News
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.”
News
Decentralizing Pipeline Surveillance Poses Greater Dangers To Niger Delta …. Group Warns
A group of Eminent persons from the Niger Delta region under the aegis of The Niger Delta Watch Dog has warned the Federal Government against yielding to the call to decentralize pipeline surveillance in the region.
The Eminent persons who said this in a press release made available to newsmen in Port Harcourt said those calling for decentralization of pipeline surveillance are ignorant of the dangers it poses to the peace and stability of the Niger Delta.
.They argued that the proposal poses significant risk to the peace security and economic stability of the region.
According to the release” While decentralization is often perceived as a means of promoting inclusivity and local participation, in this specific context it poses significant risks to peace, security, and economic stability.
It further said”evidence from community dynamics across the region suggests that decentralization will cause more harm than good, leading to increased conflict, fragmentation of authority, and heightened threats to critical national infrastructure.
“By contrast, the centralized model currently implemented by Tantita Security Services under the leadership of Government Ekpemupolo Tompolo has demonstrated measurable success in stabilizing the region, reducing conflict, and safeguarding Nigeria’s economic lifelines”
While describing the Niger Delta region as the backbone of Nigeria oil and gas, it added that any changes in policy will lead to crisis in the region.
“The Niger Delta region remains the backbone of Nigeria’s oil and gas industry, hosting extensive pipeline networks that are vital to national revenue and economic sustainability.
“Given the sensitive nature of this infrastructure, the framework through which pipeline security is managed must prioritize stability, coordination, and conflict prevention.
“Any policy shift particularly toward decentralization must therefore be carefully evaluated in light of the region’s socio-political realities”
It said
The release jointly signed by Chief Idowu Asonja ,Ellington Pokumo the Public Relations officer of the group Comrade Douye kojo Isoun and others,
said decentralization will lead to escalation of Inter-Community land dispute, intensifies rivalry between groups as well as heightens the struggle against Territorial control among others.
“Decentralizing pipeline security will likely intensify existing disputes between neighbouring communities as many communities in the Niger Delta have been involved in conflicts over Land ownership and territorial boundaries as well as Control of natural resources and
“Claims over oil pipelines passing through their territories” adding
“Such instability not only disrupts social harmony but also directly endangers pipeline infrastructure, increasing the risk of vandalism, sabotage, and production losses”
It said the gains recorded so far by the present centralization policy should be preserve as any shifts could wrecked havoc in the region.
“Any policy shift must preserve these hard-earned gains. At this time, decentralization presents a significant risk, while the current system continues to offer stability, security, and economic assurance for the nation.
“It is therefore strongly advised that the Federal Government of Nigeria carefully scrutinize and ultimately disregard calls for the decentralization of pipeline security contracts. “Available evidence and prevailing realities suggest that such calls may not be driven by the broader national interest, but rather by narrow, self-serving agendas that could reignite conflict within the region, this we know the Government does not need” the group said
News
RSIPA DG Unveils New Rivers Investment Pathway At BRACED Commission
The Director-General of the Rivers State Investment Promotion Agency (RSIPA), Dr. Chamberlain Peterside, has used the platform of the revived BRACED Commission to unveil investment opportunities and plans in Rivers State.
The BRACED Commission just bounced back and has already held a roundtable in Port Harcourt preparatory to an economic summit in the near future.
The roundtable featured the investment promotion agencies of the cooperating states: Bayelsa, Rivers, Akwa Ibom, Cross River, Edo, and Delta states.
Dr Peterside not only chaired the roundtable but made presentations for Rivers State economic landscape.
He hailed the rebound of the BRACED Commission which did well at the onset. “The governors of the region were one and united for one cause. Then, politics came and everything scattered. The agenda is simple, to integrate the economy of the region into one strong bloc.”
He admitted that Rivers State’s investment promotion agency is very young, plus six months in the limbo of state of emergency. “This thus is a very unique opportunity to get resurgent momentum.”
He listed the achievements of RSIPA in the short period since its establishment, saying it has received numerous investment proposals.
“We’ve engaged actively with the private sector, both those currently operating in the state and those intending to invest. We do realize the fact that investment begins from domestic investors. and you have to guide them.
“Through outreach programmes and establishment of a One-Stop-Center (OSC), we have created a streamlined system for addressing investor needs, supporting their business operations. For the first time in Rivers State, prospective investors and small and medium enterprises now have a centralized hub that can address their challenges and find solutions that enable them to thrive.”
He outlined the plans ahead thus: “One of our cardinal focuses at RSIPA is to enhance the operating climate and improve the ease of doing business.
“We are committed to creating a vibrant and business-friendly environment that attracts and retains investment. We are also working closely with other ministries, departments, and agencies to harmonize our activities.
“Collaboration for us is key; we see Rivers State as a single ecosystem where all stakeholders work together to support investment inflow and build a favorable environment for businesses to flourish.”
