GDP

The financial institutions and insurance sectors' contribution to Gross Domestic Product (GDP) increased by 27 per cent in 2023, according to the latest information by the National Bureau of Statistics (NBS). The bureau in its “Nigerian…

The National Bureau of Statistics (NBS) on Thursday revealed that Nigeria’s Gross Domestic Product (GDP) grew by 3.46 per cent (year-on-year) in real terms in the fourth quarter of (Q4) 2023.…

Almost everyone expected a global recession in 2023, as central bankers fought high inflation. They were wrong. Global GDP has probably grown by 3%. Job markets have held up. Inflation is on the way down. Stock markets have risen by 20%.…

President Bola Tinubu Tuesday has projected an 18 percent tax to GDP ratio in the next three years in efforts to break the vicious cycle of overreliance on borrowing for public spending, and the resulting debt servicing that has…

The National Bureau of Statistics (NBS) said Nigeria’s annual Gross Domestic Product (GDP) dropped to 3.1 percent in 2022 from 3.4 percent reported in 2021. However, the GDP grew by 3.52 percent in the fourth quarter of…

Nigerians are projected to spend N121.93 trillion in nominal consumptions in 2023 even as growth measured in Gross Domestic Product (GDP) is expected to drop to 3.75 percent in 2023 down from 4.39 percent projected in 2022. In…

  Nigerians are in for a very difficult time following a forecast by the Central Bank of Nigeria (CBN) that inflation might quicken to 16.84 per cent by May 2022.   Inflation was 15.92 per cent in March from 15.70 per cent recorded in…

Nigeria can now borrow as much as forty per cent of its Gross Domestic Product (GDP). This is as contained in the new Medium-Term Debt Management Strategy 2020-2023 as approved by the Federal Executive Council. In a statement by the…

Nigerian federal lawmakers Thursday, passed the 2021-2023 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) which pegs the benchmark for the new budget at $40 and the exchange rate at N379 to One US dollar The…

As the recession occasioned by the oil price plunge and the ravaging covid-19 pandemic takes its toll on Nigerians, the International Monetary Funds (IMF) on Friday projected that the economy will start to recover in 2021 and return to the…