The National Bureau of Statistics (NBS) said on Friday that Nigeria’s Gross Domestic Product (GDP) rose by 3.52 percent in the fourth quarter of last year.
The NBS stated this in the Nigerian Gross Domestic Product Report Q4 2022 released in Abuja.
This, according to the report, followed GDP growth of 2.25 percent and 3.98 percent recorded in the third and fourth quarters of 2021 respectively.
The NBS the GDP performance in the fourth quarter of 2022 was driven mainly by the services sector, which recorded a growth of 5.69 percent and contributed 56.27 percent to the aggregate GDP.
The agency said: “Although the agriculture sector grew by 2.05 percent in the fourth quarter, its performance was significantly hampered by severe incidences of flood experienced across the country.
“This accounted for lesser growth relative to the fourth quarter of 2021 which was 3.58 percent.
“The Industry sector was also challenged recording -0.94 percent growth and contributing less to the aggregate GDP relative to Q3 2022 and Q4 2021.
“Overall, the annual GDP growth rate in 2022 stood at 3.10 percent from the 3.40 percent reported in 2021.
“Thus, the performance of agriculture and industry reduced in 2022 relative to 2021, while the performance of the services sector improved in 2022.
“In Q4 of 2022, aggregate GDP stood at N56, 757,889.95 million in nominal terms
“This performance is higher when compared to the fourth quarter of 2021 which recorded aggregate GDP of N49,276,018.23 million, indicating a year-on-year nominal growth of 15.18 percent.’’
The network of Slovenian business clubs operating abroad is expanding and already covers virtually the whole world, including distant markets such as South America and Africa. This is good news for Slovenian companies interested in foreign markets.
The clubs’ strong support and proactive role is especially important in the current challenging economic situation, director of the Spirit investment promotion agency Rok Capl said at a meeting of the Slovenian clubs held on the sidelines of the the Nordic World Ski Championships in Kranjska Gora on 24 February.
Saša Leban, who is in charge of business affairs at the Prime Minister’s Office, said Slovenian clubs offered good support to Slovenian businesses abroad. “With the support of Spirit, they are becoming better known, more proactive, and important in the countries where they operate so they can be very helpful to Slovenian companies.”
Representatives of 17 business clubs presented their projects and opportunities on the markets where they operate. They stressed that companies should prepare well for entry into a new market and should not underestimate the costs of the entry.
The meeting concluded with one-on-one talks between companies and clubs from Austria, Belgium, Brazil, France, Croatia, Italy, Canada, Kosovo, Nigeria, Germany, Poland, the Netherlands, Slovakia, Serbia, Ivory Coast, Tunisia, Zambia and the US.
Spirit Slovenija has been providing funding to business clubs since 2008. This year, it has allocated EUR 450,000 for this purpose with a call for applications still open. Last year, the agency distributed EUR 450,000 among 15 business clubs.
The Austrian telecommunications group A1 has picked Slovenia as a test market for its fully digital mobile services provider. Called re:do, it is the first such provider in the country.
Re:do is part of A1, but has its own team, and A1 Slovenia says it will continue to provide the same services to individuals and companies as so far.
Mobile users will be able to switch to re:do via a mobile app and use either a digital or regular SIM card, which can be ordered by mail or bought at Petrol or OMV filling stations. Users can keep their existing number or pick a new one.
A single mobile package will be available for €15 a month, allowing unlimited calls, messages and data transfer in Slovenia, and unlimited calls and messages and 14 GB of data transfer in the EU.
Slovenia became the first market where re:do was launched on 20 February.
Alexander Kuchar, who is in charge of technology and business development at A1 Group, said the Slovenian market was suitable as a testing ground due to its strong competition and discerning customers.
A1 surveys have also found that Slovenians have very good digital skills. “If we’re successful here, we’ll be successful in other markets.”
The goal is to attract 100,000 users in three years, said re:do CEO Iliyan Dimitrov at the pre-launch press conference.
Re:do targets people who want to run as many errands as possible online and who like to be free; re:do subscription can be cancelled any time.
Alexander Kuchar said re:do wanted to offer more freedom and transparency without hidden costs. The app is to be upgraded regularly to meet users’ needs.
Global leaders and experts will share strategic insights on how policy, investment and innovation can be combined to support the development of the industry in Africa.
The 3-day deal-making platform will showcase investable African projects in both closed and open deal making environments. Connecting stakeholders to move the sector forward will be core to the objective of the Summit.
The interactive gathering will be followed by further networking during an off-site day of experiential activities in true Cape Town style.
The week will end with the exciting international Cape Town E-Prix, hosted for the first time in Africa.
Hungary’s OTP Bank has completed the acquisition of the entire equity capital of Slovenian lender Nova Kreditna Banka Maribor (NKBM), OTP said.
The purchase of NKBM, which has been completed on February 6, is the most significant acquisition in the history of OTP, the Hungarian group said in a statement on Monday.
With the transaction closing, OTP has around 30% share in the Slovenian banking market on a pro-forma basis, it said.
The European Central Bank (ECB) approved the acquisition of NKBM by OTP Bank on September 6. Slovenia’s competition protection agency gave the green light to the transaction on January 31.
NKBM, with a market share of 20.7% in terms of total assets as of September 2022 and more than 1,500 employees as of the end of 2022, is 80% owned by funds managed by affiliates of Apollo Global Management. The European Bank for Reconstruction and Development Bank (EBRD) owns the remaining 20% interest.Nova Kreditna Banka Maribor d.d. is among the biggest banks in SEE.
Unlocking African Mining Investment: Stability, Security, and Supply
Be in the place where the mining community comes together to spark change and drive investments in Africa. You can expect to delve into integral economic strategies, supporting supply chain security, and seizing investment opportunities capitalising on the commodities super cycle.
Discover what keeps the major players coming back year after year and what deal-making opportunities could be waiting for your company.
Mining Indaba will help address your business needs from energy transition to security of supply and the uncertainty across the mining lifecycle.
Mining Indaba welcomes ministers from across Africa and the globe to unify and bolster industry efforts through dialogue and collaboration.
Join the entire value chain from 6-9 February to be part of this essential moment in the African mining investment calendar.
