Service sector lifts Nigeria’s GDP by 2.54 percent in Q3 2023.

Service sector lifts Nigeria’s GDP by 2.54 percent in Q3 2023.

The National Bureau of Statistics (NBS) says the country’s Gross Domestic Product (GDP) grew by 2.54 percent in the third quarter (Q3) of 2023. 

The growth rate according to the NBS is higher than the 2.25 percent recorded in the same quarter last year and higher than the second quarter 2023 growth of 2.51 percent.

NBS disclosed this in its GDP report for Q3, released yesterday. The bureau said the growth rate was driven by the services sector.

“The performance of the GDP in the third quarter of 2023 was driven mainly by the Services sector, which recorded a growth of 3.99% and contributed 52.70% to the aggregate GDP,” NBS said.

“The agriculture sector grew by 1.30%, from the growth of 1.34% recorded in the third quarter of 2022. The growth of the industry sector was 0.46%, an improvement from -8.00% recorded in the third quarter of 2022.

“In terms of share of the GDP, agriculture, and the industry sectors contributed less to the aggregate GDP in the third quarter of 2023 compared to the third quarter of 2022.”

According to the NBS, the nominal GDP for Q3 2023 stood at N60.66 trillion while the real GDP was N19.44 trillion.

Nominal GDP and real GDP both quantify the total value of all goods produced in a country in a year. However, real GDP is adjusted for inflation, while nominal GDP is not. NBS said: “In the quarter under review, aggregate GDP stood at N60,658,600.37 million in nominal terms.”

“This performance is higher when compared to the third quarter of 2022 which recorded aggregate GDP of N52,255,809.62 million, indicating a year-on-year nominal growth of 16.08%.”

The report also shows that the nation in the third quarter of 2023 recorded an average daily oil production of 1.45 million barrels per day (mbpd), higher than the daily average production of 1.20mbpd recorded in the same quarter of 2022 by 0.25mbpd and higher than the second quarter of 2023 production volume of 1.22 mbpd by 0.23mbpd.

“The real growth of the oil sector was –0.85% (year-on-year) in Q3 2023, indicating an increase of 21.83% points relative to the rate recorded in the corresponding quarter of 2022 (-22.67%),” the report said.

“Growth also increased by 12.58% points when compared to Q2 2023 which was –13.43%.

“On a quarter-on-quarter basis, the oil sector recorded a growth rate of 12.47% in Q3 2023. The Oil sector contributed 5.48% to the total real GDP in Q3 2023, down from the figure recorded in the corresponding period of 2022 and up from the preceding quarter, where it contributed 5.66% and 5.34% respectively.”

The NBS report said the non-oil sector grew by 2.75 percent in real terms during the reference quarter (Q3 2023).

This rate was lower by 1.52 percent points compared to the rate recorded in the same quarter of 2022 and 0.84 percent points lower than the second quarter of 2023.

“This sector was driven in the third quarter of 2023 mainly by Information and Communication (Telecommunication); Financial and Insurance (Financial Institutions); Agriculture (Crop production); Trade; Construction; and Real Estate, accounting for positive GDP growth,” the bureau said.

“In real terms, the non-oil sector contributed 94.52% to the nation’s GDP in the third quarter of 2023.”

NBS said this is higher than the share recorded in the third quarter of 2022 which was 94.34 percent and lower than the 94.66 percent recorded in the second quarter of 2023.

NOA mobilizes electricity consumers for NERC complaint resolution meeting.

NOA mobilizes electricity consumers for NERC complaint resolution meeting.

The National Orientation Agency (NOA), Lagos State Chapter has mobilized electricity consumers in Ikeja and its environ to attend a customer complaint resolution meeting organized by the National Electricity Regulatory Commission (NERC) in Lagos.

NOA, during a road walk to sensitise and mobilise electricity consumers in the area, enjoined them to seize the opportunity to lay before the commission the challenges they face.

