GDP recorded 0.82% growth in 2017 - NBS

 The National Bureau of Statistics on Tuesday released the full-year 2017 Gross Domestic Product growth rate for the country, with the economy growing by 0.82 per cent. The 0.82 per cent growth in GDP was an improvement over the contraction of -1.58 per cent, which the economy recorded in 2016 during the period of recession. The bureau, in the report that was made available to our correspondent, said the economy further consolidated its recovery from recession with the GDP growing by 1.92 per cent in the fourth quarter of 2017, as against 1.4 per cent in the third quarter. It stated, “The nation’s GDP grew in Q4 2017 by 1.92 per cent year-on-year in real terms, maintaining its positive growth since the emergence of the economy from recession in Q2 2017. This growth is compared to a contraction of -1.73 per cent recorded in Q4 2016 and a growth of 1.40 per cent recorded in Q3 2017. Quarter-on-quarter, the real GDP growth was 4.29 per cent. “The year 2017 recorded a real annual growth rate of 0.83 per cent, higher than -1.58 per cent recorded in 2016.” The NBS report added that the economy in the fourth quarter recorded aggregate GDP of N31.2tn in nominal terms, which was higher when compared to N29.16tn in the corresponding fourth quarter of 2016. In the fourth quarter of 2017, the report added that oil production averaged 1.91 million barrels per day, noting that this was 0.12 million barrels lower than the daily average production recorded in the third quarter. For the non-oil sector, the report stated that it grew by 1.45 per cent in real terms during the fourth quarter of last year, as it recorded an annual growth rate of 0.47 per cent compared to -0.22 per cent in 2016. The growth in the non-oil sector, according to the report, was driven mainly by agriculture (crop), trade, transportation and storage. In real terms, the non-oil sector contributed 92.83 per cent to the nation’s GDP, lower from the 93.25 per cent share recorded in the fourth quarter of 2016. It noted that the overall GDP growth in the fourth quarter of 2017 was driven by the rise in crop, crude and natural gas, metal ores, construction, transportation and storage, trade, electricity and gas production. For instance, the report stated that crop production grew by 4.58 per cent in the fourth quarter of 2017 compared to 3.19 per cent in the third quarter. Crude production, it noted, grew by 8.38 per cent in the fourth quarter compared to 25.89 per cent in the previous threequarter

NESF MEDIA REPORTER

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New minimum wage Implementation begins third quarter -FG

The implementation of the new national minimum wage would commence in the third quarter of this year, the Federal Government announced on Monday. According to the Minister of Labour and Employment, Chris Ngige, the negotiation committee for the new minimum wage for workers had received memoranda from all stakeholders involved in the process, adding that implementation should begin later this year.

 READ ALSO: Chinese girl rides bicycle from Morocco to Lagos, recounts ordeals Ngige spoke at the 40th anniversary celebration of the Nigeria Labour Congress in Abuja.

 “Well, we all know the economic situation of the country as of today. The negotiation committee has members from all the tripartite bodies, which means the government cannot force its way.
 The committee has received memoranda from all the critical stakeholders and should begin the implementation of a new minimum wage in the third quarter of this year,” he said. Early this month, the Federal Government had said it would prepare a supplementary budget to take care of workers’ demand for increase in salaries when the new minimum wage proposal was eventually approved. The Director-General, Budget Office of the Federation, Ben Akabueze, had stated that the fact that there was no provision yet in the 2018 budget proposals currently before the National Assembly to cater for the planned increase did not, in any way, suggest that the government was not willing to increase the workers’ salaries.

 The NLC had made a proposal for N56,000 for the least paid worker to the Federal Government’s committee on the minimum wage. The 30-member committee headed by a former Head of Service of the Federation, Ms. Ama Pepple, was inaugurated in November last year by President Muhammadu Buhari. Akabueze explained that when an agreement had been reached on the new minimum wage, the financial implications would be worked out and a supplementary budget would be prepared for its implementation. In his address at the anniversary celebration, the President, NLC, Ayuba Wabba, warned those working against the realisation of the new minimum wage within the government that labour would resist their antics. Meanwhile, the Speaker of the House of Representatives, Mr. Yakubu Dogara, said on Monday that lawmakers were prepared to support the payment of living wages to workers in the country. He urged the NLC to continue its negotiations for living wages for workers as the labour body commemorated its 40th anniversary. Dogara was quoted in a statement by his media office to have stated, “The major challenge facing the organised labour today is to negotiate a meaningful national minimum wage for Nigerian workers. I wish to lend the support of the House of Representatives to the ongoing efforts to secure not only a living wage for the Nigerian worker, but also to ensure that in retirement, workers are sufficiently taken care of.

