The Chairman of the Peoples
Democratic Party, PDP, Caretaker Committee, Senator Ahmed Makarfi, has reacted
to report that the country is out of recession.
The former Kaduna State Governor
dismissed the celebration that accompanied the report.
He stressed that the news of the
exit was a mere statistics, which did not reflect the “reality as it affects
ordinary Nigerians.”
“For any economic recovery to be
meaningful, it must positively impact on the lives of the people at the lower
level,” he told Punch.
Recall that the National Bureau
of Statistics, NBS, had on Tuesday said Nigeria’s economy was now out of
recession as Gross Domestic Product, GDP, returned to positive growth.
NBS disclosed that the nation’s
GDP grew by 0.55 per cent in real terms in the second quarter of 2017.
According to NBS, Nigeria’s GDP
shrank by 0.52 per cent, year-on-year, in real terms in the first quarter of
2017, representing the fifth consecutive quarter of contraction since the first
quarter of 2016.
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