Presidency: Nigeria on Her Way out of Recession

By Tobi Soniyi in Abuja
The Presidency has said that there are indications that the Nigerian economy is on its way out of recession considering the 2016 overall and last quarter Gross Domestic Product (GDP) reports.
The Presidential Adviser on Economic Matters, Dr Adeyemi Dipeolu, said this in a statement released by the Senior Special Assistant to the Acting President on Media and Publicity, ‎Mr Laolu Akande‎.
‎Dipeolu said that a review of the recent GDP figures released on Tuesday by the National Bureau of Statistics (NBS) showed a contraction of -1.30 per cent in the fourth quarter of 2016, translating into an estimated economic growth rate of -1.51 per ent for the full year.
‎According to him, these figures reflect the slow-down in the economy for most of 2016 but also showed that the recession may have bottomed out because of an improving trend in several key sectors.
Details later…