 In October 2017, members of the HOR suggested on the national minimum wage of N18,000 to N30,000. They made the call while debating a motion on the urgent need for the Federal Government to intensify its wage review plans with labour in a bid to avoid a major nationwide industrial action. The current minimum wage of N18,000 came into effect in 2011, but lawmakers said no Nigerian worker could survive on that. The motion was moved by a former union leader, Mr. Peter Akpatason, a member of the All Progressives Congress from Edo State. Akpatason had informed the House how the government appeared unwilling to push the wage review plans. For instance, he said an agreement by the government and labour unions to begin the process was not being implemented. During the October debate, lawmakers agreed that the N18,000 minimum wage was no longer realistic, suggesting at least N30,000 as the new minimum. One of the members, Mrs. Ayo Omidiran, argued that a government that was committed to fighting corruption and crime should consider paying workers realistic wages a priority. At Monday’s event, Wabba noted that the labour movement was ready to participate fully in Nigeria’s political activities in 2019, as it would resuscitate the Labour Party with a view to providing a veritable platform for labour activists to seek elective positions. He said, “It was because of this understanding that we created the Labour Party. We are not yet disillusioned with developments within the party as we are mindful of the obvious fact that each organisation has its peak and low periods in its natural process of growth.

 We, therefore, call for unity of its members and urge all workers to register, claim it, control and have it as their party.” The President, Trade Union Congress, Bobboi Kaigama, charged labour activists to develop more than an interest in politics, stressing that it was only when labour wrestle power from career politicians that it would be empowered to better the lots of the working masses.



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2018 session Economics Student payments

2018 FIRST/SECOND SEMESTER ESTIMATION ON SCHOOL FEE PAYMENTS AND BREAKDOWN!!!!

FOR MEMBERS OF NESF


E MEANS *ELECTIVE*
C MEANS *COMPULSORY*
 2UNIT-#2000
 3UNIT-#2500
Exam Registration per course#1000
 PROJECT REGISTRATION FEE -#15000

100L First Semester
 GST101 #2000 C
 GST105 #2000 C
GST107 #2000 C
 ECO121 #2500 C
ECO153 #2500 C
FMS105 #2000 C
CRD124 /ENT101 #2000 E
 CSS111/POL111/PCR111/PCR113 #2500 E
 CIT101(CIT104) #2000 C

Course Reg Fee- #19500
 Exam Reg Fee- #9000 
Compulsory Fee - #36000 
TOTAL PAYMENT -#64500

100L Second Semester

Gst 102 #2000 C
Eco 122 #2500 C
Eco 154 #2000 C
Eco 146 #2500 C
FMS106 #2000 C
Cit 102 #2000 C
CSS121/PCR114/CSS134/POL126 #2500 E

 COURSE REG FEE- #15,500 
EXAM REG FEE- #7000 
COMPULSORY FEE- #18000 
TOTAL PAYMENT- #40,500

200L First Semester

Gst 203 #2000 C
Eco 231 #2000 C
Eco 253 #2500 C
Eco 255 #2000 C
Eco 247 #2500 C
ACC203 #2500 C
BUS205 /FMS207/BFN209 #2500 E
PCR211/POL223 #2500 E

Note:- You're to pick two electives
COURSE REG FEE - #18,500
 EXAM REG FEE- #8,000 
COMPULSORY FEE - #18,000 
TOTAL PAYMENT - #44500


200L Second Semester
GST 202 #2000 C
ECO 232 #2000 C
ECO 254 #2500 C
ECO 256 #2000 C
ENT204 #2000 C
ECO292 #2000 C
ACC204 #2500 C
CRD208/CRD204 #2000 E