For the region, he lamented the situation whereby “the carpet is shifting under our feet. The IOCs (international oil corporations) have moved offshore. The issue before us now is how should the region act now. We should target big ticket investment proposals. This is because some proposals will involve other states. There is thus need to collaborate.”
He gave examples of projects that cannot be for one state. “Railway system is not for one state. At the moment, there is no railway line that links Benin to Port Harcourt to Calabar. BRACED can push this agenda.
“There is an oil route from Opobo to Akwa Ibom where Sterling Oil is operating. It’s a route of interest. Governor Sim Fubara wants us to synergise with other states economically. The best time is now because all the governors are now in one political party.”
He called on all the agencies in the BRACED states to sell the idea to their governors.
“Let the governors know that BRACED task is not a competition but as a collaboration. We have the Niger Delta Development Commission (NDDC), the South-South Chambers of Commerce, Industry, Mines and Agriculture (SSCCIMA), the Niger Delta Chambers of Commerce, Industry, Trade, Mines, and Agriculture (NDCCITMA), etc. This is the ripest time to strike the iron.”
The Director General of the Bayelsa Investment Promotion Agency (BIPA), Mrs. Patience Ranami Abah, also shook the floor when she presented what she termed ‘Closing the Value Capture Gap’.
She showed how the states will win bigger by playing together to present an economic front.
David Franklin, a deputy director, who represented the Permanent Secretary, Federal Ministry of Industry, Trade, and Investment, Abuja, said investment in people is the beginning of prosperity.
“The South-South is the hub of power of Nigeria due to the hydrocarbon industry, blue economy, agriculture, tourism, etc.”
The Director General, BRACED Commission, Amb.Joe Keshi, in his welcome remarks, said the roundtable was themed around synchrosnising investment frontiers in a strategic framework for south-south economic integration.
The roundtable ended with a communique that recommended setting up a monitoring committee, and other organs to drive integration and investment.
Some of the key resolutions in the Communique issued at the end of the two-day symposium included the call for a BRACED Investment Promotion Charter with a harmonized Regional Investment Promotion Framework and a roadmap.
The Communique called for infrastructure alignment, uniform economic reforms, human capital development plan, and a technical oversight group.
The communique urged state governments, investors, and development partners to collaborate in transforming the BRACED states into a beacon of economic dynamism.
News
Easter: DHQ Orders Troop Alert, Confirms US Support
The Defence Headquarters has placed troops on nationwide alert ahead of the Easter celebrations, assuring Nigerians of tightened security.
The DHQ also reaffirmed that ongoing support from the United States is strengthening counter-terrorism operations, with a visible impact expected in the coming weeks.
Addressing journalists during the end-of-the-month briefing on Tuesday in Abuja, the Director, Defence Media Operations, Maj Gen Michael Onoja, assured citizens of heightened vigilance by troops during the Easter celebrations.
Onoja said the Armed Forces had already placed personnel on alert nationwide to prevent any security breach during the holiday period.
He added that similar measures were implemented during previous festive seasons, including Christmas and Eid-el-Fitr, and would be sustained.
“We know that festive seasons usually have heightened security activities. The military command gives instructions to ensure all personnel are on alert. This time will not be different,” he said.
He emphasised that security agencies would not relax despite the celebrations, noting that adversaries often attempted to exploit such periods.
“I can assure you that we will always be on alert, particularly at this period of festivities, because we know that the threats expect us to relax.
“But we are not going to relax. Everything will be okay for this Easter,” he added.
Speaking on the ongoing collaboration with the US forces, Onoja said the impact of the collaboration may not be immediately visible due to the nature of military engagements, but expressed confidence that the benefits would become evident in the coming weeks and months.
He said the U.S. support to Nigeria’s operations had been significant, particularly in the areas of intelligence sharing and training, noting that the assistance was being provided on favourable terms to strengthen ongoing counter-threat operations.
According to him, “You are aware that they are bringing intelligence and training support to us, which we need. They are giving that to us on very favourable terms. There are lots of things I cannot say because of confidentiality.”
He added that the intelligence being provided included information on the location of threats and hostile elements, stressing that Nigerian troops would act accordingly.
“All we can say is that these things take time. There is a gestation period when we are conducting military operations.
“You will not see it immediately, but in the next few months or weeks, you will feel the difference in the impact of the assistance that the U.S. is providing,” Onoja stated.
On February 16, 2026, DHQ confirmed the arrival of approximately 100 US military personnel and equipment at Bauchi Airfield.
According to the military high command, the personnel, who are not combat troops, were in Nigeria strictly for technical assistance, training, and advisory roles in counter-terrorism efforts.
However, insecurity has continued to surge in several parts of the country since their deployment, raising concerns about the effectiveness of the collaboration.
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