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BREAKING: Nigeria’s GDP Grows By 2.28% In Third Quarter Of 2019

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Nigeria’s gross domestic product (GDP) grew by 2.28% in the third quarter of 2019, this is according to data made available by the National Bureau of Statistics (NBS).

This is 0.17 percentage points higher than the 2.12% revised GDP growth recorded in the second quarter.

The GDP report which was released on Friday shows that the average daily oil production in the quarter was 2.04 million barrels per day (mbpd).

According to the NBS, the growth rate in Q3 of 2019 represents the second-highest quarterly rate recorded since 2016.

The non-oil sector grew by 1.85% during the third quarter. The sector was driven mainly by the Information and Communication sector. Other drivers were Agriculture, Mining and Quarrying, Transportation and Storage, and Manufacturing. In real terms, the non-oil sector contributed 90.23% to the nation’s GDP.

The Mining and Quarrying sector grew by 5.98% in Q3 2019. Quarrying and other minerals exhibited the highest growth rate of all the sub-activities at 58.03%, followed by coal at 43.68%.

Agricultural sector grew by 14.88% in Q3 2019, showing a decline of –3.44% points from the same quarter of 2018.

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Inside Nigeria

BREAKING: FG Announces Resumption Of Domestic Flights

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Hadi Sirika

The Federal Government has announced the resumption of domestic flights in the country.

The Minister of Aviation, Hadi Sirika, announced this in a tweet on Wednesday.

According to him, the Abuja and Lagos airports will resume domestic operations on July 8, while the Kano, Port Harcourt, Owerri and Maiduguri airports would resume on the 11th.

Other airports are also expected to resume operations on the 15th.

Sirika, however, noted that a date for the international airports will be announced in due course.

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Inside Nigeria

Number Of Poor People Might Triple Due To COVID-19 Pandemic — Buhari

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Buhari

President Muhammadu Buhari has expressed fear of the Coronavirus pandemic making people poorer.

Speaking in a recorded video message to a virtual high-level UN meeting on trends, options and strategies in poverty eradication across the world, President Buhari apprised the UN meeting on steps to revive the nation’s economy in the wake of the pandemic and also warned that COVID-19 pandemic risks reversing decades of progress achieved in the efforts to eradicate poverty globally.

He said, “It is my conviction that devoting our efforts towards human capital development, efficient management of our resources, greater financial inclusion and transformation of the agricultural sector to ensure food security are crucial to poverty eradication.

”In this regard, Nigeria continues to strengthen its existing social safety net initiative by increasing access to enrolees who fit the various programmes in the scheme.

”Nigeria will also continue to provide easier and increased access to financial services for micro and small-scale businesses through the Government Enterprise and Empowerment Programme. But we are determined to do more.

”Nigeria holds the view that education is a critical driver of sustainable development and has an immense capacity to eradicate poverty.

”Educating our children, especially the girl-child, contributes significantly to the fight against poverty, environmental sustainability, and improved health, as well as building peace and resilient societies.”

In the statement released by President Buhari’s media aide Femi Adesina on Wednesday July 1, it was also gathered that the Nigerian leader expressed concern that more than 700 million people or 10% of the world’s population are classified as living in extreme poverty.

He also noted that in Nigeria as in many other countries, the domestic supply chains and trading corridors have come under enormous strain, bringing to fore the health versus economics debate.

Buhari said, ‘‘All the while they struggle with the most basic needs like nutrition, shelter, health, education and access to clean water and sanitation.

‘‘In this condition, the number of poor people is estimated to triple as livelihoods across almost all economic sectors have been adversely affected.”

He also disclosed at the meeting that with a population of about 200 million; a large percentage of Nigerians live in various stages of poverty. According to him, the prospect of the population sliding further into extreme poverty is real and his government is also striving to combat and reverse the trend.

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Inside Nigeria

Buhari Names Adesina, Seriki, Awoniyi 39 Others As Ambassadors Nominees

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President Muhammadu Buhari on Wednesday requested the Senate to screen and confirm 41 non-career and one career ambassadors for appointment.

Buhari’s letter of request was read on the floor at plenary by the Senate President Ahmad Lawan.

Among the nominees included Debo Adesina (Oyo), Exco-Minister of State for Defence, Ademola Seriki (Lagos) and Mr. Dare Sunday Awoniyi (Kogi).

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