COURSE REG FEE- #17,000 
EXAM REG FEE- #8000 
COMPULSORY FEE- #18000 
TOTAL PAYMENT- #43000



300L First Semester 

Gst 301 #2000 C
Eco 341 #2500 C
Eco 343 #2500 C
Eco 355 #2500 C
Eco 347 #2000 C
Eco 329 #2500 C
Eco 311 #2500 C
POL317/BUS325/ECO323 - #2500/#2000/2000 E

COURSE RED FEE- #19,000 
EXAM REG FEE- #8,000 
COMPULSORY FEE- #18,000 
TOTAL PAYMENT - #45,000


300L Second Semester 

Eco342 #2500 C
Eco332 #2000 C
Eco324 #2500 C
Eco356 #2500 C
Eco348 #2000 C
Eco314 #2500 C
ECO344 #2500 C
 ECO346/CRD334 #2000 E

COURSE REG FEE- #18500
EXAM REG FEE- #8000 
COMPULSORY FEE - #18,000 
TOTAL PAYMENT =#44,500

 400L First Semester

Eco431 #2000 C
Eco453 #2000 C
Eco445 #2000 C
Eco427 #2000 C
Eco447 #2000 C
Eco443/459/449#2000 E
Eco441 #2000 C
Eco415 #15000 C

COURSE REG FEE- #29,000 
EXAM REG FEE- #7,000 
COMPULSORY FEE - #18,000 
TOTAL PAYMENT- #54,000

400L Second Semester 

 ECO444/ENT424 #2000 E
ECO442 #2000 C
ECO452 #2000 C
ECO448 #2000 C
ECO446 #2000 C
ECO454 #2000 C
ECO442 #2000 C

COURSE REG FEE- #14,000 
EXAM REG FEE- #7,000 
COMPULSORY FEE- #18,000 
TOTAL PAYMENT - #39,000

 TOTAL UNIT PER SEMESTER 
100L (1ST) - 16(C), 5(E) =21UNIT
100L (2ND) - 14(C), 3(E) = 17UNIT
 *TOTAL=38UNITS*

 200L (1ST)- 15(C), 5(E)=20UNIT
200L (2ND)- 13(C), 2(E) =15UNIT
*TOTAL=35UNITS*

 300L (1ST)- 19(C) , 2(E)=21UNIT
300L (2ND)- 19(C), 2(E)= 21UNIT
*TOTAL=42UNITS*

 400L (1ST)- 18(C), 2(E)=20UNIT
 400L (2ND)- 12(C), 2(E)=14UNIT
*TOTAL=34UNITS*

 UPON GRADUATION YOU MUST EARN 149UNITS  or 150 above to be on a safer side (You will only add some Elective courses to boost your GP)


 *NOTE* Kindly calculate yourself, you might see error.

Signed
Adekola Olaotan
National Academic Dir NESF


Co Signed
Ade M Ayomide 
National President NESF

Compiler NESF MIS TEAM

Dated 27/02/2018

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Notice Of Appointment

NOTICE OF APPOINTMENT

This is too inform all our dear members that the President has signed the establishment of the Adhoc Committee on Mobilization which is submissive to the President and the NWC It is with our happiness that the below members has been considered for appointment.

*SouthWest* _(Ekiti,Lagos, Ogun, Ondo, Osun,Oyo)_
 +Kalejaiye Sehindemi - Dir
+Osoba Toyosi -

 *SouthEast*_(Abia,Anambra,Ebonyi,Enugu,Imo)_
Jacinta Chidinma- Dir +
Onyimmadu Chinedu

 *North Central*_(Benue,Kogi,Kwara,Nasarawa,Niger,Plateau,FCT)_
 +Paul Rimamsirufun -Dir +

*North East:*_(Adamawa,Bauchi,Borno,Gombe,Taraba,Yobe)_
+Aliyu Musa- Dir +

 *North West:* _(Jigawa,Kaduna,Kano,Katsina,Kebbi,Sokoto,Zamfara)_
Basiru Alh Sani - Dir +

 *South South:*_(Akwa Ibom,Cross River,Bayelsa,Rivers,Delta,Edo)_
 +Peace Ezinne- Dir
 + Ajah Innocent

This Appointment is for selfless service to the Forum/Society at large.

 Kindly accept this with utmost Joy from the President. To validate your Appointment kindly get your Appointment Code from the President on Acceptance/Rejection.

 Thanks

Signed
For President 02/02/2018 (11:45am)î

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