Headlines
UK Economy Slips into ‘Technical’ Recession
The United Kingdom slipped into a technical recession in the second half of last year after its economy registered two consecutive quarters of negative economic growth, official figures have shown.
The Office for National Statistics (ONS) announced through a statement on Thursday that Britain’s gross domestic product (GDP) shrank by 0.3 percent in the last three months of 2023, after contracting 0.1 percent in the third quarter.
It meant that the economy entered a technical recession, as defined by two or more quarters in a row of falling GDP.
It marked the first time the UK had entered recession since the first half of 2020 when the initial COVID-19 lockdown sent the country’s economy plunging into reverse.
The figures dealt a blow to Prime Minister Rishi Sunak, who had promised to grow the economy as one of his five priorities.
Chancellor Jeremy Hunt said inflation and high-interest rates were behind the output fall but insisted the economy was turning a corner.
He said: “While interest rates are high so the Bank of England can bring inflation down low growth is not a surprise.
“But there are signs the British economy is turning a corner; forecasters agree that growth will strengthen over the next few years.
“Wages are rising faster than prices; mortgage rates are down and unemployment remains low.
“Although times are still tough for many families, we must stick to the plan of cutting taxes on work and business to build a stronger economy.”
Shadow chancellor Rachel Reeves said the Prime Minister’s promise to grow the economy was in tatters.
“The Prime Minister can no longer claim credibly that his plan is working or that he has turned the corner on more than 14 years of economic decline under the Conservatives that has left Britain worse off.
“This is Rishi Sunak’s recession and the news will be deeply worrying for families and businesses across Britain,’’ he said.
The immediate-past Governor of Kaduna State, Nasir el-Rufa’i, has resigned from the ruling All Progressives Congress and defected to the Social Democratic Party (SDP).
In a statement he issued on Monday, El-Rufai expressed his disappointment with the APC’s leadership style, accusing the leadership of the party of straying from the progressive ideals of its founding members.
At this point in my political journey, I have come to the conclusion that I must seek another political platform for the pursuit of the progressive values I cherish. I have now decided to join the Social Democratic Party (SDP).https://t.co/31zBvVPkQf
— Nasir Ahmad El-Rufai (@elrufai) March 10, 2025.
He disclosed that he had expressed concerns both privately and publicly over the party’s trajectory in the past two years, but found no willingness among the current leadership to address the issues.
The former governor said: “Developments in the last two years on the part of those who currently control and run the APC to acknowledge, much less address, the unhealthy situation of the State.
“At this point in my political journey, I have come to the conclusion that I must seek another political platform for the pursuit of the progressive values I cherish.
“My eight-year tenure in Kaduna State was devoted to implementing progressive policies to advance human development. These records count for little in the current APC that has castrated its organs and treated its membership with contempt in the last two years, I find this no longer acceptable.”
El-Rufai said he submitted his resignation letter to his ward in Kaduna North Local Government Area of the North-West state.
He described the SDP as the platform for his future political engagements even as he called on his supporters and other concerned Nigerians to join him in the SDP, emphasising the need for a unified democratic platform to challenge the APC in future elections.
The family of the late General Sani Abacha has rebuffed claims made by former Head of State, General Ibrahim Babangida, that the late Abacha was responsible for the annulment of the June 12, 1993, presidential election.
In his recently launched autobiography, A Journey in Service, Babangida expressed regret over the annulment, acknowledging that the Social Democratic Party’s candidate, MKO Abiola, won the election.
Describing the annulment as an “accident of history,” IBB blamed military officers led by Abacha, who was then his Chief of Defence Staff, for the controversial decision, alleging that it was done “without his permission.”
Reacting in a Sunday statement signed by his son, Mohammed Abacha, the late dictator’s family dismissed IBB’s claims, insisting that Abacha was neither the Head of State nor the Commander-in-Chief at the time of the annulment.
The family accused Babangida of attempting to distort historical facts and shift blame.
“The decision to annul the election was made under the administration of General Ibrahim Babangida, who, as the then Head of State, held absolute executive powers and was solely responsible for the actions of his government,” the statement read.
“Any attempt to shift this blame onto General Sani Abacha, who was a very senior military officer within the regime, is a deliberate distortion of historical facts. For years, various actors have attempted to rewrite the history of that critical period in Nigeria’s democratic evolution.”
The Abacha family also urged Nigerians to be cautious of what they termed “revisionist narratives” intended to manipulate public perception for political gain.
“We urge Nigerians to be wary of revisionist narratives that seek to manipulate public perception for personal or political reasons.
“The memory of our late father and leader, General Sani Abacha, must not be tarnished by baseless accusations meant to absolve those who were truly responsible,” the statement continued.
In conclusion, the family slammed Babangida’s autobiography for failing to present an honest account of events, stating, “We regret that A Journey in Service missed the opportunity and failed to make history as a truthful and objective account of past events.
“As one public commentator aptly put it, honesty, sincerity, and integrity are virtues not commonly associated with the author.”
Senator Natasha Akpoti-Uduaghan has once again brought before the Senate a petition alleging sexual harassment from Senate President Godswill Akpabio. But this time, it was signed by her constituents.
During the plenary on Thursday, Senator Natasha was asked whether the matter was already before any court of law. But she said it was not. Following protocol, the lawmaker was directed to formally submit the petition, after which it was referred to the Senate Committee on Ethics, Privileges, and Code of Conduct for investigation.
The committee has been given four weeks to conduct its probe and report to the Senate.
This marks the second time the Kogi Central lawmaker has raised the allegation in the chamber. A previous petition was dismissed on Wednesday owing to procedural irregularities.
During the plenary on Thursday, Senator Natasha was asked whether the matter was already before any court of law. But she said it was not. Following protocol, the lawmaker was directed to formally submit the petition, after which it was referred to the Senate Committee on Ethics, Privileges, and Code of Conduct for investigation.
The committee has been given four weeks to conduct its probe and report to the Senate.
This marks the second time the Kogi Central lawmaker has raised the allegation in the chamber. A previous petition was dismissed on Wednesday owing to procedural irregularities.
