heykims:
I don't like economics
Their terminologies confuse and bore me..
I don't get doe from that write-up upstairs

WenysAD:
Until paint of garri comes down to #200 and bag of rice come down to #8000, then I will know we are out of recession
Shior!!

Sweetguy25:
The man said recession doesn't concern unemployment. Is he daft?

rhektor:
This is whee I always have problems with our government, the prices of goods shoot up they claim it was caused by recession now we heard that no more recession but the prices are still up. Who is deceiving who? They will now come and be speaking some grammar to confuse us. If you can not explain it to a five years old then you too don't understand it. Please our government should try to always tell us the truth about what is going on. Enough of all these Lai Mohammed things

mfm04622:


Price increase is really caused by inflation and not recession. Your economy can be growing while you have inflation. Different things

Temilayhor:
The end of Recession to me is when the price of a bowl of rice comes down to #300..

rhektor:


Another grammar, tell us using simple terms don't confuse yourself by trying to confuse us.

MaziOmenuko:
When NBS declared that we have entered recession with facts to back it up, everyone accepted that fact, even the government in power accepted that fact. The government didn't call it a campaign of calumny nor evil agenda of political detractors. It accepted that fact, accepted responsibility and promised to improve the economy.

Now, the same NBS that declared recession has said we are out of it with data to backup their facts but some people have decided to play politics with it (including Atiku) and are now saying it is a lieand that it was politically motivated, bla bla bla. Everyone is now talking as if mannar and qual were falling down from heaven for us prior to the recession saga. Atiku is saying food must be on the table of everyone for us to know we are out of recession as if during the non-recession era, everyone had it soo good; we are now acting as if everything was okk before the recession, like we had constant electricity, good roads, portable water, good and consistent healthcare, quality and consistent education, until recession came and scattered everything.



Funny enough, nobody demanded for all these explanations when he declared we were in recession. We accepted that fact, now he has to explain and explain and explain...kai!

Guilderland1:
What is he saying, abeg let them pay me today for my mmm.

Please were can I open electronic shop in the north?

I want to invest

mfm04622:


Price increase is really caused by inflation and not recession. Your economy can be growing while you have inflation. Different things

anonymuz:
maiduguri will be very good to start your investment.

Temilayhor:
The end of Recession to me is when the price of a bowl of rice comes down to #300..

cstr1000:

It took the international community to declare Nigeria in recession before the NBS actually did. I am certain they didn't want to.

maxiuc:
They are deceiving themselves and their zombies


According to Mr Atiku
3 square meal a day

3 square meal a day


Stomach is very important

MaziOmenuko:


Haba nau, u don't need to lie to butress your point. The international community will not declare any nation in recession, they will only re-echo what the authorised body in the country has said. If you understand what and when a country is said to be in recession, you will understand that it's only NBS that can publish such figures and make such declaration.

MaziOmenuko:
When NBS declared that we have entered recession with facts to back it up, everyone accepted that fact, even the government in power accepted that fact. The government didn't call it a campaign of calumny nor evil agenda of political detractors. It accepted that fact, accepted responsibility and promised to improve the economy.

Now, the same NBS that declared recession has said we are out of it with data to backup their facts but some people have decided to play politics with it (including Atiku) and are now saying it is a lieand that it was politically motivated, bla bla bla. Everyone is now talking as if mannar and qual were falling down from heaven for us prior to the recession saga. Atiku is saying food must be on the table of everyone for us to know we are out of recession as if during the non-recession era, everyone had it soo good; we are now acting as if everything was okk before the recession, like we had constant electricity, good roads, portable water, good and consistent healthcare, quality and consistent education, until recession came and scattered everything.



Funny enough, nobody demanded for all these explanations when he declared we were in recession. We accepted that fact, now he has to explain and explain and explain...kai!

9japrof:
NBS and useless statistics, most of these statistics are merely fabrication and do not represent what's on ground.

If there is real growth on paper, we should feel it on ground.

obailala:
That means Nigeria has been in recession since 1970...

maxiuc:
oga it wasn't bad as it is today

Nigga are you a zoms

Truth234:
The Statistician-General of the Federation and Chief Executive, National Bureau of Statistics, Dr. Yemi Kale, on Wednesday explained why Nigerians were not feeling the real impact of the positive economic growth rate on their lives.

Kale attributed the non-impact of the exit from recession on the citizens to the structure of the economy, which is still largely driven by oil.

He said while the economy might have recorded a growth rate of 0.55 per cent in overall Gross Domestic Product for the second quarter, not all the sectors did well in terms of productivity.

For instance, the NBS boss explained that out of the 42 economic activities that were used to measure the GDP growth rate, 21 recorded decline in productivity, while the rest performed better than they did in the first quarter.

He said the 21 of those economic activities that recorded slowdown in performance were those that ordinary Nigerians relate with on daily basis.

For instance, the NBS boss said while the manufacturing sector grew by 0.64 per cent in the second quarter, there were some segments of the sector that did not do well.

He gave some of them as manufacturing, which contracted by -10.88 per cent; motor vehicle and assembly, which contracted by -19.72 per cent; electrical and electronics, which contracted by -1.7 per cent; and chemical and pharmaceutical products, which declined by -0.98 per cent.

In addition, wood and wood products contracted by -2.09 per cent; pulp, paper and paper products, -1.85 per cent; and cement, -4.16 per cent.

Kale explained, “Recession is not about the price of your goods, not whether unemployment is going up or down, not whether you have quality education, it’s purely your Gross Domestic Product; your outputs of goods and services in the economy are going down.

“And the GDP is an accumulation of 46 different economic activities in Nigeria and the overall number, whether positive or negative, will determine whether you are in recession or out of recession.

“Now, within those 46 activities, some sectors will do very well and will be positive; some will do badly, some will do worse, and some will stay the same way they are.

“Depending on who you are in the society, what we publish is the aggregated total of everybody. So, even in that same report, you will see that 21 sectors were negative and there are other sectors that did well.”

He advised that with the economy being out of recession, there was a need for the government to work assiduously to ensure recovery by taking the growth rate to where it was before the decline in performance.

After this is done, he said the next stage would be to sustain the growth and take it beyond the rate of recovery.

The NBS boss explained that in as much as the GDP growth rate was still lower than the population growth rate, the real impact of such economic growth would not be felt significantly.

He said that its GDP report, which showed that Nigeria exited recession in the second quarter, was not doctored or politically motivated.

Kale explained that the NBS was an agency of government that was independent to carry out surveys and publish its findings based on international best practices.

The NBS boss faulted those making claims that the outcome of the report might have been influenced by political considerations, adding that none of the reports of the agency was influenced politically.

Kale said even at the risk of not being reappointed at the tail end of his tenure, economic reports that were not in favour of government activities were published by the agency, adding that if he did not doctor reports then, there was no basis to do so now.

He said, “In this administration, I am the one that published that we were in recession, and I am also the one that is saying we are now out of recession.

“I don’t think there is any inconsistency in what the NBS does in terms of politics. The recession announcement came two months to the renewal of my tenure. Now, if it was political, will I come and tell the government that wants to renew my tenure that inflation is in double digit?

http://investorsking.com/nigerians-havent-felt-impact-exit-recession-nbs-boss/