- The Nigerian Senate says it is commendable that the Nigerian economy grew by 0.55% in the second quarter of 2017
- Senate spokesperson, Senator Aliyu Sabi Abdullahi, states that the lawmakers are delighted that government’s response to the economic recession has begun to yield tangible results
- Abdullahi says that the Senate remains committed to seeing that the unemployment rate and high cost of living in the country is brought down
The Nigerian Senate has welcomed the report of the National Bureau of Statistics (NBS) which showed that Nigeria’s economy has come out of recession.
READ ALSO: Court refuses to order Nnamdi Kanu, IPOB not to disrupt Anambra election
The Senate in a statement its spokesperson, Senator Aliyu Sabi Abdullahi, on Tuesday, September 5, said it was commendable that after five consecutive quarters of contraction, the Nigerian economy grew by 0.55% in the second quarter of 2017.
Citing the NBS forecast, Abdullahi said the improved performance of the trade, manufacturing, agriculture and oil sectors, was an indication that aligned policy and legislative interventions, Nigeria’s economy could thrive beyond current forecasts and expectations.
The Senate spokesperson said: “We are delighted that government’s response to the economic recession has began to yield tangible results.
“The public will recall that in the days following the announcement of the 2016 recession, the Senate initiated steps and tabled 21 recommendations that it submitted to the executive for immediate action. We also listed out economic priority Bills, many of which have now been passed, or at the final stage.
PAY ATTENTION: Install our latest app for Android, read best news on Nigeria’s #1 news app
“We are also happy to note that many of the economic recommendations, specifically in the areas of retooling our agriculture and trade policies were adopted. This shows that the ‘all hands on deck’ approach was necessary from both branches on government"
Abdullahi restated the Senate's commitment to seeing that the unemployment rate and high cost of living in the country is brought down.
Read the full statement by the Senate below:
Meanwhile, as the federal government continues to celebrate that the country is out of recession, a political economist, Professor Pat Utomi, has said the situation is still fragile.
Utomi advised the government on ways to sustain the current positive economic outlook to include working closely with the private sector to engender growth.
The Nigerian Tribune quoted the professor as asking the government to focus on creation of jobs taking into consideration the growing population.
Watch this video of a market survey in Nigeria:
ROSY CREST
Wednesday 6 September 2017