Nigeria technically in recession –Finance Minister Chukwu David Abuja
T
he Minister of Finance, Mrs. Kemi Adeosun, has con-
firmed that the Nigerian economy has gone into recession. The minister, while appearing before the Senate
yesterday, also said that the Muhammadu Buhari administration inherited negative reserve from the immediate past adminis-
tration, alleging that the Peoples Democratic Party (PDP) government owed contractors N390 billion, while outstanding cash call
debt was $5 billion. This was as the President of the Senate, Bukola Saraki, lamented the lack of synergy between the
Investors jittery over half-year financial results
executive and the legislative arms of government in governance in the present administration. Adeosun made the confirmation yesterday while
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CONTINUED ON PAGE 3
Sanctity Of Truth
NIGERIA’S MOST AUTHORITATIVE NEWSPAPER IN POLITICS AND BUSINESS
Friday, July 22, 2016
FG, 14 firms sign $1.75bn solar power agreements }7
/newtelegraph /newtelegraph
Vol. 3 No. 884
Fashola
Sex scandal: US didn't present video evidence }5 –Foreign Minister
Onyema
11 die as Danfo bus crashes in Lagos }9
@newtelegraph1 www.newtelegraphonline.com @newtelegraph1 www.newtelegraphonline.com
Troops kill 45 Boko Haram suspects, rescue 80 hostages –Army }10
N150
Buratai
Avengers: Oil workers must leave Niger Delta now }2
...blow Qua Iboe export pipeline We’re talking with militants –Buhari
‘I rent out my three-week-old baby to beggars for N1,500 daily’}9
Aregbesola
From left: (Front row): Former Deputy National Chairman of the Peoples Democratic Party (PDP), Nze Ozichukwu Chukwu; Mrs. Ifunanya Uzor Kalu; former Governor of Abia State, Dr. Orji Uzor Kalu and a presidential candidate for the Nigeria Bar Association (NBA) election, Chief Joe Kyari Gadzama. (Back row): Catholic Bishop of Oyo Diocese, Most Rev. Dr. Emmanuel Badejo and Catholic Bishop of Abuja Diocese, John Cardinal Onaiyekan, after a thanksgiving mass in Kalu's residence in Abuja...recently.
Scandal: How Dogara injected N20bn into budget –Jibrin Saraki placates Tinubu, opponents with juicy committees Chicken odour prevents malaria –Research }7
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