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Nigeria Exits Recession As GDP Grows By 0.11% In Q4 2020

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The National Bureau of Statistics (NBS), says Nigeria’s Gross Domestic Product (GDP) grew by 0.11 per cent in Quarter Four (Q4) 2020, from the 6.11 per cent contraction in Q3, signalling a gradual recovery from recession.
The NBS said this in the Nigerian Gross Domestic Product (GDP) Report (Q4 and Full Year 2020) released on its website, yesterday, in Abuja.
The bureau said this represented the first positive quarterly growth in the last three quarters.
“Though weak, positive growth reflects the gradual return of economic activities following the easing of restricted movements and limited local and international commercial activities in the preceding quarters.
“As a result, while the Q4 2020 growth rate was lower than the growth rate recorded the previous year by –2.44 per cent, it was higher by 3.74 per cent compared to Q3 2020.
“On a quarter-on-quarter basis, real GDP growth was 9.68 per cent indicating a second positive consecutive quarter-on-quarter real growth rate in 2020, after two negative quarters,” the report noted.
The NBS said overall, in 2020, the annual growth of real GDP was estimated at –1.92 per cent, a decline of –4.20 per cent when compared to the 2.27 per cent recorded in 2019.
It said in the quarter under review, aggregate GDP stood at N43.564billion in nominal terms.
This performance, the bureau said was higher when compared to Q4 2019, which recorded a GDP aggregate of N39.577billion, representing a year-on-year nominal growth rate of 10.07 per cent.
The NBS classified the Nigerian economy into the oil and non-oil sectors.
For the oil sector, in Q4, the average daily oil production of 1.56 million barrels per day (mbpd) was recorded.
This was lower than the daily average production of 2.00 mbpd recorded in the same quarter of 2019 by -0.44 mbpd and Q3 2020 by –0.11 mbpd.
It added that real growth of the oil sector was –19.76 per cent (year-on-year) in Q4 indicating a decrease by –26.12 per cent relative to the rate recorded in the corresponding quarter of 2019.
“Growth decreased by –5.87 per cent when compared to Q3 2020, while quarter-on-quarter, the oil sector recorded a growth rate of –26.27 per cent in Q4.
“For 2020, the oil sector grew at –8.89 per cent compared to 4.59 per cent in 2019,” the report stated.
It added that the oil sector contributed 5.87 per cent to total real GDP in Q4, down from the corresponding period of 2019 and the preceding quarter, where it contributed 7.32 per cent and 8.73 per cent respectively.
The nation’s non-oil sector grew by 1.69 per cent in real terms in Q4 2020, slower than the 2.26 per cent recorded in the corresponding quarter of 2019, the NBS said.
It, however, said it was better than the –2.51 per cent growth rate recorded in the preceding quarter.
The NBS added that for the full year of 2020, the non-oil sector grew by –1.25 per cent compared to 2.06 per cent in 2019.
It said growth in the sector was driven by information and communication (Telecommunications and Broadcasting).
Other drivers were agriculture (crop production), real estate, manufacturing (food, beverage and tobacco), mining and quarrying (quarrying and other minerals) and construction, accounting for positive GDP.
“In real terms, the non-oil sector contributed 94.13 per cent to the nation’s GDP in Q4 2020, higher than the share recorded in Q4 2019 (92.68 per cent) and Q3 2020 (91.27 per cent).
“For 2020, the non-oil sector contributed 91.84 per cent to real GDP, higher than 91.22 per cent recorded in 2019,” the NBS report said.
The bureau explained that Quarterly National Accounts (QNA) were an integrated system of macroeconomic accounts designed to describe the entire system of production in a nation on a quarterly basis.
They provide a picture of the current economic status of an economy on a more frequent basis than Annual National Accounts (ANA).
In providing a reasonable level of detailed information of the economy, QNA allows the government to regularly access, analyse, and monitor economic developments.

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Forum Expresses Confidence In APC Candidates’ Performance In Rivers

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The Rivers State chapter of the All Progressives Congress Christian Leaders Forum has expressed strong confidence in the capacity of All Progressives Congress (All Progressives Congress) candidates in the state to deliver effective governance if elected into office in the coming elections.
The State Coordinator of the forum, Archbishop Lucky Aroh, made this known during a breakfast and thanksgiving meeting held in Port Harcourt, where leaders gathered to pray for the stability of the party and the safety of its candidates ahead of the 2027 general elections.According to him, the meeting was convened to seek divine intervention for peace, unity, and security among APC candidates across Rivers State.
“Today we are praying for APC stability in Rivers State and the security of our candidates that have been elected to contest the 2027 elections. It is a breakfast meeting,” Aroh said.
He further expressed optimism that the party’s candidates would not disappoint the people if entrusted with leadership responsibilities.
“They will not fail when elected into office. We are here as fathers of the land to let them know, and I must tell you the truth that these are the authentic people that will do well in Rivers State,” he added.
Speaking earlier, the National Chairman of the forum, Professor Olanrewaju Abraham, commended the Rivers State chapter for organizing the programme, noting that the national body of the forum believes strongly in the power of prayer.
He stated that political leadership provides an opportunity to influence society positively, including advancing moral and spiritual values, while expressing confidence that APC candidates at all levels would emerge victorious in the upcoming elections.
Also speaking, the Rivers State Women Leader of the APC, Hon. Darling Amadi, praised the forum for its commitment to prayers for peace, stability, and the protection of party candidates.
Represented by the Deputy Women Leader of the party in the state, she described the initiative as commendable and urged other political and support groups within the party to emulate the gesture in promoting unity and stability.