Dr. Mustafa Adedeji Tukur, Acting State Director NOA, who was represented by Oyeyemisi Ogunaike, Deputy Director, Special Duties and Local Government Affairs, while speaking during the walk commended the NERC for organizing the programme, stating that such would afford consumers the opportunity to meet face to face with the officials to resolve their problems on the spot.

Hajiya Aisha Mahmud, Commissioner, Consumer Affairs Division NERC, in her remarks, said that the objective of the meeting was to meet with consumers face to face, note their challenges, and resolve them promptly especially as it concerns estimated bills and to sensitise the people on their rights as a consumer/customers.

She said that the Commission was working to ensure customers’ satisfaction and protection, while urging the consumers to know their rights so as not to be exploited illegally.

Folake Soetan, CEO/ MD, Ikeja Electric Distribution Company on her part noted that the essence of the meeting was to listen to people’s experiences and complaints and have the opportunity to resolve the issues on the spot or go further to investigate the challenges and improve on their services.

She assured the people of their intention to meter everybody as soon as possible, while she tasks the customers to rate their services and feed them back on how to offer the best service.

Uket Obonga, the National Secretary, Nigeria Electricity Consumers Advocacy Network (NECAN), urged the participants to always stand on their right and do the right thing which is paying for their electricity consumption.

He advised them on the Meter bypass which he said attracts a penalty to offenders when caught.

I can’t run against Tinubu in 2027, Wike declares.

I can’t run against Tinubu in 2027, Wike declares.

Minister of the Federal Capital Territory FCT, Ezenwo Nyesom Wike, has dismissed speculations that he could revive his presidential ambition in 2027, saying as a man who abhors disloyalty, he cannot contest against his boss, President Bola Tinubu.

Noting that he remained committed to the successes of the Tinubu administration, Wike recalled how his eternal quest for justice led him and five other Governors of the People’s Democratic Party PDP to form the G5 to canvass for power shift and support the presidential ambition of Tinubu.

Speaking in an interview on Friday in Abuja, the minister said good character should never be sacrificed on the altar of politics.

He said; “Tinubu made me the FCT minister and I won’t allow anybody to crumble our political structure. No!

“Tinubu made me minister, people don’t understand, I have character. What will happen in 2027? I stood and I said I am not going to support injustice. I was threatened that they would do me this and that. They tried many options including using Major Generals.”

On the reported face-off with Governor Siminalayi Fubara of his home state, Rivers, Wike said he did not want to dwell on the matter but later declared that the best test of a person’s character is to give him power and money.

He said; “Give a man power and money, and that is when you will know the person. If you have not given manpower and money don’t say you know the person.

“He may be your friend, he may be your son, sister mother or father. I don’t want to go into that.

“In three months, it is sad for someone to scatter a political structure that supported and brought you up.

You know what is painful? All these allegations, I smile. Who and who sat with him? In all your doings be grateful in your life no matter the circumstance. Nobody who is a gentleman and a politician will support this kind of thing.”

On his achievements as governor of Rivers State, wike said: “I was paying pensioner’s gratuity every month which were not paid by my predecessor. I took Rivers State to the level where you cannot discuss politics in Nigeria without Rivers State.

I was an ordinary minister when I became a governor. I challenged the sitting governor and I defeated his candidate. I worked hard.”

Speaking on the new requirements for acquisition of land in the Territory especially the introduction of National Identity Number NIN and Biometric Verification Number BVN to get a Certificate of Occupancy (C of O), the minister said the new features were for security and revenue generation.

“There are a lot of discrepancies, a lot of cloning of C-of-Os, so we have come up with an idea that every allottee who seeks and applies for a C-of-O must supply his NIN; this is one of the features we are going to put in the new C-of-O.

“If a corporate body doesn’t have an NIN and they have a property, they must put their BVN. So many persons have not registered, and this will make them go and re-register”, he stated.

Addressing the issue of existing landlords with C-of-Os, Wike stated that they would only be required to pay a nominal fee for recertification.

