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Nigeria slips into recession Due To COVID-19,Oil Prices?

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CUSTOMSGATE: $3 BILLION PROJECT RUNS INTO DISPUTE

Interestingly, Nigeria has slipped into a recession after its gross domestic product contracted for the second consecutive quarter, according to official data released.

 

 

Nigeria slips into recession Due To COVID-19,Oil Prices?

 

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.

 

Nigeria slips into recession Due To COVID-19,Oil Prices?

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

Sahara weekly online is published by First Sahara weekly international. contact saharaweekly@yahoo.com

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Nigerian Born US based Music Star, Tunde Success, to launch new album ‘Cornerstone’

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Nigerian Born US based Music Star, Tunde Success, to launch new album ‘Cornerstone’

The City of Philadelphia would be set agog on 17th May, 2025, as the creative and Nigerian born music star, Tunde Success is launching new album that day.

According to the information made available to us, the launching of ‘Cornerstone’ the new effort of handsome and dark Tunde Success is taking place at Philly in suites, 4444 City Avenue Philadelphia P A 19131.

The epoch making event is proudly sponsored by the Star Lager beer. To make the event a memorable one, Mama D Catering would supplied hot Amala on the spot, while Amazing Grace Catering is going to tantalize the event with jolly rice and shawarma.

The red carpet interview would be anchored by 360 Delight Creation.

While speaking about the event, Tunde Success, a multiple awards winning singer, however, promised to make the day, a moment of joy, entertainment and plenty faajis for all the guests. He also enjoined all his fans to come out enmass to support him.

Nigerian Born US based Music Star, Tunde Success, to launch new album 'Cornerstone'

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Alaketu-Designate Visits Ooni of Ife, Secures Royal Blessing for Kingship

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Alaketu-Designate Visits Ooni of Ife, Secures Royal Blessing for Kingship

Alaketu-Designate Visits Ooni of Ife, Secures Royal Blessing for Kingship

The Alaketu-designate of Ketu Land in Epe Local Government Area of Lagos State, Prince Adekoya Babajide Adefowora, on Wednesday, paid a historic visit to the Ooni of Ife, Arole Oduduwa Ooni Adeyeye Enitan Ogunwusi, Ojaja II, at his palace in Ile-Ife.

The visit, which is a significant step in his journey to the throne, was marked by the royal father’s blessings and prayers for a peaceful and prosperous reign.

This comes after the formal presentation of Prince Adefowora, who hails from the Ateshimara Ruling House, by the traditional authorities of Ketu Land on Tuesday, February 18, 2025.

His visit underscores the deep-rooted ancestral ties between Ketu Land and Ile-Ife, reaffirming the sacred traditions that bind Yoruba monarchs to their spiritual and historical source.

Prince Adefowora was accompanied to the Ooni’s palace by prominent members of his family, high-ranking chiefs, and kingmakers from Ketu Land, all of whom played key roles in his selection and endorsement as the next Alaketu.

Speaking at the palace, Prince Adefowora described his visit as a homecoming and an essential part of his ascension process.
have come home to pay homage to my father, the Ooni of Ife. My deep love for my people motivated me to accept the call to the throne of Ketu. This journey is not just about me; it is about upholding our rich heritage and leading my people towards greater progress,” he said.

Addressing controversies surrounding his ascension, he condemned attempts by some individuals to manipulate the process with fraudulent documents.

I am aware of certain fraudulent documents being submitted by some individuals to the authorities. I use this opportunity to urge them to desist from such illegal activities. The Supreme Court has already affirmed my right to the throne, and I call on the government to thoroughly investigate this matter. It is crucial for everyone to respect the rule of law and uphold due process,” he stated.

On the delay in filling the Alaketu throne after the demise of the previous ruler, Prince Adefowora explained that Yoruba tradition necessitates a period of transition.

“In Yoruba tradition, when a king joins his ancestors, a period of interregnum is observed before selecting a successor. This allows the community time to reflect, ensure stability, and make the right choice for the future. My people made their choice long ago, and today, they have formally presented me to our ancestral father, the Ooni of Ife. I am honored to have received Kabiyesi’s blessings,” he added.

In his response, the Ooni of Ife congratulated Prince Adefowora on his journey to the throne and prayed for a successful reign filled with peace, wisdom, and development for Ketu Land.

You are about to embark on a sacred duty, one that requires wisdom, patience, and commitment to the welfare of your people. I pray that your reign brings prosperity, unity, and growth to Ketu Land. May the ancestors guide you, and may your leadership be marked by justice and progress,” the Ooni prayed.

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Unity in Generosity : Prophet Genesis Unites Faiths at Ibafo Ramadan Lecture (See Video) – Alhaji Arems

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Unity in Generosity : Prophet Genesis Unites Faiths at Ibafo Ramadan Lecture (See Video) – Alhaji Arems

 

On March 12, 2025, during a spirited Ramadan lecture in Ibafo, Prophet Genesis once again demonstrated that faith and generosity know no boundaries. In a moment captured on video that has since resonated with audiences far and wide, the Prophet called an elderly woman to the stage. With warmth and conviction, he declared, “Mama, I’m the one people have blessed with this cash – open up your bag, and you can as well get extra nylon bags – take it all.” He went on to reassure her that his personal driver and security team would ensure she got home safely, eliminating any worries about carrying the money.

The heartfelt gesture was part of a lecture themed “Truthfulness brings success,” a mantra that clearly underpins Prophet Genesis’ approach to ministry. Notably, he reiterated that his annual Ramadan gatherings are unique in that he never collects money. According to the Prophet, God has made it clear that accepting money on these occasions would sever his divine connection—a conviction that has guided his practice for years.

What makes this event particularly striking is its interfaith significance. Held during Ramadan—a time when millions of Muslims around the world are fasting—the lecture underscored Prophet Genesis’ commitment to inclusivity. His actions sent a powerful message that genuine compassion and kindness transcend religious labels, uniting communities in shared celebration and mutual respect.

In a world often divided by differences, Prophet Genesis’ demonstration of unconditional generosity and his call for truthfulness serve as a reminder of the unifying power of faith and goodwill.

Watch Video Here : https://vm.tiktok.com/ZMBY9RPus/

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