IMF Cuts Nigeria’s 2019 Growth Forecast to 2% Obinna Chima The International Monetary Fund (IMF) has sliced Nigeria's Gross Domestic Product (GDP) projection for this year to two per cent, down from the 2.3 per cent it had predicted for
the country previously. The fund stated this in its World Economic Outlook (WEO) update titled, “A Weakening Global Expansion,” released yesterday. The multilateral institution attributed its decision to lower
the country’s growth projection by 0.3 percentage point to softening crude oil prices. The benchmark Brent crude price fell yesterday to $62.35 a barrel, while US crude futures were down 23 cents at $53.57 a barrel.
However, the IMF in the latest report anticipated that in sub-Saharan Africa, growth would pick up from 2.9 per cent in 2018, to 3.5 per cent in 2019, and 3.6 per cent in 2020. It said, “For both years the projection is 0.3 percentage
point lower than last October’s projection, as softening oil prices have caused downward revisions for Angola and Nigeria. “The headline numbers for the region mask significant variation in performance,
with over one-third of subSaharan economies expected to grow above five per cent in 2019–2020,” it explained. Continuing, the report stated: “Global growth in 2018 is estimated to be 3.7 percent, as Continued on page 6
Appeal Court Refuses to Stop Onnoghen's Arraignment … Page 8 Tuesday 22 January, 2019 Vol 23. No 8679. Price: N250
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PDP, Others Kick as FG Alleges Opposition Parties Mobilising Terrorists for Violence Presidency plotting to frame our leaders, says CUPP Iyobosa Uwugiaren, Shola Oyeyipo, Adedayo Akinwale and Udora Orizu in Abuja The Peoples Democratic Party (PDP) yesterday lead opposition parties and civil society groups to raise the alarm over alleged plot by the federal government to clamp down on their leaders under the guise of fighting insurgency.
The alarm bell rang, following the Minister of Information and Culture, Alhaji Lai Mohammed’s claim at a press conference in Abuja yesterday that the federal government had intelligence that opposition parties were gathering terrorists and armed bandits to cause mayhem in the country with a view to disrupt Continued on page 6
Presidency: Obasanjo Playing Last Political Game Tinubu, APC leaders hit former president over Buhari
Segun James in Lagos and Michael Olugbode in Maiduguri Barely 24 hours after former president, Chief Olusegun Obasanjo’s, scathing comments on President Muhammadu
Buhari’s administration, alleging sundry misgovernance and accusing the All Progressives Congress-led government of plotting to compromise the general election, the presidency Continued on page 8
INEC Uncovers Politicians' Fresh Strategy for Vote-buying ... Page 6
GETTING SET… L-R: Head, EU Delegation to Nigeria, Ambassador Ketil Karlen (left), and Chairman, Independent National Electoral Commission, Prof. Mahmood Yakubu, during a meeting between INEC and EU delegation on the commission’s preparedness for the forthcoming general election, in Abuja…yesterday JULIUS ATOI