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Nigerian Economy Shrinks By N63bn, 28 Sectors Struggle
No fewer than 28 sectors of the economy declined in the second quarter of 2022 as real Gross Domestic Product (GDP) shrunk by N63.49billion quarter-on-quarter.
While real GDP grew by 3.54per cent year-on-year in Q2 2022, it declined by 0.37per cent from the N17.35trillion that was recorded in the first quarter of 2021 to N17.29trillion in Q2, 2022, the National Bureau of Statistics (NBS)data revealed.
The NBS blamed this decline on lower economic activity that was witnessed in Q1 2021.
The analysis of real GDP data revealed that only 18 of the 46 NBS captured economic activity sectors experienced growth in the quarter under review.
According to the data from the statistics body, the agriculture sector witnessed mixed positives, with two sub-sectors witnessing growth and the other two recording a decline.
Crop production grew from N3.39trillion to N3.59trillion; livestock declined from N318.49billion to N282.02billion; forestry grew from N44.14billion to N51.28billion; while fishing declined from N125.46billion to N88.3billion.
In the mining and quarrying sector, crude petroleum and natural gas declined from N1.15trillion to N1.09trillion; coal mining grew from N1.61billion to N4.79billion; metal ores declined from N4.87billion to N1.26billion; and quarrying other minerals grew from N363.29million to N25.51billion.
The 2022 has been a tough year for the manufacturing sector with inflation and foreign exchange scarcity negatively impacting growth.
Only three of the 13 subsectors in the manufacturing sector recorded any growth in the quarter under review.
Oil refining grew from N1.66billion to N2.82billion; cement declined from N188.81billion to N143.74billion; food, beverage and tobacco declined from N875.94billion to N760.08billion; textile, apparel, and footwear declined from N342.48billion to N283.34billion; wood and wood products declined from N53.81billion to N44.41billion; whereas pulp, paper, and paper products declined from N13.38billion to N9.70billion.
Chemical and pharmaceutical products grew from N42.75billion to N47.37billion; non-metallic products declined from N63.52billion to N49.24billion; plastic and rubber products declined from N60.12billion to N53.01billion; electrical and electronics increased from N839.34million to N921.50million; basic metal, iron and steel declined from N39.93billion to N37.31billion; motor vehicles and assembly declined from N9.53billion to N7.63billion; and other manufacturing declined from N76.07billion to N55.55billion.
The electricity, gas, steam and air conditioning supply sector grew from N32.72billion to N118.79billion.
The water supply, sewerage, waste management and remediation sector grew from N39.06billion to N61.12billion.
Construction declined from N725.99billion to N554.11billion.
The trade sector grew from N2.79trillion to N2.91trillion.
Accommodation and food services also recorded a decline from N173.41billion to N68.17billion.
Under the transportation and storage sector, road transport grew from N151.97billion to N293.85billion; rail transport and pipelines declined from N40.96million to 19.92million; water transport increased from N802,77million to N1.04billion; air transport declined from N25.26billion to N9.69billion; transport services grew from N7.11billion to N11.14billion; and post and courier services declined from N6.26billion to N2.42billion.
Seen as one of the bright spots of the economy, telecommunications and information services under the information and communication sector grew from N2.25trillion to N2.59trillion; publishing declined from N5.45billion to N4.66billion; motion pictures, sound recording and music production declined from N229.67billion to N157.57billion; and broadcasting grew from N330.47billion to N433.43billion.
The arts, entertainment and recreation sector declined from N35.69billion to N51.85billion.
In the financial and insurance sector, the financial institutions subsector declined and insurance declined from N85.11billion to N80.18billion.
The real estate sector was one of the sectors that shrunk, declining from N927.32billion to N920.49billion.
The professional, scientific and technical services sector fell from N560.47billion to N525.94billion; administrative and support services grew from N3.39billion to N3.54billion; public administration also grew from N283.59billion to N375.59billion, but education fell from N333.06billion to N231.85billion.
While the other services sector declined from N702.74billion to N473.72billion, the human health and social services sector increased from N126.01billion to N131.28billion.
In a statement addressing the general GDP, the Founder/Chief Executive Officer, Centre for the Promotion of Private Enterprise, Dr Muda Yusuf, disclosed that productivity and competitiveness issues had continued to negatively impact performance across sectors of the economy.
He stated that the general operating environment of the nation was also very challenging for most investors, with SMEs particularly more vulnerable to prevailing macroeconomic shocks, resulting in high mortality rate for small businesses.
He said, “Many businesses are struggling to cope with the numerous challenges and shocks to the economy. On the welfare front, the citizens are also experiencing serious economic hardship as a result of the galloping inflation and the impact on purchasing power.”
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RSG Reaffirms Commitment To Quality Education
News
RSUBE Holds Training For 1,000 New Teachers
The Rivers State Universal Basic Education Board (RSUBE) has trained 1,000 newly recruited teachers with a view to raising standards in public primary and junior secondary schools in the state.
The two-day orientation and capacity building programme held in Port Harcourt introduced the teachers to civil service rules, classroom management practices, and professional conduct expected of educators in the state.
The State Commissioner for Education, Dr. Peters Nwagor, told the newly recruited teachers that teaching demands more than academic qualifications, and called for discipline, diligence, and a strong commitment to service.
He described teaching as a noble profession that is central to the development of the state.
The recruitment, he said, reflects the government’s investment in children and long-term development.
