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Obinna Chima, Nume Ekeghe in Lagos and James Emejo in Abuja Analysts yesterday urged the federal government to continue to develop policies to attract investments to Nigeria and to sustain targeted interventions in order for the country to sustain its positive economic growth trajectory. The advice came as the country recorded a Gross Domestic Product (GDP) growth rate of 0.51 per cent (year-on-year) in the first quarter of 2021, (Q1 2021) compared with the 0.11 per cent recorded in the fourth quarter (Q4) 2020, according to figures the National Bureau of Statistics (NBS) released yesterday. ...

By James Emejo in Abuja and Nume Ekeghe in Lagos Analysts yesterday threw their weights behind the recent recommendation by the Presidential Economic Advisory Council (PEAC) to President Muhammadu Buhari for an end to fuel subsidy. They said in separate interviews with THISDAY that petrol subsidy removal was long overdue. The analysts described the state of the Nigerian economy as currently weak, adding that this could be worsened by payment of subsidy claims, especially given the malpractices surrounding previous disbursements. The analysts added that subsidy created a distortion in the econ...