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Tag Archives: recession in Nigeria

Pat Utomi calls on FG to invest in infrastructure to end recession

Pat Utomi calls on FG to invest in infrastructure to end recession

In order for the country to move out of recession, Prof. Pat Utomi, a Political economist and Management analyst, has urged the Federal Government to invest massively in infrastructure. The Nation reports that Prof. Utomi also advised the government to make funds available to micro, small and medium scale enterprises (MSMEs) and boost the production of raw materials for finished goods ...

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New energy model recommended by industry chieftain, researcher

New energy model recommended by industry chieftain, researcher

Vanguard reports that amid multiple challenges to economic recovery and diversification in Nigeria, a corporate chieftain and an energy researcher have canvassed deployment of innovative power infrastructure for solutions. According to Vanguard, the Managing Director of UAC Property Development Company, Mr. Hakeem Ogunniran, stated that the power sector in general, and alternative power generation and distributed energy system, in particular, are ...

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Paint makers increase prices, seek FG’s forex window

Paint makers urged to use the right approach to doing business

Owing to the current recession in the country, and its harsh effects on Nigeria’s manufacturing sector, paint makers are currently increasing their prices to contend with the high rate of foreign exchange in the market. The paint operators under the aegis of Paints Manufacturers Association of Nigeria (PMA) expressed this while speaking with The Guardian, revealing that the scarcity of dollar has ...

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FG to use agric, solid minerals to tackle recession – Minister

FG to issue promissory notes to contractors on domestic debts

According to the Minister of Finance, Mrs. Kemi Adeosun, the Federal Government would use agriculture and solid minerals to tackle the current economic recession. Vanguard reports that, this came as Governor of Ogun State, Ibikunle Amosun said that oil has failed Nigeria. In addition, Vanguard reports that the Minister of Finance also said the country is already getting out of the ...

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Recession: Nigeria needs to develop tourism, other sectors – Ambode

Gov Ambode urges residents to become house owners through new policy

The Nation reports that Lagos state Governor Akinwunmi Ambode said yesterday that the prevailing economic recession offers a viable opportunity for the country to harness the potentials of other sectors. He identified tourism as one of the critical sectors that can revitalise the economy. The governor, who spoke at the commemoration of this year’s edition of the World Tourism Day, ...

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