“For everyone who has a C-of-O, they will come for a recertification, so that we can incorporate the NIN or BVN.

“Those who had a C-of-O before don’t need to pay money again; the highest they can pay is N50,000, and corporate bodies will pay N100,000. It helps in terms of security; it also helps to improve our revenue generation.

“There are people who own seven properties, so this will identify them so they can pay taxes”, he added.

Kyari confirms Port Harcourt refinery will start working in December.

Kyari confirms Port Harcourt refinery will start working in December.

The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Mele Kyari has confirmed that the Port Harcourt refinery will start working in December 2023.

Kyari made the confirmation on Thursday during his meeting with the Speaker of the House of Representatives, Tajudeen Abbas.

He also informed Abbas that the rehabilitation of the state-run refineries is in serious progress, saying it would put an end to the importation of petrol by December 2024.

“I can confirm to you that by the end of December this year, we will start the Port Harcourt refinery,” Kyari said.

“Early in the first quarter of 2024, we will start the Warri refinery and by the end of 2024, the Kaduna refinery will come into operation.

“This is the commitment we are giving today, and you can hold us accountable for this.”

Kyari added that in 2024, many of the initiatives including the rehabilitation of Nigeria’s refineries and also the efforts of small-scale refineries as well as the upcoming Dangote refinery, will make the country a net exporter of petroleum products in 2024.

“We will no longer be talking about fuel importation by the end of 2024. I am very optimistic that this will crystallize,” the NNPCL CEO said.

I don’t like ingrates, Wike speaks on feud with Gov Fubara.

I don’t like ingrates, Wike speaks on feud with Gov Fubara.

The Minister of the Federal Capital Territory, FCT, Nyesom Wike, has opened up on the feud between him and his predecessor, Rivers State Governor, Sim Fubara.

Wike, referring to the crisis in the state, said money and power reveal the true identity of a person.

He made this known during a press briefing with journalists on Friday in Abuja.

“Let me tell you, I don’t like ingrates; I can’t stand it. What is happening now is what Odili said in his book: ‘Give a man power and money, then you will know the person.’

“If you haven’t given a man, power and money, then you don’t know the person. However, I’m not worried because I’m a politician. I know what other states are suffering because of debt, but go and check if I left liabilities; the records are there.

“I left projects for him to commission so he would showcase during his hundred days, then politics came in. We are just starting; God gave you something; you are now importing crisis.

“God gave this on the platter of gold; the Federal Government is not fighting you, no crisis, but you are the one now trying to create a crisis for yourself; only those who are natural ingrates will support what is happening there. I use the instrumentality of law to fight not thugs, time will come.”

Ondo lawmakers divided, push for Aiyedatiwa as acting Governor.

Ondo lawmakers divided, push for Aiyedatiwa as acting Governor.

The 26 lawmakers of the Ondo State House of Assembly have been polarised, following the lingering political crisis in the state, involving Governor Rotimi Akeredolu and his deputy, Hon Lucky Aiyedatiwa.

Vanguard gathered that 11 of the members have reportedly crossed over to the side of the embattled deputy governor.

The 11 lawmakers, in support of Aiyedatiwa, are now pushing that he be declared the acting governor.

A source told Vanguard that “the state House of Assembly members have been divided. 11 have crossed over to the side of Aiyedatiwa. They’ve been wooed by some forces in Abuja.

“They’ve planned a sitting for today (Friday), with the intention to declare Aiyedatiwa as the acting governor. But the president’s invitation stopped the plan.

When contacted, the Speaker, Rt Hon. Oladiji, who confirmed the meeting with President Tinubu, said the outcome of the meeting would determine the next line of action.

Oladiji said that “the scheduled Friday’s plenary was to declare Aiyedatiwa as acting governor and not to declare Akeredolu as incapacitated.

He said the meeting with President Tinubu would continue today.

Meanwhile, Vanguard gathered that the lawmakers have planned to hold a plenary session today (Friday) to discuss the political situation in the state.

