Nigeria Will Exit Recession Soon - Minister of Finance, Zainab Ahmed

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said Nigeria will be out of the recession soon. Over the weekend, Nigeria slid into its worst economic recession in over three decades. Gross domestic product (GDP) numbers released by the National Bureau of Statistics on Saturday, November 21, indicates the nation recorded a contraction of 3.62 percent in the third quarter of 2020, causing it to slide into another recession. While speaking at the ongoing 26th Nigerian Economic Summit organized by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, and National Planning, on Monday, November 23, the Minister of Finance said the country would emerge from the recession in the fourth quarter of 2020 or by the first quarter of 2021. She blamed the recession on the global Coronavirus pandemic which has forced other economies in other countries into recession. Ahmed said other countries also in recession, including the United Kingdom, the

Minister: FG To Provide Technical Assistance To States On Mining

As part of measures to invest in the mining sector, Minister of Mines and Steel Development, Dr. Kayode Fayemi, has said that the ministry is set to provide logistics and technical assistance to state governments.

The Minister who disclosed this yesterday, when he received Ebonyi State Governor, David Umahi, in Abuja, said the diversification plan of the government would be better realised with states’ involvement in mining ventures.
“We want successful projects at state level. It will help us to showcase our seriousness in becoming a mining nation”, Fayemi,said, while lauding the governor’s commitment to tapping the mineral deposits in his state.
Fayemi, who together with the Minister of State, Honourable Abubakar Bawa Bwari, received Umahi, said the ministry’s budget for 2017 has captured exploration, reclamation of mining sites and organisation of artisanal miners, among other things that would reposition the sector.

The Minister commended the governor for making Ebonyi State a mining destination, saying that the state is a model for others to emulate.

He assured the governor that the Ministry has put together an environmental team to work on reclamations of mining sites for the welfare of the host communities.

Earlier, Umahi had stated that beyond agriculture, Nigeria would generate more revenue from mining, adding that more countries are looking towards Nigeria because of the mineral resources.
In a statement, Umahi said the state is willing to partner with UNIDO and the Federal Government to mine its huge deposit of salt and limestone.