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After Recession, Economy On Stable Growth — Zainab by ChelseaArmy(m): 10:50am On Feb 25, 2021 |
The Minister of Finance, Budget, and National Planning,
Hajiya Zainab Ahmed, has said Nigeria’s exit from
recession is a key indicator that the country is poised for
stable and consistent growth.
The minister said this on Wednesday while briefing State
House reporters after the Federal Executive Council (FEC)
meeting presided over by President Muhammadu Buhari.
She said the exit from recession was an indication that the
diversification efforts were yielding results and that there
has been a vigorous implementation of the Economic
Sustainability Plan (ESP) approved by FEC last June with
Vice President Yemi Osinbajo leading the drive.
Nigeria’s economy unexpectedly came out of a recession
in the fourth quarter as growth in agriculture and
telecommunications offset a sharp drop in oil production.
Gross domestic product grew 0.11% in the three months
through December from a year earlier, compared with a
decline of 3.6% in the third quarter, the Abuja-based
National Bureau of Statistics said on its website last week
Thursday.
“This is one of the shortest lived recessions we have
witnessed in the country, despite the impact of the
COVID-19, but I must say that the result of this exit is as a
result of the fiscal policies, the monetary policies and the
Economic Sustainability Plan that the administration of
President Muhammadu Buhari has been implementing.”
Zainab said from the 46 sectors of the economy, 17
recorded positive growth and this is higher than the number
of sectors that had recorded positive growth in the third
quarter.
She also said the Agricultural Sector posted a strong
growth of 3.42% during the last quarter and when you
compare to the previous quarter, it’s a much better
performance.
Overall, the non-oil sector grew by 1.69%. This is an
indication that the diversification efforts that the economy
has been pushing is actually also posting results; while the
oil sector is declining, the non-oil sector is growing.”
https://dailytrust.com/after-recession-economy-on-stable-growth-zainab
mynd44 oam4j lalasticlala |
Re: After Recession, Economy On Stable Growth — Zainab by ChelseaArmy(m): 10:50am On Feb 25, 2021 |
God Bless our economy God Bless Buhari God Bless Nigeria |
Re: After Recession, Economy On Stable Growth — Zainab by Mynd44: 11:33am On Feb 25, 2021 |
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