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Services, petrol refining sectors pilot GDP growth to 3.84%
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By Kayode Sanni-Arewa
This is fastest growth rate in three years, says Edun
Yusuf: economy on track
Uwaleke: real sector still slow
Experts last night expressed optimism about the economy with the 3.84 per cent year-on-year Gross Domestic Product (GDP) growth.
The government also renewed its commitment to faithfully implementing its economic policies which it credited for this development.
Tuesday, the National Bureau of Statistics (NBS) released the 2024 fourth quarter GDP outcome – 3.84 per cent, compared to the 3.46 per cent of Q4 2023.
Services and petrol refining sectors were the key drivers of the growth, according to the report.
Statistician-General of the Federation, Prince Adeyemi Adeniran, said the growth was 0.38 per cent points higher than the 3.46 per cent of Q4 2023.
Adeniran said: “The Gross Domestic Product (GDP) growth rate in real terms (Constant price) grew by 3.84 per cent in the fourth quarter (Q4) of 2024 on a year-on-year basis, which is 0.38 per cent points higher than the rate recorded in Q4 2023 (3.46 per cent
“The annual contributions of the economic sector showed that agriculture contributed 24.64 per cent in 2024, which is lower compared to its contributions which stood at 25.18 per cent in 2023.
“Similarly, the industry sector’s annual contribution was 18.47 per cent, which is also lower than the figure recorded for 2023 (18.65%).
“However, the services sector contributions for 2024 were 56.89 per cent, which exceeded the 56.18 per cent recorded for 2023.
The oil GDP grew by 1.48 per cent in Q4 2024, which showed a decline compared to 12.11 per cent recorded in Q4 2023, and the previous quarter of Q3 2024 which stood at 5.17 per cent.
“The oil sector accounted for 4.60 per cent during the quarter under review.
“The annual oil GDP for 2024 grew by 5.54 per cent, which is 7.75 per cent higher than the annual GDP recorded for 2023 (-2.22 per cent). while the annual contribution of oil stood at 5.51 per cent in 2024 higher than its contribution in Q4 2023 (5.40 per cent)
The fourth quarter of 2024 recorded an average daily oil production of 1.54 million barrels per day (mbpd), lower than the daily average production of 1.56 mbpd recorded in the same quarter of 2023 by 0.03 mbpd.
“On the contrary, the fourth quarter of 2024 production volume was higher than the third quarter of 2024 (1.47 mbpd) by 0.06 mbpd.
“The non-oil sector contributes 95.40 per cent to the GDP in Q4 of 2024 in real terms.
“This shows an increase on a year-on-year basis when compared to the same period of Q4 2023 which recorded 95.30 per cent.
“Similarly, the quarter under review exceeds the 94.43 per cent recorded in Q3 2024.
“The economic performance of the non-oil sector in Q4 2024 is attributed to the growth recorded in some economic activities, including rail transport & pipelines, metal ores, financial institutions, road transport, quarrying and other minerals, and insurance,
“On an annual basis, the non-oil grew by 3.27 per cent in 2024, which is higher than the rate recorded in 2023 which stood at 3.04 per cent, while in terms of aggregate contributions, the non-oil contributed 94.49 per cent in 2024, which is lower than the 94.60 per cent reported in 2023.”
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, expressed his satisfaction with the report, which indicates that the economy has achieved its fastest growth rate in three years.
In a statement for the ministry, Edun lauded the positive indicators, which he attributed to the effectiveness of President Bola Tinubu’s Renewed Hope Agenda and the resilience of the Nigerian economy.
We are pleased to see the continued growth momentum, both from a quarterly and annual standpoint.
“The expansion of the services sector and our ongoing efforts to strengthen food security through agricultural investments are yielding positive results,” the minister stated.
He assured of the government’s commitment to ensuring that economic growth translates into tangible improvements in the living standards of all Nigerians.
In pursuit of this goal, the Federal Government is actively implementing various initiatives, including the direct benefit transfer scheme aimed at providing immediate economic relief and support to the vulnerable.
News
Partial lunar eclipse expected to light up skies on Friday
Sky watchers across Africa and other parts of the world are expected to witness a partial lunar eclipse on Friday, according to the National Aeronautics and Space Administration.
