â€¢ Atiku hails exit from recession
Onyebuchi Ezigbo in Abuja
The All Progressives Congress (APC) has described the exit of the country from recession as a proof that the ruling party is living up to its promise to Nigerians.
The party said the latest disclosures by the National Bureau of Statistics (NBS) and the Central Bank of Nigeria (CBN) that the country has exited recession after five consecutive quarters of contraction and that the countryâ€™s foreign reserve has hit $32 billion, the highest mark since January 2015.
In a statement issued wednesday to celebrate the economic achievement, the National Publicity Secretary of APC, Mallam Bolaji Abdulahi, said the administration would remain focused on its effort to sustain the economy on the path of growth.
â€œNigerians will recall that during the 2015 elections, the APC promised to curb corruption, restore the economy and ensure security of the nation. We commend the administration of President Muhammadu Buhari on the economic recovery efforts which has evidently started to yield fruits,â€ the party said.
APC also commended the National Assembly for working with the executive in improving the economy and other areas of national life.
â€œCommendably, the countryâ€™s exit from recession was in tandem with the current administrationâ€™s forecast that the country will experience economic growth in 2017. This is another demonstration that the President Buhari APC-led administration is one that keeps its promises.
â€œThe APC thanks Nigerians for their patience, understanding and support for the President Buhari administration while the economy was in recession. Although there remains much more work to be done, we assure Nigerians that the administration remains focused on its effort to sustain the economy on the path of growth.
â€œAs the President Buhari administration works assiduously to build a new solid foundation, credible image and pull the country out of the present hardships, we appeal for continued patience and the cooperation from Nigerians. While these are difficult times for many Nigerians, we must sustain the hope that brighter days are ahead of us,â€ it said.
Also, former Vice President, Atiku Abubakar, has welcomed the exit of Nigeria from recession
He said as a Nigerian investor and employer of labour, the news of Nigeriaâ€™s official emergence from recession is a most welcome development.
Atiku said in a statement by his media office in Abuja yesterday that the news is surely a boost for Nigeria – â€œit tells investors, local and foreign, that our economy is worth investing in.â€
He, however, cautioned that while we must rejoice, itâ€™s also important to recognise that the economic weakness at the bottom of the pyramid remains, adding that inflation is still high
â€œWe must continue working hard to expand economic opportunity for all Nigerians.
â€œWhen all Nigerians can eat three square meals, thatâ€™s when the real recession ends. We have work to do,â€ he said.