Tuesday, 27 February 2018

NIGERIA’S GDP GREW BY 0.83% IN 2017

Investor sentiment over the Nigerian economy was uplifted on Tuesday after official reports showed that the nation bounced back to life in 2017, after experiencing its first recession in over 25 years.

Nigeria’s GDP grew by 0.83% in 2017, thanks to improved growth in “crude oil production, crude production and natural gas, metal ores, construction, transportation and storage, trade, electricity and gas production” according to the NBS.

With Nigeria slowly breaking away from the shackles of oil reliance and deriving growth from other sustainable sources, the outlook remains highly encouraging. For Nigeria to maintain this current positive momentum, it is vital that the 2018 budget is approved.

With economic growth prospects on a positive trajectory and inflation stabilizing, the Central Bank of Nigeria could be encouraged to cut interest rates sooner than expected to support growth further.

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Have you heard this? Many Nigerian exporters have been defrauded of huge amount of money in the process of exporting commodities to foreign countries. Do you know why? They were not trained on export operations, management, documentations and the best methods of payment in export trade. This is terrible!!! Nigerians cannot continue to lose money to foreigners in the course of export business. Exporters, why don’t you get a practical manual that teaches the stages of export trade from processing and packaging of commodities to receipt of payment by the foreign buyers. It teaches export operations, export management, export documentations and methods of payment in export trade? It is a contemporary step-by-step guide to export trade. It tells all the contemporary dynamics in export trade. To get it, click on the link below: