Nigeria recorded 1.92 percent GDP growth in Q4 2017 - NBS

"Foreign Direct Investment recorded $378.4 million in quarter 4, which is a year on year increase of 9.8%, while Other Investment recorded $1,526.9, growing by 66% when compared to quarter 4 of 2016".

The Commerce Department on Wednesday revised downward the USA gross domestic product for the fourth quarter of 2017 - to a 2.5 percent annual rate.

As growth of imports outpaced that of output, the resulting trade deficit sliced off 1.13 percentage points from GDP growth rate, said the department.

This is higher by 1.78% point compared to the rate recorded same quarter, 2016 and 2.21% point higher than in the third quarter of 2017.

The NBS report added that the economy in the fourth quarter recorded aggregate GDP of N31.2tn in nominal terms, which was higher when compared to N29.16tn in the corresponding fourth quarter of 2016.

"Nominally, 2017 recorded an annual growth rate of 12.05 percent higher by 4.25 percentage point compared to 2016 annual growth of 7.80 percent", NBS stated.

The non-oil sector recorded an annual growth of 0.47 percent compared to -0.22 percent in 2016.

Laura Muir Wins Bronze In The 3000m At The World Indoor Championships
USA champion Shelby Houlihan, who trains with the Portland-based Bowerman Track Club, closed hard to take fifth in 8:50.38. Barshim landed four ideal jumps before failing three times at 2.36m, leaving the window open for the 20-year-old Lysenko.

Also speaking to Daily Trust, an economist, and the Managing Director of Bristil Investment Limited, expressed satisfaction with the growth in GDP rate in the fourth quarter of 2017.

According to the report, the annual growth of the oil sector stood at 4.79 percent higher than the previous year's growth of -14.45 percent.

Commenting on the development, Lukman Otunuga, a Research Analyst at FXTM, said investor sentiment over the Nigerian economy was uplifted with the official reports as it showed that the nation bounced back to life in 2017, after experiencing its first recession in over 25 years.

Consumer spending, which accounts for more than two-thirds of US economic output, grew 3.8 percent, the fastest pace since the fourth quarter of 2014.

The figures are edging closer to the country's 2018 budget target. The Services sector, which is about 53% of GDP, returned to positive growth in Q4 2017. The sector's annual contribution was 8.68 percent in 2017 and 8.35 percent in 2016. Annual contribution was 91.32 per cent and 91.65 per cent in 2016.

Oil production averaged at 1.91million barrels per day (mbpd), -0.12million barrels lower than the daily average production recorded in the third quarter of 2017.

Dr. Olasode however warned that Nigeria should not focus on the short term growth but look more towards the long term growth.

(Copyright © 2015. All Rights Reserved.)

Federal budget focuses funding on "innovation and skills plan"
Morneau is focused on another fiscal "anchor" of lowering the net debt-to-GDP ratio, which is a measure of Ottawa's debt burden. Morneau's budget provides neither, although the 2018-2019 deficit is now lower than projected in the last budget.

13.6 billion-year-old radio signals date back to Cosmic Dawn
Scientists know it exists because it has been detected through its gravitational interactions with visible matter in the cosmos. After all the hullabaloo, the universe was cold and dark for quite some time, full of radiation and clouds of hydrogen gas.

CS 'assault': Delhi officers, employees 'March for Dignity'
Nitin Tyagi and Rajesh Rishi - were today summoned by the police for questioning at Civil Lines Police Station by 4 pm. Deputy Chief Minister Sisodia yesterday accused Lt Governor Anil Baijal of siding with the government officers.

Trump says he would have confronted Parkland shooter even without a gun
And that, to him, means using his executive powers to do something even if Congress is unable to find consensus. He went on to claim he would have confronted the shooter unarmed.

Equifax finds an additional 2.4 million Americans impacted by 2017 breach
The company had not previously identified these customers because their Social Security numbers were not stolen. That brings the total number of people impacted by this breach to 147.9 million.

Microsoft's digital privacy fight heads to the Supreme Court this week
Bills to update the SCA to allow for easier law enforcement cross-border action are supported by both sides in the litigation. Microsoft appealed to the Second Circuit, which of Microsoft's motion to quash and contempt order in July 2016.

Kroger won't sell guns to anyone under 21 years old
Dick's Sporting Goods was the first company this week to announce it would raise the age of gun sales to 21. Walmart stopped selling assault firearms and accessories in 2015 and only sells handguns in Alaska.

American Outdoor Brands Corporation (NASDAQ:AOBC)
The stock of American Outdoor Brands Corporation (NASDAQ:AOBC) has "Buy" rating given on Friday, November 3 by Cowen & Co. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link .

'I'm Not Alone Anymore.' Why Monica Lewinsky Supports the #MeToo Movement
An intimacy I wanted - with a 22-year-old's limited understanding of the consequences. "Understandably, I was a bit thrown". And did her encounter with Starr end in the apology she had hoped for? A spokeswoman for Lewinsky declined to comment.

Samsung Galaxy Note 9 may launch with Bixby 2.0
DJ Koh, president of Samsung's mobile division confirmed the rumours at Mobile World Congress in Barcelona. If Samsung's dedication to Bixby wasn't clear before, it should be now.

Middle school suspends dozens of students after walkout
A march at Garretson High School in Garretson, S.D. was canceled after hundreds of negative comments on Facebook. For Kitsos, the March 14 school walkouts and March 24 downtown march carry a dual objective .

Three people dead in house fire in Co Fermanagh
Northern Ireland Fire & Rescue Service (NIFRS) said officers took an emergency call about the fire at 7.14am on Tuesday. Cops, paramedics and fire crews studied the cause of blaze and looked to see if other persons were involved.

United Kingdom manufacturing growth drops to eight-month low
A slowdown in export orders to the weakest in nearly a year means growth could cool further, IHS Markit said on Thursday. Meanwhile, manufacturers raised their output charges as part of attempts to pass through higher cost burdens to clients.

Isle of Wight jobs at risk as Maplin goes into administration
In September past year , Toys R Us - which operates in over 300 countries - filed for bankruptcy protection in the US . Electronics company Maplin also collapsed into administration yesterday, putting another 2,500 jobs at risk.

The end is nigh: CDC says flu season is slowing down
In 2018, influenza has taken its toll on the United States population, and the spread of flu viruses is still going strong. The problem: the quadrivalent flu shot is not covered by most German health insurers, since it's more expensive.

More News

More News