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

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Wednesday, 19 April 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:

iyke david said...


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

Anonymous said...

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

Anonymous said...

In Theory or practical?????//???

LUCILE COCONUT OIL ABUJA 07059605320 Pin- 2BC6235E said...

I hope so!

Fity said...

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

Bravitudenaturals@gmail.com said...

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!

Cynthia Iyede said...

I pray so!

lastborn said...

In theoy

Anonymous said...

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

Peaches and Cream said...

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

SANDY NEKY said...

Gbam!

Justyswt said...

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

jelly said...

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

ola wealth said...

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

Dust Emy said...

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

The General's Wife said...

Soo relived!
Thank God!

The General's Wife said...

*relieved

Anonymous said...

Theory stupid apc

EkaTre said...

Says who, when things are still expensive mtheeew

NGALANGA said...

Na so

Sharon Aminu said...

OK
Things are still expensive

ukwu dimond said...

Things are more expensive everyday.

Rowland Dominic said...

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.

IJAY said...

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

doctor samba said...

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

Yori Yori Princess Loveme Jeje said...

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

Lagos shopper(for your personal shoppings and goods directly from the popular lagos markets to anywhere in naija,07030493148) said...

They can't say that yet,things are not back to the way it used to be nowhnnn!

Spanish Lantern said...

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.

Efe said...

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

Esther Orhoro said...

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

Anonymous said...

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.

Anonymous said...

Anakoheri.

Anonymous said...

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

Aivies Shawarma,BBQ,Small Chops,Asun&Cocktail. Lagos.For events booking,07030581673. said...

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.

EJIASINWEZEGINI said...

Akuko ifoo!

Anonymous said...

@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

Anonymous said...

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

Single Mom said...

This news is as fake as Kim Kardashian ass.



Long live SDK

Anonymous said...

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

JUIZILICIOUS said...

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.

The General's Wife said...

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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