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Nigerian Economy Shrinks By N63bn, 28 Sectors Struggle

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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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Cleric Harps On Significance Of Thanksgiving

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The General Overseer of Firstlove Assembly and renowned preacher, Senior Pastor Simeon Afolabi, has highlighted the significance of thanksgiving, saying it remains one of the best ways to show gratitude to God, and also one of the ways to please God Almighty.
Pastor Afolabi gave the indication as the guest preacher at the annual thanksgiving celebration of Holy Hills Church in Port Harcourt last Saturday.
The 2025 Holy Hills Church annual thanksgiving, tagged, “Thanksgiving of God’s Mercies”, witnessed the gathering of christian faithful to celebrate God’s unwavering love and mercies despite insurmountable challenges.
The General Overseer said the essence of thanking God cannot be over-emphasised, considering the good things He is doing for mankind.
The renowned man of God said one of the ways to please God is not to take His act for granted but to thank Him for everything He has done.
He urged churches to endeavour to make thanksgiving their priority so as to attract more blessings from God.
Pastor Afolabi noted that gratitude is a way of God, hence, “it behooves us to do it every moment of the day,” and opined that the Holy Hills Church was on the right track by recognising God’s mercy and kindness through thanksgiving.
In his remarks, the General Overseer of Holy Hills Church and Chief Host, Pastor Sunny Ikonwa said the aim of the annual thanks- giving celebration was to thank God for His mercy, saying, the annual event which is like Christ Mass to his members could best be described as God’s faithfulness upon their lives.
He said the annuall meeting remains God’s project which the church attaches great importance to and ensures its success every year.
He noted that the church under him will continue to sensitise people and preach to them on the way of peace.
The cleric recalled that the church that started under a palm tree has made tremendous improvement by God’s grace.
Pastor Ikonwa said his mission which is doing what pleases his Maker remains his watchword.
The Holy Hills Church pastor said the mercy of God has been able to sustain his people, saying, the prayer of a Christian goes a long way to rekindle the heart of God, stressing that it is for this singular reason that the church had come in His presence with something measurable to it, as a way of showing appreciation.
According to him, anything big starts small just as his church has done.
He said to the glory of God, today, the church has been growing in His direction.
He, therefore, admonished Christians to have hope and faith in God in the face difficulties, urging the government to always put the interest of the people first, as it has everything it takes to make life meaningful for the citizenry.
Pastor Ikonwa noted that government should be able to implement policies geared towards bettering the lives of the people.
The climax of the programme was the cutting of the thanksgiving cake by the General Overseer and his wife .Various organs of the church also made special presentations to God.

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Police Confirm Death Of Two Officers In Imo, Finger IPOB

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The Nigeria Police Force has indicted the dreaded group, Indigenous People of Biafra (IPOB) over the killing of two police officers, and injuring of one civilian who was rushed to the hospital after sustaining bullet wounds in a coordinated attack in Imo State on June 11, 2024.
The State Police Command, had in a press release accused the Eastern Security Network (ESN), a wing of the Indigenous People of Biafra(IPOB) of being responsible for the killing of the two police officers and injuring of a civilian at Akabo community in Ikeduru Council Area of Imo State.
According to the police, the incident was perpetrated in the early hours of the day by the hoodlums. They attacked one Christian Ama Chukwu in front of his shop at 79, Umudike, Umunnemoche Abazu, Akabo in Ikeduru Local Government Area of Imo State.
Operatives of the Nigeria Police Force, engaged them in a prolonged gun battle and ultimately repelled the attack. Unfortunately, two police personnel lost their lives in the attack. An unnamed civilian was also critically injured in the attack,and he sustained serious injuries in the course of the shootout.
Some residents who spoke with newsmen said the hoodlums were first noticed alighting from their vehicles and harassing residents for not participating in the seat-in or seat-at-home protests. They said the situation got out of control when they opened fire on an approaching police vehicle.
Another eye witness, IfechukwuOpara, said the gunmen then moved around the village in the community,shooting sporadically to aid their escape. “They were driving around the community in a reckless manner while shooting in the air to scare people away before they finally left”, he said.
The Police Public Relations Officer (PPRO), Imo State Police Command, DSP Henry Okoye had confirmed the incident.
He described it as “a senseless, unwarranted and unprovoked act of violence which must not go unsolved.”
According to him, the police would not leave any stone unturned in the quest to arrest and prosecute the criminals.
Subsequently, the Imo State Commissioner of Police, Aboki Danjuma, had mobilised a Police Tactical Squad of the Command to track down the killers, and said, “As I am talking to you now, an intense operation is currently going on in Ikeduru Local Government Area with a view to apprehending the hoodlums responsible for the attack.”
DSP Okoye noted that killings were another painful and stark reminder of the sacrifices police officers make in the commitment to secure the country.

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‘Tinubu Committed To Environmental Sustainability, Benefits To Ogoni’

