The Nigeria Economic Summit Group, NESG, is forecasting a deeper recession for the country as it says it expects real GDP to decline by 7.3 per cent this year on the back of the COVID-19 outbreak, dwindling oil prices among other indicators. Joining CNBC Africa to discuss the details is the CEO of the Nigeria Economic Summit Group, Laoye Jaiyeola.
The severity and alarming levels of spread has prompted the World Health Organisation (WHO) to declare the coronavirus outbreak a pandemic. To discuss the impact on Nigeria's economy is Femi Ojumu, Senior Partner at Femi Ojumu & Co and Kyari Bukar.
As Nigeria sets up a committee to review the oil benchmark for the 2020 budget, Senior Economist at the private-sector-led think tank, Nigeria Economic Summit Group says the recent drop in crude prices if sustained has a possibility of leading Nigeria into an economic recession by 2021. Wilson Erumebor, Economist at the Nigerian Economic Summit Group joins CNBC Africa me for more.
During his Independence Day celebration broadcast, Nigeria’s President Muhammadu Buhari stated that his administration inherited a skewed economy, where the oil sector comprised of only 8 per cent of GDP but contributed 70 and 90 per cent of government revenue and foreign exchange earnings respectively. To analyse the President’s speech and assess Nigeria’s performance in the past 59 years – Kyari Bukar, Former Chairman of the Nigerian Economic Summit Group (NESG) and from Osun State, South West Nigeria, Professor and Former Presidential aspirant Remi Sonaiya joins CNBC Africa for more.
Nigeria's second-quarter GDP slowed to 1.94 per cent, according to recent figures from the National Bureau of Statistics (NBS). To discuss measures to drive inclusive growth in Nigeria, Laoye Jaiyeola, CEO of the Nigerian Economic Summit Group (NESG) joins CNBC Africa's Kenneth Igbomor for more.
Nigeria’s President Muhammadu Buhari is currently inaugurating the ministers-designate and will assign their respective portfolios today. Meanwhile Nigeria's ruling party, the All Progressive Party (APP) and main opposition, Peoples Democratic Party (PDP) will adopt the final address at the Presidential election tribunal today. To discuss these developing stories are Tilewa Adebajo, CEO of CFG Advisory and from Abuja, Kyari Bukar, former Chairman of Nigerian Economic Summit Group (NESG) both join CNBC Africa for more.
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