The phenomenon, popularly known as a “blood moon,” will occur as the Moon passes through the Earth’s shadow, creating a striking reddish appearance during the eclipse.
NASA said the event will be visible in parts of the Americas, Europe, Africa and Western Asia between August 27 and 28, 2026.
According to the space agency, the eclipse will begin at 9:23pm Eastern Time when the Moon enters the outer region of the Earth’s shadow.
By 10:33pm ET, the Earth’s darker shadow will begin moving across the lunar surface, producing the appearance of a section of the Moon being gradually covered.
The eclipse is expected to reach its peak at about 12:12am ET, when more than 96 per cent of the Moon will be covered by the Earth’s shadow.
The celestial event will then gradually recede, with the Moon expected to completely leave the outer edge of the Earth’s shadow at about 3:01am ET.
NASA, in a notice published on its website, listed the August 27–28 event as a partial eclipse visible across the Americas, Europe, Africa and Western Asia.
News
ICPC reveals identities of four govt officials who aided ‘fake’ PFIPC
The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has revealed the identities of some civil servants who allegedly helped Adeniyi Adeyemi, the director-general of the now-disowned Presidential Foreign Intervention Promotion Council (PFIPC), to obtain government approvals and gain access to official financial and administrative systems.
This was contained in the ICPC interim investigation report on the PFIPC saga.
The findings by the ICPC revealed that Adeyemi was able to penetrate government structures through the help of forged documents and officials in several government institutions who processed its requests and facilitated approvals despite gaps in the required procedures.
Adeyemi began seeking formal recognition within government structures in November 2024 when he approached the Office of the Accountant-General of the Federation (OAGF) for an administrative code, self-accounting status and approval to open accounts with the Central Bank of Nigeria (CBN), supporting the applications with purported official documents, including an appointment letter, an establishment instrument, and a letter on State House letterhead allegedly signed by one Akanbi Adewale.Geographic Reference
However, ICPC investigators found that Akanbi Adewale did not exist. Forensic examination also showed that the letter attributed to him was signed by Adeyemi.
Despite these irregularities, the documents were used to process the applications.
According to Premium Times, the investigation probes the critical roles played by three civil servants in securing an authorised establishment and recruitment waiver for the PFIPC.Local News
The civil servants include Rose Achem, senior administrative officer to the director-general of the Budget Office of the Federation; Patricia Akhigbe, an assistant director in the Ministry of Budget and Economic Planning; and Mimi Abu, director of organisation design and development at the Office of the Head of the Civil Service of the Federation (OHCSF).
The findings revealed that Achem introduced Akhigbe to Abu as the head of human resources of the PFIPC, even though Akhigbe was an assistant director in the Ministry of Budget and Economic Planning.
The ICPC found that Achem, Akhigbe and Abu subsequently facilitated the purported council’s application for authorised establishment and recruitment waiver through the OHCSF.
Adeyemi, it was found, paid Akhigbe 500,000 naira during Easter in 2025. The payment was described in the evidence as a “thank you for your support.”
According to the anti-corruption agency, the authorised establishment was granted on the same day the three officials met.
No evidence existed that the PFIPC had formally applied for an authorised establishment and recruitment waiver. Instead, the three government officials proceeded with the approvals outside the required process.
The ICPC examined Abu’s role because her department is responsible for authorised establishment, manpower requirements and recruitment waivers for federal government organisations.
It said Abu oversees four units responsible for establishment and workforce planning, organisation design, job design and development, and rules and regulations.
The investigation found that Achem and Akhigbe met Abu on behalf of the PFIPC and presented what investigators described as forged establishment instruments and a forged appointment letter for Adeyemi.
Speaking to investigators, Abu reportedly described the controversial appointment letter, said to have been issued by the Chief of Staff to the President, as an “aberration”.Executive Branch
She added that she could not recall another government organisation presenting an appointment letter signed by the Chief of Staff.
The ICPC also examined the role of an official responsible for office allocation within the Office of the Secretary to the Government of the Federation (OSGF) named Aminu Abdullahi.
According to the ICPC findings, Abdullahi was responsible for coordinating the allocation of offices to political appointees within the OSGF.
Requests for office allocation are submitted to the Secretary to the Government of the Federation, processed through the Permanent Secretary, General Services Office, and subsequently referred to the Director, General Services, for necessary action.