By: John Bibor, Menebe Emmanuel & Fortune Paibi

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Okafor, Eminent Nigerians Celebrate Osagwe-Ogo At 70

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Prominent businessman and philanthropist, Elder Anthony Osagwe-Ogo, was celebrated in grand style as he marked his 70th birthday anniversary, with distinguished Nigerians, business leaders, and golf enthusiasts gathering to honour his remarkable contributions to society.
The colourful celebration took place at the Port Harcourt Golf Club, where friends, associates, and well-wishers converged to pay tribute to the revered elder statesman.
Chairman of the occasion, High Chief (Dr.) Ikenna Okafor, described the celebrant as a detribalised Nigerian whose generosity, humility, and commitment to humanity have earned him admiration across different communities and backgrounds.
According to Dr. Okafor, Pa Osagwe-Ogo’s impact on society and the development of his community remains unparalleled. He noted that members of the golfing community are proud to be associated with a father figure who consistently promotes the welfare and well-being of those around him.
He further stated that the history and growth of the Port Harcourt Golf Club cannot be told without acknowledging the significant role played by the celebrant, whose wisdom, encouragement, and leadership have helped sustain the club over the years.
“We are here to celebrate a man who has impacted humanity positively, a peace-loving individual and an epitome of hope for the younger generation. We pray to emulate his virtues. Today, we celebrate a bridge-builder, a trailblazer, and an iconic leader whose life continues to inspire many,” Dr. Okafor said.
He expressed delight at the large turnout of guests from various walks of life, describing it as a testament to the respect and affection Pa Osagwe-Ogo commands within and beyond Rivers State.
In his response, the celebrant, Pa Anthony Osagwe-Ogo, expressed profound gratitude to God for preserving his life and granting him the privilege of attaining the milestone age of 70.
He also thanked members of the Port Harcourt Golf Club, family members, friends, and associates for identifying with him during the celebration and for their unwavering support over the years.
The event featured the cutting of the birthday cake, presentation of awards to deserving members of the club, goodwill messages, and moments of celebration among guests.
The ceremony was attended by notable personalities from the business community, the golfing fraternity, and other sectors, all of whom joined in celebrating the life and legacy of the respected elder statesman.

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Fubara Commended For Sustaining Peace In Rivers As Sirawoo Receives Democracy Day Recognition

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Rivers State Governor, Sir Siminalayi Fubara, and the Permanent Secretary of the Rivers State Ministry of Information and Communications, Dr. Honour Kuru Sirawoo, have been honoured with awards of recognition in connection with the 2026 Democracy Day celebrations held in Port Harcourt.
The awards, which formed part of activities marking Nigeria’s Democracy Day on June 12, were formally presented on Tuesday at the Ministry of Information and Communications in Port Harcourt.
Presenting the awards was Hon. Abdul Hameed Oladipupo Alli, popularly known as “Mr. Nigeria,” Publisher of Asiwaju Trumpet Magazine and Achievers World International Magazine.
Governor Fubara was recognised for his efforts in sustaining peace, stability, and a conducive political atmospherJohn Bibor / Menebe Emmanuel / Fortune Paibie in Rivers State. The organisers noted that his administration has fostered harmony and strengthened civic participation across the state.
Dr. Sirawoo, on the other hand, was honoured for his exemplary administrative leadership and significant contributions to effective information management within the Ministry of Information and Communications.
Representing Dr. Sirawoo at the presentation ceremony, Dr. Christian Davies received the award on his behalf and expressed gratitude for the recognition. He described the honour as a reflection of Dr. Sirawoo’s unwavering commitment to professionalism, excellence, and dedicated public service.
Dr. Davies assured the organisers that the award would be formally conveyed to the Permanent Secretary.
The event also featured the presentation of commemorative publications highlighting major governance and civic milestones in Rivers State, including Easter celebrations, Workers’ Day activities, the Governor’s third anniversary in office, and Democracy Day programmes.
Organisers of the awards commended the Rivers State administration for what they described as sustained peace, political stability, and improved civic engagement, noting that these achievements have contributed significantly to the state’s continued development.

By: Jessica Sambol

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