The following warnings occurred:
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined array key "avatartype" - Line: 783 - File: global.php PHP 8.0.30 (Linux)
File Line Function
/global.php 783 errorHandler->error
/showthread.php 26 require_once
Warning [2] Undefined variable $awaitingusers - Line: 16 - File: global.php(844) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/global.php(844) : eval()'d code 16 errorHandler->error
/global.php 844 eval
/showthread.php 26 require_once
Warning [2] Undefined array key "mybb" - Line: 1952 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 1952 errorHandler->error
/inc/functions_indicators.php 41 my_set_array_cookie
/showthread.php 629 mark_thread_read
Warning [2] Undefined property: MyLanguage::$ratings_update_error - Line: 5 - File: showthread.php(732) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(732) : eval()'d code 5 errorHandler->error
/showthread.php 732 eval
Warning [2] Undefined array key "additionalgroups" - Line: 7162 - File: inc/functions.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions.php 7162 errorHandler->error
/inc/functions_user.php 844 is_member
/inc/functions_post.php 406 purgespammer_show
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "profilefield" - Line: 6 - File: inc/functions_post.php(474) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php(474) : eval()'d code 6 errorHandler->error
/inc/functions_post.php 474 eval
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showimages" - Line: 741 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 741 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "showvideos" - Line: 746 - File: inc/functions_post.php PHP 8.0.30 (Linux)
File Line Function
/inc/functions_post.php 746 errorHandler->error
/showthread.php 1070 build_postbit
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "threadprefix" - Line: 4 - File: showthread.php(1168) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1168) : eval()'d code 4 errorHandler->error
/showthread.php 1168 eval
Warning [2] Undefined array key "invisible" - Line: 1506 - File: showthread.php PHP 8.0.30 (Linux)
File Line Function
/showthread.php 1506 errorHandler->error
Warning [2] Undefined variable $threadnotesbox - Line: 30 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 30 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $addremovesubscription - Line: 79 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 79 errorHandler->error
/showthread.php 1533 eval
Warning [2] Undefined variable $forumjump - Line: 86 - File: showthread.php(1533) : eval()'d code PHP 8.0.30 (Linux)
File Line Function
/showthread.php(1533) : eval()'d code 86 errorHandler->error
/showthread.php 1533 eval



Guest Join UsHey Guest,
Welcome, Join our awesome community where you can discuss on various topics :-
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Some point about your community
Much More.. or Create an Account


{myadvertisements[zone_1]}
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Nigeria Heading For Recession In Q4 2020 — Zainab Ahmed
#1
Quote:Nigeria is heading for another recession in the fourth quarter of this year, the Federal Government declared on Friday.

According to the government, findings showed that the country’s Gross Domestic Product for the second and third quarters of 2020 were projected to be negative.

This, it said, implied that the country would slide into a second recession in four years.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, said the country’s real GDP had been projected by the National Bureau of Statistics to contract by 4.2 per cent in 2020, as against the previous projected growth of 2.9 per cent.

“Q2 and Q3 2020 GDP growth is projected to be negative, which means that the country will lapse into a second recession in four years,” she said.

She also revealed that the Federal Government’s earnings dropped by about 65 per cent following the cuts in oil production.

Ahmed spoke during a virtual consultative public forum in Abuja where she presented the Draft 2021-2023 Medium Term Expenditure Framework/Fiscal Strategy Paper.

She noted that the economy faced serious challenges in the first half of the year as the macroeconomic environment was significantly disrupted by COVID-19.

According to her, crude price dropped from $72 per barrel in January to below $20 in April 2020, making the $57 crude oil benchmark of the 2020 budget unsustainable.

“The massive output cut by OPEC and its allies to stabilise global oil market, with Nigeria contributing about 300,000 barrels per day of production cuts, resulted in about 65 per cent decline in projected net 2020 government revenues,” the minister said.

She said the revenue reduction was from the oil and gas sector and had adverse consequences on foreign exchange inflows into the economy.

“Unless we achieve a very strong Q3 2020 economic performance, the Nigerian economy is likely to lapse into a second recession in four years, with significant adverse consequences,” Ahmed said.

Ahmed also stated that the Federal Government planned to spend N11.86tn in 2021.

According to her, Nigeria’s monetary futunes would suffer a deficit of N5.16tn because of the government’s projected ability to generate only N6.98tn revenue all in 2021.


https://punchng.com/nigeria-heading-for-recession-in-q4-2020-fg/

[Image: 11906794_zainabahmed_jpeg22120dd4c770986...f416f2e393]
Reply
{myadvertisements[zone_3]}


Possibly Related Threads...
Thread Author Replies Views Last Post
  UNITED STATES OF AMERICA EMBASSY/CONSULATE IN NIGERIA IS CURRENTLY HIRING Peacejordan 0 1,016 09-19-2021, 02:18 PM
Last Post: Peacejordan
  Nigeria Air Yet To Fly, 3 Years After Unveiling Edoman 0 956 08-18-2021, 10:52 PM
Last Post: Edoman
  Nigeria’s unclaimed share dividends hits N170bn – Securities and Exchange Commission Edoman 0 802 08-14-2021, 07:05 AM
Last Post: Edoman
  Nigeria’s loans from World Bank, African Development Bank rise to $14.35bn Edoman 0 841 08-02-2021, 02:15 PM
Last Post: Edoman
  AMCON takes over NICON Insurance and Nigeria Reinsurance Corporation Edoman 0 776 07-27-2021, 05:44 PM
Last Post: Edoman
  Nigeria’s revenue-to-GDP ratio lowest in the World – World Bank Edoman 0 819 07-27-2021, 02:15 PM
Last Post: Edoman
  World Bank: Nigeria's Growth Lags Africa As Inflation, Poverty, Crime Rises Edoman 0 902 06-16-2021, 09:16 AM
Last Post: Edoman
  Nigeria Exits Recession, Real GDP Rose By 0.11% In Q4 And -1.92% In FY 2020 Edoman 1 1,146 05-17-2021, 04:47 PM
Last Post: AustinMullins



Users browsing this thread: 1 Guest(s)

{myadvertisements[zone_2]}

About contripeople

Contripeople forum description.

              Quick Links

              User Links

              Advertise