President Muhammadu Buhari on Wednesday explained how Nigeria under his leadership was pulled out from the grip of economic recession.


The president spoke during a presidential dialogue session held at the state banquet hall in Abuja.

“Through various monetary and fiscal measures, we restored economic growth, curbed inflation and shored up our external reserves,” Mr Buhari said in his welcome address. “We have witnessed eight quarters of consistent marginal growth of the economy over the past two and a half years.”

The Nigerian economy slipped into recession in early 2016.


This is largely because the country’s economy heavily relies on oil revenue. A slide in oil prices and low output due to renewed insurgency in the Niger Delta region had hit the country and plunged her into recession which threw businesses and families into hardship.

The National Bureau of Statistics (NBS) announced that the country was out of recession in September 2017 but many Nigerians still complained of economic hardship.

The statistics bureau would later in 2018 restate its position that the country was out of recession but said the exit would be felt gradually.


In his address, Mr Buhari said progress in the agricultural sector especially in food production and processing “through our food security and Anchors Borrowers Programmes was also key in pulling the economy out of recession.

He said the programmes provided concessionary credit facilities to farmers in crop production as well as large-scale investors in food processing and manufacturing.

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“To consolidate on these and other successes, we will continue to provide incentives that will facilitate investments and create jobs in key import substitution programmes.”


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Mr Buhari said the policy dialogue session was conceived to advise the government over the next four years.

“It is also to deliver our promises in a manner that reflects true changes to the livelihood of the people; and discuss and propose for Federal Government’s approval, key strategies and high impact initiatives to stimulate economic
growth and development.”


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Honesty and sincerity pays more than religion

This man sef

Who got us into the mess in the first place?

Who was/is responsible for the recession at first place?? Be Deceiving yourself...

Where is the tangible evidence of Nigeria stepping out of recession?
Banks are shutting down branches and indiscriminately laying off workers.
Cost of goods and services have skyrocketed, all the financial indices are not looking up either.

No enabling business environment, Power supply is epileptic, security is absent and the roads are a death trap.
How can business thrive in a land with non-feasible fiscal policies. Yet the interest rates on call deposits and Treasury bills keep falling while lending rates rise...still the loans are rarely even gotten.

Such a shame that propaganda and falsehood still thrives.
Sadly, urchins whose cerebral membranes have been parboiled by hunger and perpetual blind praise-singing will believe these lies and praise Baba for an imaginary feat.

God help Nigeria.

olaric:
Who got us into the mess in the first place?

Dr Goodluck ebele Jonathan And his goons

sarrki:


Dr Goodluck ebele Jonathan And his goons

Just like Chris Evans rightly noted;


There’s nothing more maddening than debating someone who doesn’t know history, doesn’t read books, and frames their myopia as virtue. The level of unapologetic conjecture I’ve encountered lately isn’t just frustrating, it’s retrogressive, unprecedented and absolutely terrifying.

God punish that idiot above me and also punish Buhari the liar.

Eeehen....back to topic;

Ogun kee all the mods that always ban my accounts in this forum.
Una know how much data I dey spend for Nairaland since 2007?

Idiats!

sarrki:


Dr Goodluck ebele Jonathan And his goons

Biko, don't consume yourself of this unnecessary hatred

Chaiii....And NwaAmaikpe mentioned @sarrki this evening....

Chaii

What a total waste of time reading this trash.

Of course okonjo iwella put us in that mess. Buhari who isn't in charge of his administration added to it.

olaric:
Who got us into the mess in the first place?