President Says ERGP Launched to Restore Economic Growth Yielding Results

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By Omololu Ogunmade

He said Economic Recovery and Growth Plan (ERGP) was launched to restore and sustain economic growth, saying the plan had started yielding fruits with the recent National Bureau of Statistics reports which showed that the economy grew by 1.95 per cent in the first quarter of 2018.

Describing the growth as a good performance when compared to -0.91 growth recorded in the first quarter of 2017 and -0.67 per cent in first quarter of 2016, he said the country’s foreign reserve had improved significantly from $29.6 billion in 2015 to $47.5 billion as of May, 2018 while inflation has been declining every month since January, 2017.