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As the Ogoni cleanup programme being implemented by the Hydrocarbon Pollution Remediation Project (HYPREP) continues to record significant milestones across thematic areas, the Federal Government says such gestures further demonstrate President Bola Tinubu’s commitment under the Renewed Hope Agenda to environmental sustainability and ensuring the Project brings benefits to Ogoni people.
The Minister of Environment, Malam Balarabe Abbas Lawal, who made this assertion during the commissioning of the Bane and Gwara water schemes in Khana Local Government Area of Rivers State, in line with HYPREP’s mandate to provide potable water to Ogoniland, said the provision of potable water is a critical step towards improving public health, reducing waterborne diseases and enhancing the overall quality of life.
The latest commissioning brings the water stations to 16, providing access to potable water to 45 Ogoni communities , a development the Minister explains as part of President Tinubu’s commitment to peace ,environmental justice and socio-economic empowerment in Ogoniland, a beacon of hope for communities long affected by environmental degradation.
Lawal noted that the latest commissioning is restoring hope and dignity to the communities long deprived of this essential resource .
‘’The provision of potable water is a critical step towards improving public health, reducing waterborne diseases and enhancing the overall quality of life. It also signifies a renewed commitment to ensuring that the people of Ogoniland reap the full benefits of environmental remediation efforts.We
will continue to ensure that communities in Ogoniland have access to clean, safe and sustainable drinking water. With this initiative, we are not just commissioning infrastructure but restoring hope and dignity to the communities long deprived of this essential resource”, he said.
While commending the Project Coordinator of HYPREP, Prof Nenibarini Zabbey, development partners, stakeholders and traditional rulers, among others for their relentless commitment towards the actualisation of these projects, he urged communities to protect and take ownership of the projects, emphasising that their longevity and effectiveness depend on their collective efforts of maintaining and protecting them for posterity.
In his speech at the event, the Project Coordinator of HYPREP, Prof Nenibarini Zabbey maintained that the Project remains resolute in its resolve to ensure that it completes and delivers all projects initiated within the time frame for the use and benefit of Ogoni people in line with the directives of the Governing Council and under the leadership of the Minister of Environment, Malam Balarabe Abbas Lawal.
To achieve this, Zabbey explained that “We
continue to work closely with community leaders, youth and women, contractors and other stakeholders to ensure solutions are identified and implementation continues smoothly.
‘’We remain guided by the principle of partnership, dialogue, transparency and accountability, knowing that sustainable progress is best achieved through collaboration and mutual understanding. That is the hallmark of HYPREP,” he said.
He appealed to the people to continue to reinforce peace and understanding, using dialogue as a vital tool for resolving disputes, especially around project sites and within communities, noting that the concurrent implementation of over 100 projects across Ogoniland reflects the seriousness and dedication of HYPREP, a momentum that must be sustained through mutual trust and collaboration.
For the Project Coordinator, the event was an ideal opportunity to provide a project status update to Ogoni people, as he excitedly announced the milestone achievements recorded so far to include environmental remediation-94 percent completion in Phase 1 of mangrove restoration; shoreline at 67.1percent; Phase 2 land remediation at 36.55 percent; potable water-14 completed water facilities inaugurated, supplying potable water to 40 Ogoni communities, while the commissioning of the Bane and Gwara water facilities last Saturday increased the number of communities with access to clean and safe water to 45.
Other milestones are the Centre of Excellence for Environmental Restoration (CEER) at 92 percent complete and the processes of operationalising the Centre has begun with the just concluded colloquium, while the Ogoni Power Project is progressing steadily with wayleave compensation and construction works at Bodo and Wiiyaakara substations ongoing. The Ogoni Specialist Hospital is at 76.8 percent with 98.7 percent achieved in the Buan Cottage Hospital. The Ogoni public study being conducted by the World Health Organisation’s (WHO) International Agency for Research on Cancer (IARC); over 7,000 women and youths have benefited from various employment opportunities, while over 5,000 have been trained in multiple skills and provided start-up skits, among other programmes.
Zabbey further hinted of the commencement of some demand-driven skills areas this quarter, which include cybersecurity, full-stack development, mud logging, software development, GIS and commercial diving.
In their separate goodwill messages, the member representing Khana/Gokana Federal Constituency in the House of Representatives, Rt Hon Dumnamene Deekor; Chairman,Great Green Wall, Senator Magnus Ngei Abe; Chairman, Board of Trustees, Ogoni Trust Fund Incorporated, Hon Emmanuel Deeyah; Permanent Secretary, Rivers State Ministry of Water Resources and Rural Development, MrNwizug Gordon; representative of the Managing Director/Chief Executive Officer, Renaissance Africa Energy Company Limited and General Manager, Relations and Sustainable Development, MrIgoWeli; former Secretary to Rivers State Government, Chief Kenneth Kobani; and former Rivers State Commissioner for Environment, Prof Roseline Konya; all commended the Minister of Environment and HYPREP for their commitment to the Ogoni cleanup programme.
Earlier, the Minister and his entourage had paid a courtesy call on Mene Bua Kenwigbara, King D.Y Barile, at his palace, where the former was conferred a chieftaincy title of MeneAnua Le Maa 1 of Ken-Khana Kingdom; and the Project Coordinator of HYPREP as Mene doo Letam 1 of Ken-Khana Kingdom.

Also decorated were the Chairman of Ogoni Trust Fund Incorporated, Hon Emmanuel Deeyah; and the Permanent Secretary, Federal Ministry of Environment, Mahmud Kambari.

Highpoints of the event were the formal commissioning of the Bane and Gwara water facilities by the Minister and the Managing Director/ Chief Executive Officer, Renaissance Africa Energy Company Limited, Engr Tony Attach,represented by MrIgoWeli; the symbolic issuance of education support Items;and the visit to the Ken Saro-Wiwa Memorial Park for symbolic tree planting by the Minister; the Project Coordinator; BoT Chairman; Senator Abe; IgoWeli; Director General, NEASRA, Prof Innocent Barikor; and Zina Wiwa, the daughter of the legendary environmentalist; and the visit to the CEER.

In two years, the Minister of Environment, has visited Ogoniland five times to commission 16 water stations, supplying potable water to 45 Ogoni communities and ensuring that other projects get equal attention, a clear demonstration of his unflinching commitment to the accelerated implementation of the Ogoni cleanup programme in line with Priority 3, Deliverable 3 of President Bola Ahmed Tinubu’s Renewed Hope Agenda and driven under the visionary and passionate leadership of Prof NenibariniZabbey as Project Coordinator.

By: Donatus Ebi

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