GDP
Research: Nigeria records nearly 30,000 tobacco smoking-related deaths
An Abuja-based Centre for the Study of Economies of Africa (CSEA) has reported that a research it conducted had revealed that 28,876 deaths related to tobacco smoking are recorded annually in Nigeria. Marco Castradori, a research associate with the CSEA, revealed this, on Monday, in Kano, at a report dissemination workshop on the health burden and economic cost of smoking in Nigeria. According to Mr Castradori, the number represents around 16 per cent of deaths from smoking-related diseases and above five per cent of all cases of deaths. “Among the disease analysed, nearly 737,366 events are expected each year, of which 127,859 representing 17 per cent are attributable to cigarette consumption. “In terms of costs, these conditions burden the Nigerian healthcare system with nearly N634 bill...
NESG: Nigerian economy to beat IMF growth forecast in 2021
The Nigerian Economic Summit Group has predicted a growth rate of 2.9 per cent for the Nigerian economy in 2021, higher than the 1.5 per cent growth rate suggested by the International Monetary Fund. The NESG identified eight key policies and events that will help shape the outlook of Nigerian economy in 2021. This is contained in the group’s 2021 Macroeconomic Outlook Report titled, “Four Priorities for the Nigerian Economy in 2021 and Beyond,” launched virtually on Tuesday. According to the report, for Nigeria’s economy to get back on track, the economy needs a high, robust and sustained economic growth that will deliver a significant reduction in unemployment and poverty. The report said the government’s most important agenda in 2021 must be to address these problems as a foundation for...
Bishop Kaigama: It’s time to give youths chance in governance
The Archbishop of the Catholic Archdiocese of Abuja, His Grace Ignatius Kaigama, has said time has come for youths to take active part in governance. Kaigama, who insisted that “it is the right time now to give our youths a chance to express their leadership skills”, tasked authorities to expand the political space to allow more youths involved in decision making. Kaigama particularly advised Nigerian youths to seize the opportunity to bring to an end, decades of recycling political leaders by taking up leadership positions in the country. Speaking Saturday, during the 9th convocation lecture of Veritas University, Abuja,where he is the Chancellor, Kaigama said:”Recent events in our country show that there is the urgent need to expand the political space and allow our youths to be more inv...
Abuja chamber welcomes FCT tax harmonisation
Abuja Chamber of Commerce and Industry (ACCI) has welcomed the plan by the Minister of the Federal Capital Territory (FCT), Alhaji Muhammad Bello to harmonise tax policies within the territory in order end multiple taxations on by businesses in the territory. The President of ACCI, Alhaji Abubakar, in a statement yesterday, commended the minister for acknowledging the challenges faced by businesses within the territory due to series of levies, charges and taxes from Federal, FCTA and Area Councils. “Multiple taxations within the FCT and the larger national economy has imposed crippling consequences on businesses. “The fallout has been many failed businesses, the rising level of inflation, the non-thriving of existing ones and the lack of capacity to engage many unemployed youths. “We want ...
World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021
ABS-CBN The World Bank says global economy is expected to grow by 4 per cent in 2021, assuming an initial COVID-19 vaccine rollout becomes widespread throughout the year. It said this in a statement issued in Washington D.C. on Tuesday at the presentation of the January 2021 Global Economic Prospects. It added that the said recovery would likely be subdued unless policy makers moved decisively to tame the pandemic and implement investment-enhancing reforms. The bank also said that growth in Sub-Saharan Africa was forecast to rebound moderately to 2.7 per cent in 2021, while Nigeria’s growth was expected to resume at 1.1 per cent. For the region, it said that while the recovery in private consumption and investment was forecast to be slower than previously envisioned, export growth was expe...
National Assembly raises 2021 budget by N580 billion, approves N13.588 trillion
The two chambers of the National Assembly yesterday passed the 2021 Appropriation Bill, increasing the budget size from N13.08 trillion presented to them by President Muhamnadu Buhari 11 weeks ago to N13.588 trillion. The passage of the 2021 budget followed consideration and adoption of harmonised reports separately submitted to them by their Committees on Appropriation. The two chambers increased the 2021 budget by about N580 billion and pegged daily crude oil production at 1.86 million barrels per day, while oil benchmark price was fixed at $40 per barrel. They approved N379 to dollar as the official exchange rate while GDP growth rate was pegged at 3 per cent. Highlights of the report approved by the Senate showed aggregate expenditure to be N13,588,027,886,175, statutory transfer of N4...
