society
Nigeria slips into recession Due To COVID-19,Oil Prices?
Interestingly, Nigeria has slipped into a recession after its gross domestic product contracted for the second consecutive quarter, according to official data released.
Africa’s biggest economy is in recession for the first time since 2016. The recession four years ago was its first in a generation, and the country emerged from it the following year.
However, growth has been fragile and COVID-19 has hit the economy hard, amid low oil prices.
The continent’s top oil producer and exporter relies on crude sales for 90 percent of foreign exchange earnings.
Nigeria normally accounts for an average output of two million barrels per day. But the effects of the pandemic and low oil prices have cut production to approximately 1.4 million barrels.
“Q3 2020 Real GDP contracted for second consecutive quarter by -3.62 percent,” Yemi Kale, the statistician general, said on Twitter on Saturday.
Oil sector hit hard
The oil sector contracted by 13.89 percent in the third quarter against growth of 6.49 percent in the same period a year earlier, according to data cited by Kale, while non-oil sectors shrank by 2.51 percent in the three months to September.
Following Nigeria’s first confirmed COVID-19 case in late February, lockdowns were imposed from late March until early May in the main cities – economic hub Lagos and the capital, Abuja.
Lockdowns were also imposed in some of the country’s other states and a ban was placed on interstate travel.
“The performance of the economy in Q3 2020 reflected residual effects of the restrictions to movement and economic activity implemented across the country in early Q2 in response to the COVID-19 pandemic,” the statistics office said in a report published on Saturday.
“As these restrictions were lifted, businesses reopened and international travel and trading activities resumed, some economic activities have returned to positive growth,” it said
society
Warmest Birthday Wishes to an Exceptional, Gracious Woman, Mrs Folake Fabiyi ~Oluwaseun Fabiyi
Warmest Birthday Wishes to an Exceptional, Gracious Woman, Mrs Folake Fabiyi
~Oluwaseun Fabiyi
On this momentous occasion, I am thrilled to honor my beloved sister, Falake, a paragon of kindness and industriousness, on her birthday, today, Friday ayaba Fabiyi Supo, 15th November 2024. Ma, the divine benevolence of God Almighty has bestowed upon you another year of life, replete with promise and opportunity.
It is also an opportune moment to reflect on your blessings and methodically enumerate them, thereby acknowledging the remarkable accomplishments of God in your life
As you commemorate another year of existence today, may the Supreme Being graciously continue to endow your life with success, benevolence, and unwavering favour, and henceforth, every utterance and account regarding you and your household shall be replete with good tidings
I fervently pray that God’s divine guidance and favor will continually be upon you, and may He graciously bestow His kindness upon you now and forever. Please accept my warmest congratulations and sincere best wishes
To my dearest Mummy Precious, I offer my warmest felicitations and hope your birthday celebration is exceptionally eventful.
Oluwaseun Fabiyi a seasoned Journalist writes from Lagos
society
The Limit Breaker Sierre Leone Day 2- Spirit Brings Liberty When You Obey Instructions – Dr Chris Okafor.
The Limit Breaker Sierre Leone Day 2- Spirit Brings Liberty When You Obey Instructions – Dr Chris Okafor.
…. Obedience is the Solution to Limitations
If somebody can start it, somebody can end it, obeying instructions can change any evil patterns in the life of people, pattern of sickness, Poverty, Late marriage and what have you, when you obey instructions you will breakout of the Limitations in your father’s house.
This was the case study at the day 2 of the ongoing The Limit Breaker Conference in Freetown Sierre Leone where over 2 million faithful received Prophetic Blessings from the servant of God, The Generational Prophet of God.
Teaching on the Topic, Breaking out from the Limitations of my Father’s House Part 2, The Convener Chris Okafor world outreach Ministry COWOM and Senior Pastor Grace Nation Global Dr Chris Okafor continue on the highlights said when you obey instructions, you are prone to be free from any bondage of your father’s house.
The Generational Prophet of God also remarked that , it is not that the devil is powerful but because of the lack of Knowledge of the People, he said ignorance is a licence to bondage therefore obedience is majorly the solution to ancestral Limitations, when you obey instructions the spirit that brings liberty locate you and you will be free from bondage and every spirit of Limitations from you father’s house, you will be free from it.
It was another Powerful and Prophetic movement of God at the Conference, God uses his servant the Generational Prophet of God Dr Chris Okafor to do what he knows how to do best, Addressing Various issues, calling Names, Names of villages, while Every evil altars holding people inheritance exposed, Profiling solution to every case file brought to the conference, it was indeed a life changing Prophetic encounter in the life of the good people of Sierre Leone, the testimonies that will come after the three days prophetic encounter will be enormous and according to a participant who will not want her name mention.
The conference continues on Friday 15th November 2024 ,Same Time and Venue
-
Business6 months agoMaxwell Opara Goofed Says AAS Investors As They Stand By Jesam Michael, Demand For Justice
-
society6 months agoExposing The Many Lies Of Wanted Cyber Bully, Dorcas Adeyinka + Her Failed Attempt To Blackmail The Odegbamis
-
society6 months agoAlleged Assault In Court: Setting The Record Straight, Jesam Michael is The Victim, Not Maxwell Opara
-
Politics6 months agoNiger’s Journey of Redemption Under Governor Bago* By Paul Dickson