Chuks Isiwu 20 July 2017, Sweetcrude, Lagos – Nigeria is losing $25 billion annually due to gas flaring. This should be…
Browsing: Economic recession
The Nigerian economy is in the second year of a recession brought on by low oil prices. Crude sales make up two-thirds of national revenue and the government is seeking to boost its income from non-oil sources.
Adeosun argued that the Muhammadu Buhari administration inherited several problems when it took office, many of which serve as impediments to attaining its goals of facilitating development across every sector of the nation. Inspite of the challenges, the nation was getting on the path of sustainable growth, she said.
“Anti-labour activities, massive corruption among the elites, dearth of forex scarcity, oil price crash are all man-made problems. For the umpteenth time, we reiterate that we need a paradigm shift if we must count among the comity of nations.”
“Already, as you can see, the country is coming out of economic recession, soon the prices of commodities will go down, and generally things will take a good shape. We call on Nigerians to be patient and not to lose hope. I urge us to be prayerful and by God’s grace we shall get better and stronger as a nation,” he added.
Nigeria, the continent’s most populous nation and a leading oil producer, was expected to return to growth in 2017 after a challenging 2016 characterised by recession, a dip in oil prices and energy shortages.
11 March 2017, Sweetcrude, Lagos — NIGERIA’s inability to locally produce goods and services for its domestic needs has been…
The report noted the worrisome recent weakening of investment growth in the emerging markets and developing economies, which account for one-third of the global GDP and about three quarter of the world’s population and the poor.
While reiterating the importance of making the 2017 budget “the most successful budget we have ever passed,” Saraki said it was equally important to emphasise the need to have the budget back on the desk of the executive on time for implementation.
10 January 2017, Lagos – A factional Chairman of the Independent Petroleum Marketers Association of Nigeria, in Kwara State, Alhaji Olanrewaju…
