Nigeria’s GDP Grows by 2.98% in Q1 2024 – NBS The National Bureau of Statistics (NBS) says Nigeria’s gross domestic product (GDP) grew by 2.98 percent in the first quarter (Q1) of 2024. The growth rate, the bureau said, is higher than the 2.31 percent recorded...

Low Assets-to-GDP in Banks Explains Recapitalisation The low asset base of Nigerian banks relative to peers makes a compelling case for a recapitalisation exercise, according to Ike Chioke, group managing director, Afrinvest West Africa Limited. Banks’ total assets is only 16.4 percent of the country’s $0.5...

FG to Raise VAT to 15% By 2027 to Fund Fiscal Deficit – EIU The federal government is expected to raise the Value Added Tax (VAT) to 15 per cent from the current 7.5 per cent by 2027 to enable it fund its fiscal deficit...

FG to Raise VAT to 15% By 2027 to Fund Fiscal Deficit – EIU The federal government is expected to raise the Value Added Tax (VAT) to 15 per cent from the current 7.5 per cent by 2027 to enable it fund its fiscal deficit...

Manufacturing Contribution to Economy Drops to 2.2% - NBS The real sector’s contribution to the Nigerian economy dipped to 2.20% (year-on-year) in the second quarter of 2023, according to the Gross Domestic Product report of the National Bureau of Statistics. According to the report, the growth...

Insurance Firms, Banks Others Contribute N1.72trn To Economy   Banks, insurance companies and other financial institutions contributed N1.72 trillion to the nation’s real Gross Domestic Product (GDP) in the first half of the year, H1’23. This represents 27 percent year-on-year YoY growth from the N1.35 trillion contributed...