Nigeria, Others’ GDP To Hit $7trn By 2035, Says ACFTA       Nigeria and other African countries’ gross domestic product (GDP) will reach $7trillion by 2035 because of their huge market, the African Continental Free Trade Area (ACFTA) said on Monday. Its Secretary-General, Wamkele Mene, who spoke during...

Aviation Sector Contribution To GDP Drops By 57.38%     The Gross Domestic Product report released by the National Bureau of Statistics on Monday has shown that air transport under the transportation and storage sector contracted by 57.38 per cent in Q2 2020 from 5.68 per cent...

Insurance Sector Shrank By 28.15% In Q2 - NBS     The insurance sector of the Nigerian economy contracted by 28.15 per cent in the second quarter of the year. This was contained in the National Bureau of Statistics’ Gross Domestic Product report for the second quarter of...

Telecoms Sector Contributes N2.3trn To Q2 GDP     Despite the economic impact of the COVID-19 pandemic, Nigeria’s telecommunications and information services sectors remain the enablers of growth, with N2.3 trillion or 14.30 per cent Gross Domestic Product (GDP) contribution in the second quarter of 2020. Data available...

Recession Will Be Short-lived — Finance Minister     The Central Bank of Nigeria, CBN, yesterday, directed licensed bureaux de change operators to sell dollars to customers at a rate not higher than N386 to the dollar. This came as the Federal Government, yesterday, said despite the N2.3...

Nigeria’s GDP Declines By 6% In Q2 — NBS     The country’s Gross Domestic Product (GDP) decreased (year-on-year, YoY) to- 6.10 per cent in real terms in the second quarter of the year (Q2’20) as non-oil GDP records first fall by 6.05 per cent since Q3’17. In...