Presidency Speaks As Nigeria Officially Comes Out Of Recession.

The Presidency today, Tuesday September 5, reacted to the news of Nigeria’s exit from recession.

Laolu Akande, spokesperson to Vice President Yemi Osinbajo, in a statement said the Buhari Administration welcomes the news of Nigeria’s exit from recession with “cautious optimism and will continue to drive Nigeria’s economic growth by vigorously implementing the Economic Recovery and Growth Plan launched earlier this year by President Muhammadu Buhari.”

The National Bureau of Statistics had shown how the Nigerian economy came out of recession.

The statement also quoted the Special Adviser on Economic Affairs to the President, Adeyemi Dipeolu, as saying:

“The figures released by the National Bureau of Statistics for the second quarter of this year (Q2 2017) show that the economy grew in Q2 2017 by 0.55% from -0.91% in Q1 2017 and -1.49% in Q2 2016. This in effect means that the Nigerian economy has exited recession after five successive quarters of contraction.”