EXITING RECESSION: It’s not yet Uhuru – Udoma

THE Minister for Budget and National Planning, Senator Udoma Udo Udoma, has declared that it is not yet
uhuru for Nigerians as regards the much-talked-about the economy’s exit from recession as recently certified by the National Bureau of Statistics (NBS).
Making the disclosure yesterday, at a retreat organised by the Nigerian Institute of Social and Economic Research, NISER, Ibadan at the Training and Conference Centre, Ogere, Udoma remarked that the NBS numbers was only challenge for Nigerians to work harder so that the country can achieve the 7% growth rate desirable for total economic breakthrough by the year 2020.
Specifically, the minister enjoined Nigerians to be more steadfast and join force with government in the determination to change the national economic trajectory in a more fundamental way as encapsulated in the Economic recovery and Growth Plan, ERGP, launched by President Muhammadu Buhari on the 5th of April this year.
Udoma remarked that even though the Federal Government was scheduled exiting recession for the 3rd Quarter of 2017, the Government was “encouraged by the NBS 2nd Quarter numbers which showed that the economy had already exited recession.”
The minister declared: “Whilst this news is very encouraging, we appreciate that there is still a lot of work required for us to realise the full promise of the ERGP which is to have a rapidly growing economy with diversified sources of growth, increased opportunities for all our people, and a socially inclusive economy that reduces poverty and create jobs for the millions of young people entering the labour market, annually. In short, our job is not done until we have realized Nigeria’s full potential as a major player in the world economy.”
Speaking earlier, the Director-General of NISER, Dr. Folarin Gbadebo-Smith explained the objective of the retreat which was to critically discuss how to reposition and reinvigorate the Institute for effective delivery of its mandate.

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