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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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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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2015: Adefarasin Urges Nigerians to Rise against Corrupt Politicians

2015: Adefarasin Urges Nigerians to Rise against Corrupt Politicians. Ahead of the 2015 general election in the country, the Senior Pastor and Metropolitan Head of House on the Rock Churches, Pastor Paul Adefarasin, has cautioned political office holders to desist from abusing public trust and denigrating their offices, urging Nigerians from all walks of life to rise up against acts of impunity and cases of naked display of corruption in Nigeria. Adefarasin gave the charge while speaking during the unveiling of - a multi-million naira mega church edifice, Citadel & Towers, House on the Rock, The Refuge in Abuja. He revealed that “a new generation of Nigerians is coming and will change the status quo from deliberate act of corruption to sanctity.” “We must rise up against those who use public offices for private or self aggrandisement. I charge you all, in the words of an illustrious president of the United States of America, Mr. Franklyn D. Roosevelt, who decla...
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