President Muhammadu Buhari, on Tuesday, received Nigerien President, Mahamadou Issoufou in Daura, Katsina State, where he confirmed that Nigeria was out of recession.
“Nigeria is finally out of economic recession,” he said.
Buhari told newsmen after a closed door meeting with visiting Nigerien leader, Issoufou, that he was “very happy” to hear that the country was finally out of recession.
Buhari resumed official duties at the Presidential Villa, Abuja, after Sallah break at his country home, Daura in Katsina State. However, President Buhari said that the real impact of coming out of recession would be better felt when ordinary Nigerians experience changes in their living conditions.
In the same vein, the Kwara State Governor, Alhaji Abdulfatah Ahmed, via his tweeter handle, yesterday, expressed delight at the report that the nation is out of recession.
“Good news that Nigeria is exiting the economic recession. I’m hopeful that every home and family in Kwara State will soon feel the impact,” Ahmed tweeted via his twitter handle; @AbdulfataAhmed.
Also, the Speaker of the House of Representatives, Hon Yakubu Dogara, @YakubDogara said, “Gladdened by the latest NBS report indicating that Nigeria has finally exited recession. We must now channel efforts towards sustaining it,”
Similarly, former vice president, Atiku Abubakar, yesterday, who also expressed joy over the NBS report said recession will end when all “Nigerians can eat three square meals.”
In a series of tweets, the Waziri of Adamawa noted that a lot of work still needs to be done.
He wrote: “As a Nigerian, investor and employer of labour, the news of Nigeria’s official emergence from the recession is most welcome.
“The news is surely a boost for Nigeria – it tells investors, local and foreign, that our economy is worth investing in.
“While we rejoice, it’s also important to recognise that economic weakness at the bottom of the pyramid remains. Inflation is still high.
“We must continue working hard to expand economic opportunity for all Nigerians.
“When all Nigerians can eat three square meals, that’s when the real recession ends. We have work to do.”
National Bureau of Statistics (NBS) on Tuesday, announced that Nigeria was out of economic recession.
The NBS said this in a Gross Domestic Product (GPD) Report for Second Quarter 2017 released by the bureau in Abuja.
The NBS said that the nation’s GDP grew by 0.55 per cent (year-on-year) in real terms in the quarter, indicating the exit of the economy from recession.
The bureau said that figures indicated the economy was out of recession after five consecutive quarters of contraction since first quarter 2016.