Nigeria’s getting out of Recession, says Lai Mohammed | Touch Latest Local,World,Tech,Entertainment,Health,Sport News
24 September 2017 00:00:00 AM Breaking News

• NIGERIA

Nigeria’s getting out of Recession, says Lai Mohammed

Minister of Information and Culture, Alhaji Lai Mohammed, said on Saturday that  Nigeria was gradually moving out of recession.

Mohammed, represented by the Managing Director of the News Agency of Nigeria (NAN), Mr Bayo Onanuga, made the assertion at the biennial convention of the Nigerian Guild of Editors in Lagos.

He said that going by a recent statement by the Central Bank Governor, the country would exit recession by the end of June.

There have been other pointers for the good news as well. For two consecutive months, the National Bureau of Statistics has also reported a fall in inflation rate.

“ The exchange rate is regaining some sanity.

“ As I said earlier, the worst appears to be over. We are clawing out of the woods of recession in weeks from now, “   the minister said.

Mohammed said that the Buhari administration and collective will of Nigerians had shamed doomsday prediction  that our recession could worsen into a depression.

“ I hope, in our various media, we shall begin to focus more on the positive developments in our economy, the growth in agriculture and mineral development, since the NBS last year, let out the secret that the Nigerian economy recorded a negative growth in the first quarter of 2016, “ he said.

The minister said that recession was not peculiar to the country.

He said that the United States of America had experienced 47 recessions, some regressing into depressions.

“ Between 1980 and 2007 alone, the American economy experienced five recessions. The last one in 2007 was caused by the subprime mortgage crisis and led to the collapse of the US housing bubble,” he said.

Mohammed urged the media to stop the blame game and educate Nigerians on the efforts being made to end recession.

“ Informing  the people that the government is working hard to end the

recession will go a long way to give hope to the people.

“After all, it is said that ”if you keep hope alive, it will keep you alive” the minister said. 

Recommended

Loading...

Related Posts

Kogi Gov. Yahaya Bello names road after slain Col. Abu Ali

Kogi State Government on Friday named the 50-km Shintaku-Gboloko-Dekina Road in

Read More

2 killed in Ekiti communal clash – Tribune NewsPaper

TWO young persons, said to be of the same parents, were killed in a clash on F

Read More

Saraki’s trial Legislator tasks anti-graft agencies

A member of the House of Representatives, Rep. Babajimi Benson (Lagos-APC), ha

Read More

Two feared dead, seven injured in Lagos road crashes

Two people were feared dead while seven others, including a policeman, sustained

Read More

IGP orders immediate removal of illegal roadblocks in Nigeria

The inspector General of Nigerian Police Mr. Ibrahim Idris, on Sunday

Read More

APC won’t ignore clamour, says party chairman

Onyebuchi Ezigbo in AbujaThe National Chairman of the All Progressives Congres

Read More

Apapa-Oshodi road repair: NUPENG says depots outside must be functional

The Zonal chairman of the Nigeria Union of Petroleum and Natural Gas Workers, To

Read More

18 Suspects Arrested For Civil Unrest In Two Kaduna Communities

Samuel Aruwan, Abuja: Security agencies in Kaduna have arrested 18 persons

Read More

Army Troops Repel Boko Haram Attack On Adamawa Towns

Troops of the Nigerian Army successfully repelled Boko Haram attack on Madagali

Read More

Supporters accuse Gov. Aregbesola of being behind Adeleke’s sudden death

Supporters of the late first civilian Governor of Osun State, Alhaji Isiaka Ad

Read More

Also Read

Whistleblowing helping fight against corruption — Keyamo

Human Rights lawyer and activist, Festus Keyamo, has lauded the whistleblowi

Read More

1-Year-Old Beaten To Death At A Daycare By An 8 Year Old Girl

A mother has been left heartbroken following the death of her 1-year-old son in

Read More

Man Tweets Mumbai Police About Car With 'Lal Batti'. See The VIPs Inside

"VIP culture. The occupants claimed that it is bomb squad & is permitted. La

Read More

Five die as plane crashes into supermarket

Five people died when a Swiss-registered light aircraft crashed into a super

Read More

Euro Paper Talk Juventus agree deal with Arsenal for Wojciech Szczesny

With the season over, clubs around Europe are trying to strengthen their side ah

Read More

Gracilis Transposition: Treating Complex Perineal Fistulas (Video)

Gracilis transposition is an effective technique for repairing complex p

Read More

Rohingya Child Disappearances Spark Trafficking Fears

A spate of disappearances among the children of displaced Rohingya in Bangla

Read More

Billionaire kidnapper Evans sues IGP, others

HOME  NEWS  BILLIONAIRE KIDNAPPER EVANS SUES IGP, OTHERSNEWS

Read More

Photos: Meet This Lagos Big-Boy Who can Give Hushpuppi A Run For His Money

I’m sure some of you heard ‘Mompha’ in 9ice hit song ‘Living Things’ W

Read More

Elon Musk and Disney boss quit Trump's business panel over Paris pullout

may think tackling climate change is bad for business. But business?

Read More