LAGOS DECEMBER 1ST (NEWSRANGERS)-As the country continues to battle the economic recession that recently engulfed it, the Vice Presidential Candidate of the Peoples Democratic Party (PDP) in the 2019 elections, Mr Peter Obi, has given out what can be described as a pathway to economic recovery. Obi, who spoke on Arise TV on Monday, agreed…
LAGOS OCTOBER 9TH (NEWSRANGERS)-President Muhammadu Buhari on Thursday said the country was primed for a second recession in four years although the government has put in place plans to ensure rapid recovery in 2021. The President in his remarks during the presentation of the 2021 budget proposal to the National Assembly, said “GDP growth is…
LAGOS AUGUST 13TH (NEWSRANGERS)-The United Kingdom, UK, has officially fallen into recession for the first time in 11 years due to the huge impact of the coronavirus pandemic. According to report from the Office for National Statistics stated that the country’s gross domestic product, GDP, is estimated to have fallen by a record 20.4% between…
LAGOS MAY 22ND (NEWSRANGERS)-The nation’s finance minister, Zainab Ahmed, says the coronavirus pandemic and falling oil prices are set to force the economy into recession. Ahmed made the comments after the National Economic Council (NEC) meeting in Abuja on Thursday. “On the economy, COVID-19 has resulted in the collapse in oil prices,” she said. “This will…
LAGOS DECEMBER 10TH (NEWRANGERS)-South Africa’s state power company intensified rolling blackouts to a record, signaling a deepening crisis at the debt-ridden utility and raising the risk of a second recession in as many years. Eskom Holdings SOC Ltd. said on Monday it will move to Stage 6 load-shedding from 6 p.m. local time, meaning it…
LAGOS JUNE 29TH (NEWSRANGERS)-The World Bank has granted Nigeria a $2.1billion loan to be used exclusively for seven projects. The development bank in a statement Thursday said the projects cut across supporting Nigeria’s investment in nutrition, access to electricity, states’ fiscal transparency, polio eradication, women’s economic empowerment, public finance and national statistics and reducing vulnerability…
LAGOS MARCH 9TH (NEWSRANGERS)-The annual visit of the International Monetary Fund (IMF) staff to Nigeria to collect economic and financial information and discuss with government officials on the economy and policy direction of the country ended earlier this week. After a year of recovery from recession, the macroeconomic growth of the country is looking up…