Nigeria’s GDP growth rate declined to 1.94 percent in Q2. This is 0.16 percentage points lower than the 2.10 percent recorded in Q1. The Q1 figure had represented a decline by -0.38 percent points when compared to Q4 2018. Despite the quarter-on-quarter decline, the NBS said the GDP grew year-on-year, in real terms, when compared to Q2 2018 which recorded a growth of 1.50 percent an increase of 0.44 percent points. During the quarter, aggregate, according to the data, GDP stood at ₦34.944 million in nominal terms, an increase of 13.83 percent over the performance in Q2 2018, and 9.8 percent over the preceding quarter. The performance observed in Q2 2019 follows an equally strong Q1 performance and was aided by stability in oil output. Overall, a total of 15 activities grew faster in Q2 2019 relative to last year, while 13 activities had higher growth rates relative to the preceding quarter. The oil sector posted a real growth rate of 5.15 percent y-o-y in Q2 2019 indicating an increase of 6.61 percent points when compared to Q1 2019. The non-oil sector grew by 1.64 percent in real terms during the reference quarter. This was –0.40 percent points lower than recorded in the same quarter of 2018, and -0.83 percent point lower than the Q1 of 2019.
The Punch is reporting that the EFCC has abandoned the hunt for the Chairman of the defunct Pension Reform Task Team, Abdulrasheed Maina, indicted for a ₦2.1 billion pensions biometric scam. The EFCC lost interest in the case following the official protection enjoyed by the ex-director who was also promoted after his controversial reinstatement into the civil service by President Buhari’s government in 2017. EFCC spokesman, Wilson Uwujaren, said there was no update on the manhunt for Maina who fled the country after he was declared wanted by the anti-graft agency in 2013. He fled to the UAE where he hibernated for three years until he was said to have met with the Attorney General of the Federation and Minister of Justice, Abubakar Malami, in Dubai, in 2016, during which he was reportedly assured of his safety in Nigeria. Shortly after this, Maina’s name was taken off the watch list at the country’s international airports and he had been visiting the country more regularly from his foreign base. Malami had, in November 2017, admitted before a Senate ad hoc panel probing Maina’s reinstatement into the civil service that he met with the former PRTT boss in Dubai. Maina in January 2019, secured a court order stopping the EFCC from declaring him wanted. Justice Giwa Ogunbanjo of the Federal High Court described the action of the anti-graft agency in declaring Maina wanted as unlawful. Maina is still listed as a wanted person on the EFCC’s website.
A man was shot dead by police outside Shoprite, Jakande, in the Lekki area of Lagos. A witness said he was killed after an angry mob set a police van on fire during a protest on Tuesday. Protesters had stormed the complex following outrage over the attacks on Nigerians based in South Africa. Policemen prevented the protesters from gaining access into the mall, but the protesters lit bonfires and set up barricades around the complex. The incident happened a day after reports of attacks on foreign nationals, including Nigerians, in South Africa, went viral. The FG had earlier summoned Bobby Moroe, South Africa’s high commissioner to Nigeria, over the attacks on Nigerians in that country. Moroe had denied that there was no fresh case of xenophobia in his country, describing the attacks as “sporadic cases of violence”.
The NNPC has redeployed managers especially in its upstream industry exploration and production subsidiary, the Nigerian Petroleum Development Company. About 15 managers from the NPDC have been affected in the redeployments. NNPC boss, Mele Kyari said that redeployments at NPDC are the quick fix immediately needed to restore the integrity of the system. The exercise is likely to extend to all the subsidiaries, strategic business and corporate services units across the country. The new management at the NNPC reportedly wants to inject new blood into the system and reinvigorate a new spirit among the staff to deliver on their mandates. The names of the affected managers were not made known, but the NNPC is expected to make a formal announcement on the matter in due course.