Business
Expert Calls For Policy Framework On GDP Growth
An economist, Dr Aminu
Usman, has advised the Federal Government to evolve a policy framework to address the negative Gross Domestic Product (GDP) growth of the economy.
Usman, a lecturer in the Department of Economics, Kaduna State University, gave the advice in an interview with newsmen in Abuja on Saturday.
The don, while reacting to the Nigerian GDP Report for Ist quarter of 2016 recently released by the National Bureau of Statistics (NBS), said that the economy needed urgent attention.
According to the report, GDP slowed by -0.36 per cent year-on-year in real terms in the first quarter of 2016.
The Bureau said that the GDP was lower by 2.47 per cent points from the growth recorded in the preceding quarter.
It said it was also lower by 4.32 per cent points from growth recorded in the corresponding quarter of 2015.
The don, however, said that the economy, which is going through recession, would be moving toward depression if appropriate actions were not taken to address the economic crisis.
The report said that quarter on quarter, real GDP slowed by 13.71 per cent during the quarter, while aggregate GDP stood at N22,262,575.97 million (in nominal terms) at basic prices.
“Compared to the First Quarter 2015 value of N21, 041,701. 10 million, nominal GDP was 5.80 per cent higher.
“Nominal GDP growth was, however, lower relative to levels recorded in 4th quarter of 2015 by 14.15 per cent points,’’ it said.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
Business
NIS Ends Decentralised Passport Production After 62 Years
Business
FG To Roll Out Digital Public Infrastructure, Data Exchange, Next Year
-
Maritime3 days ago
Minister Tasks Academy On Thorough-Bred Professionals
-
Maritime3 days ago
Customs Cautions On Delayed Clearance, Says Consignees May Lose Cargo
-
Maritime3 days ago
Lagos Ready For International Boat Race–LASWA
-
Maritime3 days ago
NCS Sensitises Stakeholders On Automated Overtime Cargo Clearance System
-
Maritime3 days ago
Shoprite Nigeria Gets New Funding to Boost Growth, Retail Turnaround
-
Politics3 days ago
I Would Have Gotten Third Term If I Wanted – Obasanjo
-
Sports3 days ago
Bournemouth, Newcastle Share Points
-
Sports3 days ago
Zidane’s Son Switches Allegiance To Algeria