Nigeria is currently experiencing it worst economic recession in three decades, WAP can report. According to the gross domestic product numbers released by the National Bureau of Statistics on Saturday, the nation recorded a contraction of 3.62 percent in the third quarter of 2020. This is the second consecutive quarterly GDP decline since the recession of 2016. The cumulative GDP for the first nine months of 2020, therefore, stood at -2.48 percent. The last time...

The consumer price index, (CPI) which measures inflation in Nigeria has risen to 14.23 percent, says a report recently published by the the National Bureau’s of Statistics (NBS). The report shows that the new inflation is 0.52 percent points higher than the rate recorded in September 2020. The rate as at then was 13.71 percent. The figures also reveals that inflation rose by 1.54 percent between September and October and 1.48 percent  between September and...

The International Monetary Fund says the activities surrounding the #ENDSARS protest may disrupt the already documented Nigeria’s growth projection. The organisation said it had already finished collecting its data but the projection will depend largely on how the protest evolves. The Fund’s Director, African Department, Abebe Selassie disclosed this while responding to questions during the virtual IMF press conference on the regional economic outlook for Sub-Saharan Africa on Thursday. “On the growth projections in Nigeria,...

Budget of Economic Recovery and Resilience  Delivered By: His Excellency, President Muhammadu Buhari President, Federal Republic of Nigeria At the Joint Session of the National Assembly, Abuja  Thursday, 8th October 2020 PROTOCOLS It is with pleasure that I present the 2021 Federal Budget Proposals to this Joint Session of the National Assembly. Distinguished and Honourable Leaders, and Members of the National Assembly, at this juncture, I wish to commend your tremendous efforts in approving the revision...