Former Vice-President Atiku Abubakar says recession cannot be said to have ended until all Nigerians can afford three square meals.
He said this in reaction to the news that Nigeria had exited recession.
On Tuesday, the National Bureau of Statistics (NBS) announced that the country’s economy grew by 0.55% after five negative outlooks.
According to the gross domestic product report released by NBS on Monday, the economy recorded a positive growth after five consecutive quarters of contractions.
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Abubakar, who took to Twitter, expressed delight but said there is more work to be done “because inflation is still high”.
He, therefore, called a for continuous effort to expand economic opportunities for all Nigerians.
When all Nigerians can eat 3 square meals, that's when the real recession ends. We have work to do.
Advertisement— Atiku Abubakar (@atiku) September 6, 2017
As a Nigerian, investor and employer of labour, the news of Nigeria's official emergence from the recession is most welcome.
— Atiku Abubakar (@atiku) September 6, 2017
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The news is surely a boost for Nigeria – it tells investors, local and foreign, that our economy is worth investing in.
— Atiku Abubakar (@atiku) September 6, 2017
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While we rejoice, it's also important to recognize that economic weakness at the bottom of the pyramid remains. Inflation is still high.
— Atiku Abubakar (@atiku) September 6, 2017
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We must continue working hard to expand economic opportunity for all Nigerians.
Advertisement— Atiku Abubakar (@atiku) September 6, 2017
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Different reactions have trailed the NBS report on the exit of the nation from the worst recession in 29 years.
The Peoples Democratic Party (PDP) said the news is not worth celebrating until harsh living conditions improve.
However, Yemi Kale, chief executive officer (CEO) of NBS, said the effect of Nigeria coming out of recession will not be immediately felt by the people.
“There is a different stage Nigeria must go through before the masses will feel the effects of going out of recession,” he said.
“Out of recession is the first step which is very important then the country can talk of economic recovery which is going back to where Nigeria was before the recession.”
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