It was gathered that a deputy director in General Services, Ibrahim Abdulkadir introduced Abdullahi to Adeyemi in March 2025 to guide the PFIPC ‘DG’ through the process of obtaining office accommodation at the Federal Secretariat after a request made on behalf of the PFIPC to the Economic and Financial Crimes Commission (EFCC) had not produced the expected result.
Investigators found that Abdullahi allocated offices previously occupied by the former Chief Economic Adviser to the President, Doyin Salami, at the Federal Secretariat Phase III for temporary use by the PFIPC without written approval.
An analysis of Abdullahi’s bank statement by Investigators showed that he received 3.25 million naira from Adeyemi in three tranches between March and November 2025.
News
Just in: Kwara Assembly Lawmaker Saba Gideon Dumps APC, Cites Lack Of Internal Democracy
Hon. Saba Yisa Gideon, a member of the Kwara State House of Assembly representing Edu State Constituency, has resigned his membership of the All Progressives Congress (APC) with immediate effect.
Gideon, who is also the Chairman of the House Committee on Livestock, announced his resignation in a letter dated August 19, 2026, addressed to the APC Ward Chairman of Tsaragi Ward 3 in Edu Local Government Area of Kwara State.
In the letter titled “Resignation of Membership of the All Progressives Congress (APC),” the lawmaker said his decision followed careful reflection and consultations with his constituents and key stakeholders.
He cited concerns over recent developments within the party, particularly issues relating to internal democracy, fairness and inclusiveness.
“I hereby formally resign my membership of the All Progressives Congress (APC), effective immediately,” Gideon stated in the letter.
He added, “This decision follows careful reflection and consultations with my constituents and key stakeholders. Recent developments within the Party, particularly concerning internal democracy, fairness, and inclusiveness, have led me to take this decision.”
The lawmaker, however, pledged to remain focused on his responsibilities to the people of his constituency, stressing that his resignation from the APC would not affect his commitment to public service.
“I remain committed to serving the people of Edu State Constituency, Kwara State, and Nigeria with integrity, dedication, and accountability,” he said.
Gideon also expressed appreciation for the opportunity to serve under the platform of the APC and for the support he received during his membership of the party.
“Thank you for the opportunity to serve and for the support received during my membership of the Party,” he stated.
On December 22, 2025, SaharaReporters reported that the Kwara State House of Assembly was embroiled in fresh controversy after suspending Gideon, the lawmaker representing Edu Local Government Area, over allegations that he leaked an audio recording to Ambassador Yahaya Seriki, a businessman and an APC chieftain with noted governorship ambitions.
Although the Assembly officially cited “unparliamentary conduct” as the basis for Gideon’s suspension, multiple sources in the House told SaharaReporters that the action was politically motivated and tied to deepening internal power struggles ahead of the 2027 elections.
Seriki, an APC chieftain widely believed to be nursing a governorship ambition, is reportedly at loggerheads with the Speaker of the House, Salihu Yakubu Danladi, whose own governorship aspiration has become an open secret in Ilorin political circles.
According to sources, the controversy erupted after Hon. Owolabi Rasaq, representing Share/Oke-Ode constituency, accused Gideon on the floor of the House of leaking sensitive legislative deliberations to Seriki.
One source explained that the alleged leak concerned a proposed motion seeking the revocation of Seriki’s mining licences in Kwara State, an issue said to have sparked intense behind-the-scenes lobbying and divisions within the Assembly.
The allegation reportedly began to unravel during plenary, with Owolabi himself admitting that he did not know who actually leaked the information.
Despite this admission, lawmakers sympathetic to the House leadership allegedly pressed ahead with calls for Gideon’s sanction, arguing that his close relationship with Seriki made him the “most likely” source of the leak.
Sources say the issue escalated from legislative disagreement to personal confrontation after an audio recording obtained by SaharaReporters captured a tense exchange between Speaker Salihu Yakubu Danladi and the suspended lawmaker.
In the leaked audio, the Speaker is heard warning Gideon to “play soft” and accusing him of talking too much.
Although the Speaker denied directly asking Gideon to support his alleged governorship ambition, the lengthy audio monologue repeatedly references political structures, party control, and loyalty.
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