IMF Further Reduces Nigeria’s Growth Rate By 5.4%
The International Monetary Fund has downgraded Nigeria’s 2020 growth projection, saying the economy will shrink by 5.4 per cent.
The IMF had in April 2020 projected that the country’s economy would contract by 3.4 per cent this year.
The...
COVID-19: AfDB Forecast $88.3bn Drop In Africa’s GDP
The African Development Bank (AfDB) has projected that the ongoing Coronavirus (COVID-19) pandemic ravaging economies globally could cause Africa’s Gross Domestic Product (GDP) to drop by between $22.1billion and $88.3billion.
According to the Bank, before the advent of...
Nigeria Needs To Spend 18% GDP On Infrastructure, Says IMF
The International Monetary Fund has estimated additional spending of 18 percentage points of Gross Domestic Product by 2030 for Nigeria to achieve Sustainable Development Goals.
It stated this in its report on, “Technical assistance report––additional spending...
Insurance Sector Recorded 5.6% Growth In Q1 - NBS
The insurance sector grew by 5.6 per cent in the first quarter of 2020 financial period, according to latest statistics from the National Bureau of Statistics on the 2020 Q1 Gross Domestic Product report.
Part of the...
NESG Forecasts 7.3% Decline In Nigeria’s GDP In 2020
Nigerian Economic Summit Group (NESG) has predicted that the Nigerian economy would contract by 7.3 per cent in 2020 if the average crude oil price slumps to $15 per barrel in 2020 and Nigeria’s crude oil...
Aviation Industry Contributed 0.14% To GDP In 2019 – NBS
Despite challenges in the industry, air transport’s contribution to the country’s Gross Domestic Product marginally increased from 0.12 per cent to 0.14 per cent between 2018 and 2019.
Aviation industry’s contribution to the country’s Gross Domestic...
