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Third-quarter 3.46% GDP growth excites President Tinubu, promises improved output
Third-quarter 3.46% GDP growth excites President Tinubu, promises improved output
President Bola Ahmed Tinubu has expressed excitement over Nigeria’s 3.46 per cent GDP growth in the third quarter of 2024, saying the country is on track to becoming a $1tn economy by 2030.
Newstrends reports that in a recent report released on Monday, the National Bureau of Statistics (NBS) revealed that Nigeria’s Gross Domestic Product (GDP) grew by 3.46 per cent in the third quarter, compared to the 3.19 per cent growth recorded in the second quarter.
The NBS report revealed that key sectors such as Agriculture, Transport, Education, Health, Real Estate, Finance and Insurance, ICT, Trade, and Manufacturing drove the latest GDP growth. The top contributing sectors to GDP in Q3 2024 include Agriculture at 28.65 per cent, ICT at 16.35 per cent, Trade at 14.78 per cent, Manufacturing at 8.21 per cent, Crude Oil at 5.57 per cent, Finance & Insurance at 5.51 per cent, and Real Estate at 5.43 per cent.
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“The growth in GDP shows that President Tinubu’s quest for a more robust boost in the economy and, by extension, a better standard of living for all Nigerians is on course,” the President’s Special Adviser on Media and Public Communications, Mr. Sunday Dare, said in a statement he signed Monday titled, ‘President Tinubu assures of greater economic output, welcomes third quarter GDP growth figure.’
“President Tinubu said his administration has not and will never forget his promise of a $1tn economy by 2030.
“While I welcome this development, the latest figure also shows the much work that needs to be done.
“We won’t rest until Nigerians feel the positive impacts in their pockets and experience a better living standard. My administration remains committed to the welfare of our people.”
The President said the 3.46 per cent growth indicates Nigeria is recovering from the reforms’ unintended effects. He noted that the proposed tax reforms aim to reduce the tax burden on small businesses and spread prosperity to the poor.
“The new Tax regime seeks to promote equity by reducing what is known as the headquarters effect—a situation where states, where company headquarters are based, get more benefits because their taxes for the whole nation are remitted—in favour of spatial and demographic equity,” Tinubu said.
Third-quarter 3.46% GDP growth excites President Tinubu, promises improved output
metro
200,000 repentant terrorists surrender, drop arms in North East – CDS
200,000 repentant terrorists surrender, drop arms in North East – CDS
The Chief of Defence Staff, General Christopher Musa, has disclosed that about 200,000 repentant terrorists have so far dropped their arms and surrendered to troops in the North East, noting that the twin strategy of kinetic and non-kinetic operations was responsible for this achievement.
The CDS made this known at the Security and Justice Symposium organised by the Office of the National Security Adviser (ONSA) in collaboration with the British High Commission, which began at the National Counterterrorism Centre in Abuja on Tuesday.
He disclosed that the theme of the symposium, ”Securing Peace, Ensuring Justice, Protection, Conduct, and Accountability,” speaks volumes about the deluge of security challenges the armed forces and security agencies are facing.
His words, “All the challenges we are facing today have to do with fairness, equity, justice, and accountability.
“There will not be peace without justice, equity, fairness, and accountability. In our operations, we are conducting both kinetic and non-kinetic strategies, which have to a large extent yielded significant successes, and we want to particularly thank the National Security Adviser for his great support in this regard.
“Nigeria is going through so many challenges, and we feel we’re able to address this, and everybody has a sense of belonging. A lot of the security challenges we are having, we are sure, will go down. I want to thank the National Security Advisor for all the support he’s given us, both the kinetic and the non-kinetic.
“We have said it; the kinetic aspect is just less than 30%. The non-kinetic has a lot to play. The non-kinetic, because when you have democracy, people must have the evidence of democracy. As long as it tells people to sleep well and be peaceful, and they are hungry, their children cannot eat, and all this creates more problems.
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“The issue of informants. We have to look at how we tackle this issue of informants. Because these are the people who have created the issue.
200,000 repentant terrorists surrender, drop arms in North East – CDS
metro
Robbers kill two members in shoot-out with Delta police
Robbers kill two members in shoot-out with Delta police
The spokesperson for the police in Delta State, SP Bright Edafe, has confirmed the death of two robbery suspects in the state.
Mr Edafe, who disclosed this to journalists on Tuesday in Warri, said that the deceased were killed from the bullets shot by their gang members.
According to him, the incident occurred on Wednesday at Effurun, Uvwie Local Government Area of the state.
Mr Edafe explained that the deceased were leading the police surveillance team attached to the Ekpan Division to their hideout when they were caught during a shoot-out.
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“The suspects were arrested at Effurun roundabout with a bag containing 57 live cartridges and other items. They were leading the surveillance team to their hideout at Warri/Sapele road when their gang members, on sighting the vehicle of the police team, engaged them in a shootout.During the gun duel, the arrested suspects that were leading the police team were fatally wounded by the gun shot of their colleagues. The two injured suspects were taken to the hospital and later died while receiving treatment,” he said.
Mr Edafe said that items recovered from the hoodlums hideout included: one English pump action gun, one locally made cut-to-size gun and eight live cartridges.
Others were: six iPhones, Smart phones and a Rolex wrist watch.
He said that the command had intensified manhunt on the fleeing members of the gang.
Robbers kill two members in shoot-out with Delta police
(NAN)
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