“Education is the foundation of societal progress, and basic education is where that foundation is laid,” Nwagor stated.
He urged the teachers to shape the values and character of pupils during their most formative years.
He pledged continued support from the Ministry of Education through training, resources, and an environment that allows teachers to perform effectively.
Nwagor directed RSUBEB to reject transfer requests from rural to urban schools, saying the newly employed teachers have an obligation to serve where they are posted and help strengthen education in those communities.
In his opening remarks, the RSUBEB Chairman, Hon. Sam Oge, explained that the recruitment process began in 2023 under the previous board, adding that after assuming office, he consulted widely and secured Governor Siminalayi Fubara’s approval to complete the exercise.
Oge said the selection was competitive, with 1,000 candidates chosen from more than 5,000 applicants, and urged the teachers to treat the opportunity seriously and avoid lobbying for reposting.
He directed the teachers to resume at their assigned schools immediately, saying request for reposting will not be entertained.
The former RSUBEB Chairman, Ven. Dr. Fyneface Akah, who delivered the keynote address, described the orientation as the teachers’ formal entry into the civil service.
He urged them to be creative, purposeful, and open to learning on the job.
Akah stressed that teachers have a role in restoring values lost to moral decline, and urged them to model national values and see their work as a calling with lasting impact on the society.
He thanked the State Government for approving the recruitment, noting that the exercise will improve access to quality basic education across the State.
Akujobi Amadi
News
INEC To Deploy 1.4m Corps Members For 2027 Elections
The Independent National Electoral Commission (INEC) has disclosed that no fewer than 1.4 million members of the National Youth Service Corps will be deployed for the 2027 general elections.
The Chairman of the commission, Prof Joash Amupitan (SAN), made this known on Monday during a courtesy visit to the Director-General of the NYSC, Brig Gen Olakunle Nafiu, at the Yakubu Gowon House, headquarters of the scheme, in Abuja.
Amupitan, in a statement signed by his Chief Press Secretary and Media Adviser, Adedayo Oketola, described the meeting with the NYSC senior management team as more than a formal courtesy visit, saying it was also a mission of gratitude.
According to him, the NYSC remains a critical pillar in Nigeria’s democratic process.
He noted that corps members had participated in virtually every election cycle since 1999, stressing that, “INEC cannot conduct elections in Nigeria without the NYSC.
“As the Chairman of the Independent National Electoral Commission, I am honoured to discuss our collaborative efforts toward ensuring seamless and credible elections in Nigeria.
“You provide the heartbeat of our field operations. When we speak of election manpower, we are essentially speaking of corps members.
“They are the most dedicated, educated and patriotic election duty staff we have, and their presence at polling units brings a level of neutrality and public confidence that is irreplaceable.
“They form the backbone of our election processes, especially as ad hoc staff, whose dedication, discipline and patriotism are critical to the success of our elections,” he added.
Amupitan said institutional data from the 2023 general election showed the importance of the partnership between INEC and the NYSC.
He explained that INEC deployed about 1.2 million ad hoc staff for the 2023 elections, with over 70 per cent, nearly 850,000 personnel drawn from corps members and student volunteers.
Speaking on preparations for the 2027 elections, the INEC chairman said more than 1.4 million ad hoc staff would be engaged, with corps members making up the majority.
“For the 2027 general election, we will require 707,384 ad hoc staff for the Presidential and National Assembly elections scheduled for January 16, 2027.
“The same number will be needed for the governorship and Houses of Assembly elections on February 6, 2027, making a total of 1,414,768,” he said.
He added that INEC would also require 52,446 corps members for the Ekiti and Osun governorship elections, as well as by-elections in Nasarawa, Enugu, Rivers, Ondo, Kebbi and Kano states.
Amupitan said corps members accounted for nearly 90 per cent of Registration Area Officers and Presiding Officers in many states during previous elections.
“These young Nigerians did not just facilitate voting; they protected the sanctity of the ballot in 176,846 polling units across some of the most difficult terrains in the country,” he said.
He further praised the corps members for their role in off-cycle elections, particularly the Anambra governorship election and the FCT Area Council polls.
According to him, their digital proficiency contributed significantly to the seamless operation of the Bimodal Voter Accreditation System.
“In those exercises, it was the digital proficiency of corps members that ensured the seamless performance of our BVAS, proving they are the tech-savvy backbone of our modern democracy,” he added.
Amupitan acknowledged the sacrifices made by corps members during elections and assured that INEC would continue to work with the NYSC and security agencies to strengthen safety measures and welfare packages for them.
As the 2027 general election approaches, we are committed to ensuring adequate mobilisation and preparedness of NYSC members for this important national assignment,” he said.
He also noted that the Ekiti and Osun governorship elections, scheduled for June 20 and August 15, respectively, alongside several by-elections, would serve as tests for innovations ahead of the 2027 elections.
Responding, Brig. Gen. Nafiu thanked INEC for its continued collaboration with the scheme.
He recalled that the Memorandum of Understanding between both organisations was signed in 2011 and had been periodically renewed.
Nafiu described corps members as credible, reliable and easily trainable manpower.
“The last batch of millennials will soon exit the scheme, leaving behind Gen Z corps members known for their digital savviness, which will benefit INEC,” he said.
He assured the commission of the NYSC’s continued support in both the 2027 general elections and upcoming off-cycle elections.
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