Nigerian government seeks new Eurobond
The federal government yesterday disclosed that it would approach the Eurobond market next year in its effort to shore up the economy, amidst cocktails of measures being put in place to douse the effects of the Covid-19 pandemic on the economy. On the same day, Central Bank of Nigeria (CBN) Governor, Godwin Emefiele, while speaking at the 55th Annual Bankers Dinner organised by the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, predicted a two per cent growth in the country’s Gross Domestic Product (GDP) in 2021. Finance Minister, Zainab Ahmed, who disclosed the Eurobond plan while speaking on Bloomberg TV, explained that the decision would depend on the prevailing interest rates. She, however, did not specify the amount to be accessed from the Eurobond. The Eurobond option is ...
NAPTIP chief decries high rate of out-of-school girls
The Director-General of the National Agency for the Prohibition of Trafficking in Persons (NAPTIP), Mrs Julie Okah-Donli, has decried the rate of out-of-school girls in the country. The post NAPTIP chief decries high rate of out-of-school girls appeared first on TODAY. You Deserve to Make Money Even When you are looking for Dates Online. So we reimagined what a dating should be. It begins with giving you back power. Get to meet Beautiful people, chat and make money in the process. Earn rewards by chatting, sharing photos, blogging and help give users back their fair share of Internet revenue.
Minister: Broadband subscriptions increased by 4,061,731 in October
Home Telecom Broadband penetration in Nigeria increased to 45.43 per cent by the end of October 2020, the Federal Government announced on Wednesday. Minister of Communications and Digital Economy, Isa Pantami, said the rise was due to an increase of 4,061,731 broadband subscriptions between September and October 2020. He said the implementation of the National Digital Economy Policy led to the rise in broadband subscriptions across the country during the review month. Pantami, who disclosed this in a statement issued in Abuja by his Technical Assistant, Information Technology, Femi Adeluyi, observed that the Nigerian National Broadband Plan 2020-2025 had impacted significantly on broadband penetration. The minister noted that the plan was implemented alongside the harmonisation of Right-of...
Broadband penetration hits 45.43 percent in Nigeria
The Minister of Communications and Digital Economy, Dr Isa Pantami, says broadband penetration in Nigeria increased to 45.43 per cent in October. Dr Femi Adeluyi, Technical Assistant on Information Technology to the minister, said this in a statement on Wednesday in Abuja. Adeluyi said that this was due to an increase of 4,061,731 broadband subscriptions between September and October 2020. “This increase in broadband penetration has been as a result of conscientious implementation of the National Digital Economy Policy for the overall benefit of the economy to achieve a Digital Nigeria. “The Nigerian National Broadband Plan (2020-2025), along with the harmonisation of Right of Way charges across the states and protection of critical national infrastructure across the country, had a signifi...
Tech is the new ‘oil’ – NITDA chief
The Director General of National Information Technology Development Agency (NITDA), Mallam Kashifu Abdullahi, has said that Information and Communication Technology (ICT) is the new ‘oil’, because of its increasing contributions to the nation’s Gross Domestic Products (GDP). The DG who said this while delivering a remark at a virtual conference also said his agency is actively accelerating digital inclusion in Nigeria by taking advantage of the speed of existing infrastructure across the country. “Technology is the way forward in communications and other activities like meetings, prescriptions by doctors, conferences and other related activities which has aid the implementations of policies and strategies for the growth and development of our country. “It is the next oil, simply because of...
NCC contributes N2.272 trillion to Nigeria’s GDP – chief
The Executive Vice Chairman of the Nigeria Communications Commission (NCC), Umar Garba Danbatta, has said that the contribution of the Telecommunication sector to the country’s Gross Domestic Product (GDP) has risen from 8.5 per cent in 2015 to 14.3 per cent as at September this year amounting to N2.272 trillion. Danbata disclosed this when members of the House of Representatives Committee on Telecommunication led by its Chairman, Rep. Akeem Adeyemi visited the Commission on an oversight The Executive Vice Chairman of the Commission also disclosed that Investments in the sector had risen from 38 billion dollars in 2015 to over 70 billion dollars now while the Commission had also paid over N344 billion into the Consolidated Revenue Fund of the federation within the period under review, an a...
