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‘We Expect Better Economic Outlook For The Second Half Of The Year’ – Presidency

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The Presidency says it expects a better economic outlook for Nigeria during this second half of the year. Read a statement released from the presidency below…

The just released GDP figures for the 2016 second quarter by the National Bureau of Statistics while confirming a temporary decline, has also indicated an hopeful expectation in the country’s economic trajectory.
Besides the growth recorded in the agriculture and solid mineral sectors, the Nigerian economy in response to the policies of the Buhari presidency is also doing better than what the IMF had estimated with clear indications that the second half of the year would be even much better.

The Buhari presidency will continue to work diligently on the economy and engage with all stakeholders to ensure that beneficial policy initiatives are actively pursued and the dividends delivered to the Nigerian people.

The following statement was made by the Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu on the latest NBS report:

“The just recently released data from the National Bureau of Statistics showed that Gross Domestic Product declined by -2.06% in the second quarter of 2016 on a year-on-year basis.

A close look at the data shows that this outcome was mostly due to a sharp contraction in the oil sector due to huge losses of crude oil production as a result of vandalisation and sabotage.

However, the rest of the Q2 data is beginning to tell a different story. There was growth in the agricultural and solid minerals sectors which are the areas in which the Federal Government has placed particular priority.

Agriculture grew by 4.53% in the second quarter of 2016 as compared with 3.09% in the first quarter. The metal ores sector showed similar performance with coal mining, quarrying and other minerals also showing positive growth of over 2.5%. Notably also, the share of investments in GDP increased to its highest levels since 2010, growing to about 17% of Gross Domestic Product.

The manufacturing sector though not yet truly out of the woods is beginning to show signs of recovery while the service sector similarly bears watching.

Nevertheless, the data already shows a reduction in imports and an increase in local produced goods and services and this process will be maintained although it will start off slowly in these initial stages before picking up later.

The inflation rate remains high but the good news is that the month-on-month rate of increase has fallen continuously over the past three months.

Unemployment remains stubbornly high which is usually the case during growth slowdowns and for reasons of a structural nature.

The picture that emerges, barring unforeseen shocks, is that the areas given priority by the Federal Government are beginning to respond with understandable time lags to policy initiatives. Indeed, as the emphasis on capital expenditure begins to yield results and the investment/GDP numbers increase, the growth rate of the Nigerian economy is likely to improve further.

As these trends continue, the outlook for the rest of the year is that the Nigerian economy will beat the IMF prediction of -1.8% for the full year 2016.

The IMF had forecasted a growth of -1.8% for 2016, however the economy is performing better than the IMF estimates so far. For the half year it stands at -1.23% compared to an average of -1.80% expected on average by the IMF.

What is more, it is likely the second half will be better than the first half of 2016. This is because many of the challenges faced in the first half either no longer exist or have eased.

Laolu Akande
Senior Special Assistant-Media & Publicity
August 31, 2016
In the Office of the Vice President

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Powerful dignitaries, high net worth personalities storm Omorede Osifo’s diamond jubilee celebration in Marbella Spain

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Powerful dignitaries, high net worth personalities storm Omorede Osifo’s diamond jubilee celebration in Marbella Spain

.. How she has attained so much professional, political heights at 60 

 

 

The beautiful city of Marbella in Spain was thrown into a colorful and electrifying mood when one of Nigeria’s most celebrated, iconic political Lionesses, the debonair banker turned politician, Lady Omorede Osifo was serenaded with a sumptuous and deluxe 60th birthday gig.

 

The dynamic political empress and symbol of selfless service to humanity who served diligently and faithfully as the honourable Commissioner for Youth and Sports in Edo State was flabbergasted by the amazing love shown to her by friends, family and well-wishers who thronged the alluringly beautiful hall to give her an indelible birthday celebration. The event tagged @omorede_osifo is now the talk of town as high networth dignitaries, celebrities from all walks of life and different parts of the world all made their presence significant for the celebrant to ruminate over in many years to come.

 

Lady Omorede Osifo is a quintessential democrat who committed much of her time and energy in serving the people. The birthday babe whose special day fell on 8th of May has come, saw and conquered in the so-called murky waters of Nigerian politics. She served perfectly as State Commissioner, Deputy National Treasurer of the ruling All Progressives Congress (APC),

Special Adviser on Women Mobilization in Edo State and as a distinguished representative of her people.

 

As the celebration of the 60th birthday of this lady of glam, glitz and panache unfolded, it became clear that this gathering was not just a personal milestone for Hon. Lady Omorede Osifo but also a reaffirmation of commitment among political leaders to work together. The convergence of these key figures in the political arena serves as a reminder of the potential for collaborative efforts to foster progress and uplift the community.

 

Her birthday celebration was a testament to the strength of unity in political engagement, highlighting the significance of personal connections in the realm of governance.

