The National Bureau Statistics said on Tuesday, that the Nigerian economy remains in its worst recession in 29 years.

The NBS confirmed this in its release of the gross domestic product (GDP) report for the first quarter of 2017, which showed that the economy contracted by 0.52 percent year-on-year.

In August 2016, NBS called Nigeria’s first recession since the return of democracy in 1999, stating that the economy shrank by 2.06 percent in the second quarter of 2016 to hit its lowest point in nearly three decades.

According to World Bank data, the last time Nigeria had this magnitude of economic decline was under the military regime of Ibrahim Babangida, when the economy recorded consecutive decline of 0.51 percent and 0.82 percent in first and second quarters of 1987.

Details later…


http://sunnewsonline.com/breaking-gdp-contracts-as-nigerias-worst-recession-in-29-years-continues/

Can we discuss other issues like bokoharam boys coming to abuja

hucienda:
When will the tales of unending economic woes end?

after 10 years

which one is 29 years? abegi this should be worst ever.

Ty Bello shares more new photos of BBN Winner, Efe
http://mainvibes.com/ty-bello-shares-new-photos-bbn-winner-efe/

Hmm. This is serious.

R2bees:
which one is 29 years? abegi this should be worst ever.

Tot they said we are out of recession according to apc propaganda. Useless govt kawai.

O boy!

Nigerian Economy will pick up greatly when private sector is allowed to invest and spend greatly.

When nigerians finally discard d dying human vegetable into d 6ft deep waste bin of d earth...then can we see progress.

Blame our politicians especially those ones in the National Assembly. Also blame CBN whose overriding interest is to make more money for the Banks and ostensibly for the FG.

The same economy cone heads and their gun wielding boko haramist associates been singing is back on its feet. na NDA wey dey allow this oil to still dey flow.

diablos:
When nigerians finally discard d dying human vegetable into d 6ft deep waste bin of d earth...then can we see progress.

it will never happen, buhari will not die afonja and mere commissioner will never be president through the back door, let him go and contest in 2019

Buhari led APC has finished Nigeria

amuwo1980:

it will never happen, buhari will not die afonja and mere commissioner will never be president through the back door, let him go and contest in 2019

Lol...is it d commissioner or his afonja tribe that's ur problem?

True if Osibanjo wants to president let him go and contest. No to back door presidency. I have no sympathy for the dullard Buhari though so either he dies or lives is up to God after all his minister confirms that his absence does not make any difference.

amuwo1980:

it will never happen, buhari will not die afonja and mere commissioner will never be president through the back door, let him go and contest in 2019

CHANGE indeed

Looks like they were wrong.

Recession right now:

Blue3k:
Looks like they were wrong.

That is to say... they were cooking up figures then and feeding us fake statistics. I don't even know what to believe anymore...

Keneking:
CHANGE indeed

But you follow campaign that year na! Keneking sef!

(Where that ya chimpanzee photo wee you dey always upload after that "Jonathan sef!" )

We told them nothing could good could come out of the quality of brain in Buhari's head but they doubted us ..look now

janvier27:
Blame our politicians especially those ones in the National Assembly. Also blame CBN whose overriding interest is to make more money for the Banks and ostensibly for the FG.

You are still shielding the main culprit who is Buhari and blaming small chops ..okay oo..please can you tell us how senators are responsible for the recession ?

Its called CHANJI !

Nigerians haff enter one chance.

What a nightmare this government has turned into.

Negative trend

SalamRushdie:


You are still shielding the main culprit who is Buhari and blaming small chops ..okay oo..please can you tell us how senators are responsible for the recession ?

Quick passage of the budget will help. Senators are dragging this to blackmail, bargain and inflate.

janvier27:


Quick passage of the budget will help. Senators are dragging this to blackmail and bargain.

Is it not the same Buhari that is delaying the budget now as he can't sign and doesn't want Osinbanjo to sign

SalamRushdie:


Is it not the same Buhari that is delaying the budget now as he can't sign and doesn't want Osinbanjo to sign

If Buhari can't sign, then its unlikely he will be capable of asking Osinbanjo not to sign. Osinbanjo may be weighing his options on what to do with the tampered budgets. I still think Senators are more to be blamed. We all know who they are.

na wa o