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GDP Rises to 6.54% in Second Quarter

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GDP Rises to 6.54% in Second Quarter Nigeria’s real Gross Domestic Product (GDP) increased to 6.54 per cent in the second quarter of the year (Q2 2014) compared to 6.21 per cent in the first quarter, according to the National Bureau of Statistics (NBS). The NBS, in its quarterly GDP estimates released yesterday, said real GDP in monetary terms stood at about N16.08 trillion in Q2 2014 compared to about N15.43 trillion trillion in the previous quarter. Nominal GDP was estimated at about N21.73 trillion in the period under review compared to about N20.16 trillion in Q1 2014. The services sector accounted for the largest share of real GDP accounting for about N8.54 trillion or 53.15 per cent of GDP while industry accounted for about N4.17 trillion or 25.96 per cent as well as agriculture which accounted for the smallest sectoral contribution at about N3.36 trillion or 20.89 per cent of GDP. Meanwhile, daily average crude oil production in Q2 2014 was put at 2.2...
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Presidency: APC Reps push for Tambuwal

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Some have launched a powerful drive for the Speaker, Aminu Tambuwal, to emerge as the presidential candidate of the All Progressives Congress. Investigations on Thursday revealed that the members took it upon themselves to purchase the APC presidential nomination form for Tambuwal, who recently dumped the Peoples Democratic Party for the nation’s main opposition party. Attempts by the APC to pick a presidential candidate by consensus had failed after talks between the stakeholders reportedly collapsed on Wednesday. The contest was initially between a former Head of State, Maj. Gen. Muhammadu Buhari (retd); a former Vice-President, Atiku Abubakar; Kano State Governor, Rabiu Kwankwaso, and Imo State Governor, Rochas Okorocha. But, The  learnt that the “entry” of Tambuwal into the race had further compounded the situation in the APC. Investigations showed that the lawmakers had reasoned that Tambuwal was a “poor speaker,” who would not afford the N27m the APC fixed as th...
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Sani Dangote, Brother Of Africa’s Richest Man, In Legal Trouble As Judge Freezes His Accounts

Sani Dangote, Brother Of Africa’s Richest Man, In Legal Trouble As Judge Freezes His Accounts . A Federal High Court in Lagos today restrained twenty commercial banks in Nigeria from honoring any  checks written by Sani Dangote, a younger brother of Africa’s richest man, Aliko Dangote. Also affected by the judge’s order are checks written by Mr. Dangote’s companies, Dansa Foods Limited and Bulk Pack Services Limited.The orders were given because Union Bank sued Mr. Dangote and his companies over their alleged failure to repay a debt of about N5 billion despite repeated demands.
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