Africa's largest economy Nigeria is expected to fall into a recession by the third quarter according to the budget office. More recent statistics from the National Bureau of Statistics also show a 78.6 per cent slump in total capital imported in the second quarter. Reopening Nigeria's economy is vital for any recovery effort. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa’s Christy Cole to discuss the ideal path to recovery.
Nigeria's National Bureau of Statistics has released the country’s unemployment data for the first time in nearly two years. Nigeria's statistics office pegged its unemployment rate at 27.1 per cent in the second quarter of the year up from the 23.1 per cent reported in the third quarter of 2018. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa for more.
Year-on-year growth in Nigeria’s non-oil sector was slower by 0.93 percentage points in the first quarter of the year, that’s according to recent data from the National Bureau of Statistics. As the Covid-19 pandemic continues to stifle international trade, Akin Laoye, Executive Director at FTN Cocoa Processors joins CNBC Africa to discuss how this pandemic is affecting dynamics for Nigeria's non-oil exports.
The National Bureau of Statistics is expected to release Nigeria’s pension asset data for the first quarter of the year, next week. Ahead of the release, we’ll take a look at how the global Covid-19 pandemic is impacting the asset allocation strategy for pension fund administrators. Joining CNBC Africa more is Niyi Falade, CEO of Crusader Sterling Pensions.
Nigeria’s Minister for Mines and Steel Development, Olamilekan Adegbite, says the country’s mining potential can surpass oil and gas. Meanwhile, data from the National Bureau of Statistics shows that Nigeria’s Mining and Quarrying sector contributed 8.85 to the 2019 GDP lower than the 10.68 per cent recorded in 2018. Joining CNBC Africa to make the investment case for Nigeria’s Mining sector is Cyril Azobu, Partner and Head of Consulting and Mining Leader at PwC.
Nigeria’s agriculture sector grew 2.36 per cent in 2019, hailing the decline in the sector since 2016. The growth was mainly driven by the crop production sub-sector which grew by 2.5 in 2019 compared to the 2.26 per cent growth recorded in 2018. Joining CNBC Africa to assess the performance of Nigeria’s agriculture sector in 2019 is Chike Nwagwu, CEO of Novus Agro.
Latest data from the National Bureau of Statistics shows that Nigeria's economy grew by 2.27 per cent in 2019, beating the IMF's projections with the 4th quarter of the year recording the highest quarterly growth since 2016 recession. So how has this growth trickled down to the man on the street?
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