Business
Nigeria, Out Of Recession -NBS
The National Bureau of Statistics (NBS) on Monday restated that the country was out of recession.
The Head of Public Affairs and International Relations Unit, Mr Sunday Ichedi, said this in a statement in Abuja.
Ichedi was reacting to claims by some media organisations which suggested that the Statistician-General of the Federation and NBS, Dr Yemi Kale noted that the economy was still in recession.
“We want to emphasise and state categorically that the economy is out of recession and at no time did the NBS or its CEO state otherwise as has been reported.
“Recall that it was the same bureau that announced the end of recession in the second quarter of 2017.
“This followed the announcement of the first positive growth in the nation’s Gross Domestic Product (GDP) due to five quarters of contraction.
“Economic growth as measured by GDP has remained positive ever since (0.72 per cent, 1.17 per cent and 2.11 per cent in the second, third and fourth quarter 2017 and 1.95 per cent in the first quarter of 2018).
“The NBS has stated several times that the stages after an economic recession is an economic recovery where the economy moves gradually following the end of a recession toward sustainable strong growth.
“This is the stage of recovery that we are now and was alluded to by the statistician-general during his interview.
“That the economy is in the second stage of recovery, heading toward sustainable growth, which is the last stage cannot and should not be wrongly interpreted as the economy is still in a recession,” Ichedi 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.
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