from April 1 to April 3, with the theme, “Strategies Read More

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If Buhari wins, we’ll cripple economy”

February 14, 2019 Editorial IV 0

A militant group in Nigeria’s oil-rich southern Niger Delta threatened on Thursday to cripple Africa’s top oil producer if President Muhammadu Buhari is re-elected in a vote due to be held on Saturday. The Niger Delta Avengers Thursday threatened to cripple Nigeria’s economy if President Muhammadu Buhari is re-elected tomorrow. The group in a statement said they hoped to end Read More

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Economy on growth path – Udoma

February 13, 2019 Editorial IV 0

The Minister of Budget and National Planning, Sen. Udoma Udo Udoma says Nigeria’s economy is firmly on the path of growth. Udoma, in a statement in Abuja said, the country’s Gross Domestic Product (GDP) for the fourth quarter, 2018 showed the strongest performance since the economy emerged from recession. The minister made this known at a gathering of media professionals Read More

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Nigeria’s looming debt challenge, a cause for concern?

February 15, 2018 Editorial IV 0

Speaking at a media parley organised by the First City Monument Bank (FCMB) Plc in Abuja, CEO of RTC Advisory Services, Mr. Opeyemi Agbaje, in a presentation ‘The Nigerian Economy and Financial Sector in 2018,’ warned that the government’s debt led strategy is a disaster waiting to happen, BENJAMIN UMUTEME reports. Nigeria existed recession in the third quarter of 2017, Read More

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Non-payment of minimum wage affecting manufacturing sector — Eburajolo

November 8, 2017 Editorial IV 0

Mr. Victor Eburajolo is a renown industrial relations expert and Group Deputy Managing Director, Kewalram Chanrai Group. In a chat with journalists, the labour expert speaks on the agitation for a new minimum wage and how its non-implementation is affecting the manufacturing sector, among others. MOSES JOHN reports. Business environment in a recession We are just beginning to crawl out Read More

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Recession: Nigeria’s economy still weak, inflation is high – Atiku

September 6, 2017 Blueprint 0

Former Vice President and chieftain of the All Progressives Congress, (APC), Atiku Abubakar, has cautioned that while Nigerians must rejoice over the official emergence of the country from recession, it’s also important to recognize that the economic weakness at the bottom of the pyramid remains, adding that ‘inflation is still high.’ Atiku, who is an investor and employer of labour, Read More

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Recession Exit: Its a lie vendor, mechanic, others react, promise fulfilled – APC

September 6, 2017 Blueprint 0

Following the National Bureau of Statistics (NBS) announcement that the country has exited economic recession, some Nigerians have doubted the claim saying their daily hardship experiences have not improved for better. Our Correspondent who visited some densely populated areas in the Federal Capital Territory, Abuja on Wednesday, was told by most of the respondents that they were still waiting for Read More

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Recession exit claim unverifiable, doesn’t call for celebration, ADP, SDP react 

September 6, 2017 Blueprint 0

The Action Democratic Party (ADP) has described as a political statement an official statement by the federal government that the country is now out of recession, saying such claim “too bogus without fact and data.” Also reacting to the development, the Social Democratic Party (SDP) said the claim does not call for celebration yet. The National Bureau of Statistics (NBS) Read More

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The economy is too harsh

July 17, 2017 Blueprint 1

Our government should do something concerning the present condition of the economy and the excruciating suff ering that Nigerians are subjected to on a daily basis. Th e eff ects of this recession upon us are unbearable, calamitous and a disaster to everyone. It is a very critical moment for Nigerians now; everybody was living under intense hardship before, now Read More

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Recession threatens our metering target — Ikeja Electric

July 12, 2017 Blueprint 0

Ikeja Electric has said that the current economic recession is having adverse eff ect on its business, especially as it aff ects mass metering programme. Accordingly, it said the constraint has prompted the management to alter its original meter roll-out plan. Th is came as the company lamented huge defi cit in its books owing to customer debt portfolio of Read More