Nigeria’s exit from economic recession is a fulfilment of President Muhammadu Buhari ‘Next Level’ promises to Nigerians, the ruling All Progressive Congress (APC) said on Thursday.
Having slipped into recession with 6.1 and 3.6 per cent in the second quarter and third quarter of 2020 respectively, the National Bureau of Statistics in its fourth-quarter report released earlier today, said the country is out of economic recession.
The growth measured by Gross Domestic Product among other economic metrics was confirmed as weak by the bureau due to the consequential realities of the deadly coronavirus on the Nigerian economy.
Commendation
The APC interim National Secretary, John Udoedehe, in a statement on Thursday, said the growth gives credence to Mr Buhari-led administration promises to Nigerians.
“President Buhari promised Nigeria will exit the economic recession within a short time. That promise has been kept.
“Commendably, Nigeria’s exit from recession is the country’s first growth in three quarters amid the Coronavirus restrictions and consequent economic slowdown. It was not a fluke but as a result of well-planned measures lined up by the federal government to ensure a quick exit,” Mr Udoedehe said.
He cast doubt on the economic performance of past PDP-led governments and described its initiatives as a ”waste that has brought the country to its current struggle for economic survival”.
“Nigerians will agree that the past era of profligacy, voodoo economics and waste which brought our economy to its knees are fast fading. With continued support for the President Buhari government, the economy can only get better,” the party secretary said.
(NAN)