Analysis

Nigeria’s economy grew 1.87 percent in real terms in the first quarter of 2020 year-on-year, the National Bureau of Statistics said on Monday, shrinking from the previous quarter as oil prices and international trade fell due to the coronavirus pandemic. It is the slowest quarterly growth rate in one-and-a-half years even as the country is yet to recover from a 2016 recession that led to more than 13 million job loss. On the contrary, The total value of capital inflows into the country stood at $5.854 billion in the Q1’20, representing a 53.97 percent increase compared to $3.802 billion recorded in Q4’19. However, there are fears that the numbers might drop in the coming quarters as the impact of COVID-19 pandemic begins to set in. The NBS data showed that the largest amount of capital importation by type was received through portfolio investment at $4.309 billion, accounting for 73.61 percent of total capital importation, followed by other Investment, which accounted for 22.73 percent at $1.33 billion of total capital, and Foreign Direct Investment which accounted for 3.66 percent $214.25million of total capital imported in Q1 2020. In the Q2’19, the country’s real GDP at basic prices grew by 2.12 percent ...
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Nigeria’s economy grew 1.87 percent in real terms in the ...
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Two sources of foreign exchange for Nigeria took a hit ...
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A note on the methodology: in the first version of ...
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About 23,000 residents in northwest Nigeria ravaged by violence have ...
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Data from the National Bureau of Statistics show that 82.9 ...
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Abba Kyari, died on 17 April, after struggling for many ...
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President Muhammadu Buhari has ordered that all loans received from ...
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The FG has announced significant changes to its 2020 budget ...
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The Doyin Salami-led Economic Advisory Council appointed by President Muhammadu ...
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Share prices across the world sank on Monday as panicked ...
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Nigeria’s national security adviser, Babagana Monguno, has issued a warning ...
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A lack of confidence in the ability of the political ...
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