The current economic recession in Nigeria is affecting not just the country but other countries in West Africa.

Speaking on this Mr Marcel de Souza, the President of the ECOWAS commission, said that the recession being experienced in Nigeria has a negative impact on the sub-region’s overall economic performance.
While presenting the community status report at the ongoing second ordinary session of the ECOWAS Parliament in Abuja on Tuesday, October 4, De Souza who was represented by the commission’s vice president, Mr Edward Singhateh revealed this.

He also revealed how Nigeria’s recession was affecting the general Gross Domestic Product (GDP), saying that the sub-region’s GDP had declined to three per cent in 2016 from 5.6 per cent in 2013.
Since Nigeria’s economy represents two thirds of the sub-region’s GDP, this was to be expected. He also explained that Nigeria’s GDP had dropped to 2.3 per cent in 2016 from 5.4 per cent in 2013, one of the lowest in the sub-region.

Speaking on the reason behind the reduction, De Souza explained that the drop in Nigeria’s growth rate was due to the reduction in oil prices.

He said that The Gambia also had a reduction in its growth rate to 2.3 per cent from 4.8 per cent in 2013. Liberia and Cape Verde, he said, had a growth rate of 2.5 and 2.9 per cent respectively from 8.1 and one per cent respectively.

Cote d’Ivoire was the member state with the highest growth rate from 9.3 per cent in 2013 to 9.8 per cent in 2016. While some other member states have experienced a growth rate of between 4.5 per cent and 6.6 per cent in 2016 against 3.3 per cent to 13 percent in 2013.

Speaking on Sierra Leone, he said: “The decline in Sierra Leone’s growth rate from 13 per cent to 21.5 per cent was mainly due to the negative impact of the Ebola Virus Disease on the country.’’

Meanwhile, the Economic Community of West African States (ECOWAS), Court of Justice has declared the arrest and detention of former national security adviser Sambo Dasuki by the Nigerian government as unlawful. The court also ordered that a fine be paid to Dasuki.

Ruling on the case brought against the federal government before it by Dasuki over his continued detention on Tuesday, October 4, the court said the government’s action was arbitrary and anti-democratic.

Source: https://www.naij.com/994737-read-nigerias-economic-recession-affecting-west-africa.html?source=index_main

OK o

O

Nigeria sneezes , west Africa catches cold.... That's how it has always been & no gainsaying, that is how it will remain..


If we aren't buying woodin and the crude bleaching formulas from Cote D'ivoire, we are in senegal buying overpriced boubou or in Ghana trucking in trailer loads of Daviva/Akosombo ankara on an intermittent basis...

Benin Republic is virtually naija's 36th state, Togo's textile industry depends on this nation's patronage, and there are more examples of inter dependent commercial eendeavous... If naija isn't playing, WA isn't balling.

The lion (giant) of Africa is sick and the other animals (countries) are in tremble.
I hope the lion makes a quick recovery lest the animal kingdom suffers habitual collapse.

Luckymay:
The lion (giant) of Africa is sick and the other animals (countries) are in tremble.
I hope the lion makes a quick recovery lest the animal kingdom suffers habitual collapse.

u think naija will get out of this present state with this over bloated, egotistic Brain dead leaders at the helm of power wake up man.

This is what I was telling someover zealous Biafra chaps in other thread of ECOWAS's court ruling, but the Ignorami were hellbent on saying otherwise

lol
lol I now get it. so ECOWAS because of that now trying to release all the criminals in Nigeria just to get back at FG abi . they are trying.

Nigerians would use this to beat their nonsense chests.

So the acclaimed 'Giants of Africa' picked a certificate-less ex-military general out of the over millions of qualified citizens it had? Citizens with brilliant ideas and passion... All because of Sentiment to political parties.
Now the woes of their actions not only affect them and their children, but also the countries they're in league with.


Cool!

I hope the so-called youths are watching...

How Buhari's policy is affecting West Africa. - ECOWAS

Buhari why?

EmoBoy:
Nigerians would use this to beat their nonsense chests.

pride + empty stomach

ECOWAS that gworo chewer from duara is to blame

When the elephants fall , the whole forest is shaken!

Mr. Buhari must act fast to redeem his name.

modath:
Nigeria sneezes , west Africa catches cold.... That's how it has always been & no gainsaying, that is how it will remain..


If we aren't buying woodin and the crude bleaching formulas from Cote D'ivoire, we are in senegal buying overpriced boubou or in Ghana trucking in trailer loads of Daviva/Akosombo ankara on an intermittent basis...

Benin Republic is virtually naija's 36th state, Togo's textile industry depends on this nation's patronage, and there are more examples of inter dependent commercial eendeavous... If naija isn't playing, WA isn't balling.

You clearly stated what these Countries are to Nigerians!

Buhari sealed off border to create internal production . Nigerians are now making their own rice n raw materials. no constant importation of second hand materials . so ofcoz other Africa should feel the heat

modath:
Nigeria sneezes , west Africa catches cold.... That's how it has always been & no gainsaying, that is how it will remain..


If we aren't buying woodin and the crude bleaching formulas from Cote D'ivoire, we are in senegal buying overpriced boubou or in Ghana trucking in trailer loads of Daviva/Akosombo ankara on an intermittent basis...

Benin Republic is virtually naija's 36th state, Togo's textile industry depends on this nation's patronage, and there are more examples of inter dependent commercial eendeavous... If naija isn't playing, WA isn't balling.

I can almost touch the ego in you comment. On the flip side, all you've said is the more reason why we need to get our acts right as a country.

EmoBoy:
Nigerians would use this to beat their nonsense chests.

YOU want CHANGE, CHANGE YOU got

Where ever Nigeria goes Africa goes
Nigeria shall raise again

Amid all these crises rocking the west Africa nations, one country is still defying the odds and making good stride in its economic indices -Cote D'Ivoire. Does anyone knows why?

The administration should be adviced to further devalue the naira and drop interest rate below 5.0% to enjoy economic growth

Nawa o.

listen to my songs at http://my.notjustok.com/p/oracle/

modath:
Nigeria sneezes , west Africa catches cold.... That's how it has always been & no gainsaying, that is how it will remain..


If we aren't buying woodin and the crude bleaching formulas from Cote D'ivoire, we are in senegal buying overpriced boubou or in Ghana trucking in trailer loads of Daviva/Akosombo ankara on an intermittent basis...

Benin Republic is virtually naija's 36th state, Togo's textile industry depends on this nation's patronage, and there are more examples of inter dependent commercial eendeavous... If naija isn't playing, W.A isn't balling.

GBAM!!!

legendarystar:



u think naija will get out of this present state with this over bloated, egotistic Brain dead leaders at the helm of power wake up man.

Thats wat peeps here fail to grab. Recession no be for mouth. If the present dullard in that white house doesn't do a 360 degrees and take new policies up this recession won't end soon. I sabk say im problem na say dem policies way im no won use na the ones he initially suspended out of slight to previous administration but nigeria is much bigger than one man's arrogance.