Stella Dimoko Korkus.com: Nigeria Is Officially Out Of Recession

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Wednesday, April 19, 2017

Nigeria Is Officially Out Of Recession

After almost a year of negative growth that resulted in the collapse of businesses, the Nigerian economy is looking up, signalling an end of the recession, the World Economics, said yesterday.






However, the body cautioned that “conditions remain difficult for businesses,”

The Special Adviser on Media Matters to the Minister of Budget and National Planning, James Akpandem, said statistical analyses and economic experts’ assessments clearly indicated that the economy was coming out of recession.

“The latest report from the National Bureau of Statistics which details significant aspects of economic activities in the first quarter of this year, clearly showed that inflationary trends are coming down, while the major fundamentals are increasingly showing positive outlook.

“That showed that the economy is coming out of recession,” Akpandem said.

Nigeria’s economy receded at the end of Q2 in 2016 after falling oil prices ate deep into the country’s earnings and caused the naira to weaken thereby causing inflation to spiral upward. Spates of attacks on oil installations in the Niger Delta by militants, who were protesting for better deals from the government, almost crippled oil production.

But the government’s recent engagements in the oil-rich region, spearheaded by Vice President Yemi Osinbajo, has seen attacks on oil facilities petered out, at least, for now.

Edited from The Nation

41 comments:


  1. Out of recession but business remain bad.
    No need of celebration now.

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    Replies
    1. This is false news. They should stop with the lies please. I don't know of other places, but in my area life is almost unbearable.

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    2. @anon 09:48 the fact that life is almost unbearable in your area is that the basis of calculating whether a country of out of recession or not? Help you brain out of its own recession please

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    3. When I first heard of recesssion. I don't understand until
      3 months later, so in 3 months I guess things will come back for good

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  2. Like seriously! With all this moneies without owners all over the country... Naija I hail

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  3. In Theory or practical?????//???

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  4. Amen ooo,but let it not be like animal farm,we need physical evidence, not what is written or spoken

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  5. Lies,out of recession yet rice never go back to it price things are still expensive and businesses are still finding it hard to keep their heads up. This people are jokers!

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  6. These people are funny. Things are getting even worse and they say we're finally out of recession?

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  7. Coming out or out of recession? Where do they stand? Akpandem said,"the country is coming out". Anyhoo,Amen. I believe

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  8. When it starts reflecting on goods sold then I'll believe it.

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  9. Want to see the physical evidence first, but i pray it true

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  10. Make I pack my load dey come baq ooo😂😂😂😂

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    1. You better remain where you are. Rice no even dy here to chop

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  11. Oooh they were waiting for ikoyigate before they announce that we are out of recession.

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  12. Replies
    1. Favorite BV Mbok let me burrow space under your comment.

      They claim we are out of recession yet things are still quite expensive. The Naira keeps staggering against the dollar. Well I just hope and pray things normalize soon.

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    2. Yes dear Rowland,I know things are still expensive. But my dear,things aren't as Sky-rocket-expensive as they were before.
      I pray Things normalise. And soon too.

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  13. Says who, when things are still expensive mtheeew

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  14. Things are more expensive everyday.

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  15. Hmmmmmmm, we ain't seeing/feeling it yet ohhh

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  16. Sometimes I feel like leaving the shores of this country...I'm getting sicker of this mess by the day...

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  17. They should stop lies ooo. A paint of garri is N950. Make una dey talk true small.

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  18. Hmm....coming out of recession? How. Did they read it in the stars. I pray its true. Coz I want to write my market list without sweating so much.

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  19. When the average Nigerian says the recession is over then it is over. Till then they should keep their lies to themselves!

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  20. I won't believe until those expensive things that weren't expensive before the recession come back to normal

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  21. Keeping hope alive is one thing that keeps us going in Nigeria... Speculations are good but let this appearance become reality in the shortest possible time. Until then,we are really praying for market prices to nose dive.

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  22. This news is as fake as Kim Kardashian ass.



    Long live SDK

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  23. Why won't they say it's out of recession, when another campaign is around the corner.Mtcheew

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  24. officially but not physically or or realistically cos the last time I checked a paint of garri is still 800 naira so wats wit all this recession propaganda.

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