 

As Hon. Lady Omorede Osifo embarks on another year, the expressions of support and solidarity from her fellow dignitaries promise a future filled with collaborative achievements and shared goals for the betterment of their constituents.

 

Hon. Lady Omorede Osifo is a fantastic leader who wants the best for her people. She is personally committed to the transformation of women and two girl child in Edo State and she has also been at the top echelon of her political party, the APC with her selfless efforts recognized and appreciated by His Excellency President Bola Ahmed Tinubu GCFR as well as her superb democratic contributions to the growth and development of Edo State under the leadership of His Excellency Governor Monday Okpebholo who has overtime shown appreciation to her for being a dedicated and patriotic loyal daughter of Edo State. Even the Oba of Benin Kingdom bestowed on her the Prestigious Royal Beads which is given to Chiefs in recognition of her deep passion for the historical city of Benin.

 

This year, all road led to the serene city of Marbella, Spain for the celebration of her 60th birthday and a opportunity for her to appreciate her Creator, the Almighty God as well as every single individual that has played significant roles in her life.

 

Attaining the diamond age of 60 is never a child’s play, it’s a moment of sober reflection and commendation to God. We at Black Celebrity Magazine wish the indefatigable and indomitable Hon. Lady Omorede Osifo a very happy 60th birthday and many more years to live in perfect health and more success.

 

Powerful dignitaries, high net worth personalities storm Omorede Osifo's diamond jubilee celebration in Marbella Spain

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Confusion, Panic As Reports Of Alexx Ekubo’s Death Rock Nollywood

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Confusion, Panic As Reports Of Alexx Ekubo’s Death Rock Nollywood

 

The Nigerian entertainment industry was thrown into confusion and panic on Tuesday following viral reports alleging that popular Nollywood actor, Alexx Ekubo, had died at the age of 40.

 

 

The shocking claim, which spread rapidly across social media platforms and blogs, alleged that the actor died in Lagos after battling undisclosed health complications, sparking an outpouring of grief from stunned fans and colleagues.

 

 

As the rumours gained momentum online, several actors, movie producers and entertainment enthusiasts flooded Instagram and X with emotional reactions, describing the development as “heartbreaking,” “unbelievable” and “a dark day for Nollywood.”

 

 

Actor Godwin Nnadiekwe was among those who reacted emotionally, reportedly lamenting that the industry had lost “a rare soul” whose charisma and talent helped shape modern Nollywood.

 

 

Alexx Ekubo, widely admired for his stylish persona, romanti movie roles and strong social media influence, rose to prominence after emerging first runner-up at the 2010 Mr Nigeria competition before becoming one of Nollywood’s most sought-after actors.

 

 

The development also reignited conversations surrounding the actor’s prolonged absence from social media in recent months, which had earlier triggered concern among fans over his wellbeing.
Despite the widespread reports, confusion continued to trail the story as no official statement had been issued by the actor’s family, management or close associates confirming the alleged death as of press time.

 

 

The uncertainty surrounding the reports further fueled tension online, with many Nigerians demanding clarity while others urged the public against spreading unverified information.

 

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JOY AS SHEBABY SPARKS PREGNANCY SPECULATION YEARS AFTER MARRIAGE

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JOY AS SHEBABY SPARKS PREGNANCY SPECULATION YEARS AFTER MARRIAGE

 

Popular Nigerian actress, singer and dancer, Seyi Ariyo, popularly known as Shebaby, has stirred reactions on social media following speculations that she is expecting a child years after getting married.

 

The development has generated excitement among fans and colleagues, especially on Instagram where many have continued to flood her page with congratulatory messages and prayers.

 

While some admirers celebrated the actress and prayed that her joy would be permanent, others pointed to a viral video currently making rounds online, where several entertainers, among them Oyita, a close friend, Tawa Ajisefinni, Seyi Ẹdun, Bukky Fagbuyi, and a host of others including Olú Maintain, were seen rejoicing and congratulating her.

 

Although Shebaby is already a mother with a grown daughter, the latest development has continued to attract attention within the entertainment industry and among her followers.

 

Before now, the London-based entertainer had built a strong reputation for herself in both music and acting. She has released several songs and also worked alongside notable Fuji star Wasiu Alabi Pasuma and other respected entertainers in the industry.

 

In the movie sector, Shebaby is also regarded as a household name. Sources close to the actress revealed that she is currently working on a new project titled Father Forgive Me.

 

Fans and colleagues have continued to pray for the actress, wishing her safe delivery and more happiness in her home.

 

#Shebaby #SeyiAriyo #EntertainmentNews #Nollywood #Pasuma #Olumaintain #CelebrityNews

JOY AS SHEBABY SPARKS PREGNANCY SPECULATION YEARS AFTER MARRIAGE

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