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Nigeria’s GDP Shrinks By 1.87 Percent In Q1 2020

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Nigeria’s Gross Domestic Product (GDP) recorded a shrink of 1.87 percent, year-on-year, in the first quarter of the year (Q1’2020) showcasing the impact of the COVID-19 pandemic on the economic activities across the country.

This represents a decline of 23 basis points when compared with the 2.55 percent recorded in the fourt quarter of last year (Q4’2020). It also represents 68 basis points when compared with the 2.10 percent recorded in the first quarter of last year (Q1’2019)

The Nigeria Bureau of Statistics (NBS) disclosed this in the Nigerian Gross Domestic Product Report (Q1 2020).

The report on Nigeria’s economic growth stated: “In the first quarter of 2020, Nigeria’s Gross Domestic Product (GDP) grew by 1.87%(year-on-year) in real terms.

“This performance was recorded against the backdrop of significant global disruptions resulting from the COVID-19 public health crisis, a sharp fall in oil prices and restricted international trade.

“The performance recorded in Q1 2020 represents a drop of –0.23% points compared to Q1 2019 and –0.68% points compared to Q4 2019, reflecting the earliest effects of the disruption, particularly on the non-oil economy. Quarter on quarter, real GDP growth was –14.27% compared to 5.59% recorded in the preceding quarter.

“In the quarter under review, aggregate GDP stood at N35,647,406.08 million in nominal terms.

“This performance was higher when compared to the first quarter of 2019 which recorded N31,824,349.67 million, with a nominal growth rate of 12.01% year on year.

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EFCC: New Documents Extracted Shows Yahaya Bello Allegedly Paid School Fees To The Tune Of $845,852,84 For His Family Members

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Still on the EFCC trailing on Ex Governor of Kogi State, Yahaya Bello, Documents serving as exhibits have shown how he allegedly paid school fees in advance for his family members already in the school and even those to be enrolled in future with hundreds of thousands of dollars withdrawn from the state coffers.

A letter from the American International School of Abuja to the Economic and Financial Crimes Commission (EFCC) has shown the school admitting that Bello, the former governor of Kogi State, paid $845,852,84 into their bank account since September 2021 as advance school fees for 4 family members from the present class until they graduate.

Payment was also made for any future student to be enrolled by the family.

The document alleges that the payment was made by Mr. Ali Bello, alleged to be the eldest son of Yahaya Bello.

In the document, the school stated that they have deducted the fees for the educational service already rendered to the Bello children in the institution and what is left is $760, 910, which would be refunded to an account provided by the EFCC as the commission continues investigation into alleged money laundering levelled against Yahaya Bello.

the school fees documented payment

The school also added that from the Bello family kids, “no further additional fees are expected in respect of tuition until they graduate from ASIA.”

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Niger State Prisoners Run From Facility After Rainstorm Brings Down Part Of Fencing

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Many prisoners serving time at the Suleja Correctional Centre, located in Suleja Local Government of Niger state, fled the facility after a rainstorm brought down a part of the inner fencing.

This incident happened as a result of the heavy rainfall which fell on Wednesday night. This led to a cell being torn down, providing incarcerated individuals with a chance at freedom.

Reporters gathered that security forces fired many shots in the air, attempting to scare the inmates out of hiding.

While the State Comptroller of Prisons declined to speak to the press, it has been noted that security has been beefed up on the Minna-Suleja and Suleja-Kaduna roads, including the Madalla axis to Abuja road, which is a likely escape route out of the state for the inmates.

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EFCC: Former Governor Of Kogi State, Yahaya Bello Fails To Show Up In Court, Says He Is Scared Of Arrest

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The embattled immediate past Governor of Kogi state, Yahaya Bello, says he would have appeared at the Federal High Court in Abuja to answer to the 19-count charge preferred against him by the Economic and Financial Crimes Commission, EFCC, but is afraid he would be arrested.

Though Bello was absent for his arraignment today April 23, His team of lawyers addressed the court on his behalf.

A member of his legal team, Adeola Adedipe, SAN, had this to say on his behalf;

“The defendant wants to come to court but he is afraid that there is an order of arrest hanging on his head,” Adedipe, SAN, submitted.

Adesipe then appealed to the court to set aside the exparte order of arrest it earlier issued against the former governor. The lawyer contended that as at the time the order of arrest was made, the charge had not been served on his client as required by the law.

He argued that it was only at the resumed proceedings on Tuesday that the court okayed substituted service of the charge on the defendant, through his lawyer.

“As at the time the warrant was issued, the order for substituted service had not been made. That order was just made this morning. A warrant of arrest should not be hanging on his neck when we leave this court,” counsel to the defendant added.

According to him, the Federal Government did not consult the 36 States of the federation before it enacted the EFCC Act through the National Assembly. He argued that section 12 of the 1999 Constitution, as amended, required the various Houses of Assembly of states to ratify the Act before it could become operative.

“This is a very serious matter that borders on the constitution and the tenets of federalism. It has to be resolved because as it stands, the EFCC is an illegal organization,” Bello’s lawyer added

However, EFCC’s lawyer, Mr. Kemi Pinheiro, SAN, urged the court to refuse the application, insisting that the warrant of arrest should not be set aside until the defendant makes himself available for his trial.

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