A lawmaker who spoke with Vanguard in confidence said that the planned sitting to discuss the political logjam in the state had the approval of the national secretariat of the party.

According to him, “The lawmakers are ready to meet today (Friday), and one of the items on the agenda of the sitting is the declaration of Lucky Aiyedatiwa as the acting governor.

“Though some of us may not be at the plenary today because they are not in support of Aiyedatiwa becoming an acting governor, the national leadership of the APC knows about our decision. We may declare Aiyedatiwa acting governor today.”

Speaking on the development, the Chairman, House Committee on Information, Mr. Olatunji Oshati, confirmed the planned plenary but was evasive on the declaration of Aiyedatiwa as the acting governor.

Oshati said, “What I can tell you for now is that there is something like that—not to declare him (Aiyedatiwa) but the House is going to sit on the matter and review the political situation today as directed by our national leaders. 

He added that “the House is likely ( made the declaration), but not under must; I don’t want to preempt what the outcome of the meeting would be. If it is likely to happen, you are invited as well.”

This comes as President Bola Tinubu intervened in the political feud between Akeredolu and Aiyedatiwa.

Vanguard gathered that the President has invited the Speaker of the State House of Assembly, Rt Hon. Olamide Oladiji and members of the assembly to Abuja for a crucial meeting today (Friday).

Also invited to the meeting, according to a reliable source in Akure, are the state chairman of the party, Ade Adetimehin, and other state leaders of the party.

National Assembly members representing the state have been equally invited to the meeting.

Recall that the state assembly has served the deputy governor with an impeachment notice following alleged gross misconduct.

The deputy governor has subsequently challenged his impeachment in court.

Also, the continued absence of Governor Akeredolu in the state after his return from medical vacation abroad has further heightened the tension in the state.

Supporters of Aiyedatiwa threatened to protest last week if the governor failed to resume, and in the alternative, Aiyedatiwa be declared the acting governor.

Notable personalities, including the Pan Yoruba Socio-Political Group Afenifere, and traditional rulers, have appealed to the President to intervene in the political logjam.

The leader of Afenifere, Pa Reuben Fasoranti, had written a letter to the president during the week to urgently intervene to avoid a constitutional crisis.

President Tinubu Appoints Eight New Permanent Secretaries.

President Tinubu Appoints Eight New Permanent Secretaries.

In a significant move to strengthen the Federal Civil Service, President Bola Tinubu has given his approval for the appointment of eight new Permanent Secretaries. These appointments follow a meticulous selection process conducted by the Office of the Head of the Civil Service of the Federation.

The newly appointed Permanent Secretaries are:

Ndakayo-Aishetu Gogo

Adeoye Adeleye Ayodeji

Rimi Nura Abba

Bako Deborah Odoh

Omachi Raymond Omenka

Ahmed Dunoma Umar

Watti Tinuke

Ella Nicholas Agbo

President Tinubu, in expressing his confidence in the new appointees, highlighted their emergence at the top of a pool of qualified candidates after a diligent assessment process. He expects these seasoned professionals to leverage their expertise and competence in executing the Renewed Hope mandate. The goal is to revitalize service delivery across all Federal Ministries, Departments, and Agencies, prioritizing the overarching interests of the Nigerian people.

Chief Ajuri Ngelale, the Special Adviser to the President on Media & Publicity, announced these appointments on November 24, 2023. The President's emphasis on competence and merit in the selection process underscores the administration's commitment to fostering efficiency and excellence in public service.

The newly appointed Permanent Secretaries are anticipated to bring a wealth of experience and strategic thinking to their respective roles. Their responsibilities include spearheading initiatives that align with the Renewed Hope agenda, ultimately contributing to the betterment of the Nigerian populace.

As the nation charts a course towards progress and development, these appointments underscore President Tinubu's dedication to ensuring that the civil service is equipped with capable leaders. The expectations are high that the new Permanent Secretaries will play a crucial role in advancing the administration's vision for a renewed and responsive public service.