The Nigerian Senate has said the
confirmation by the National Bureau of Statistics (NBS) that Nigeria is out of
recession shows the 21 recommendations it submitted to President Muhammadu
Buhari in 2016 were yielding results.
This is contained in a statement
signed by Senate spokesman, Sabi Abdullahi, on Tuesday.
The Senate said it was
commendable that after five consecutive quarters of contraction, the Nigerian
economy grew by 0.55 per cent in the second quarter of 2017.
Abdullahi added that the improved
performance of the trade, manufacturing, agriculture and oil sectors, was an
indication that with carefully aligned policy and legislative interventions,
Nigeria’s economy could thrive beyond current forecasts and expectations.
“The Senate received Q2 NBS economic
report with great excitement. We are delighted that government’s response to
the economic recession has began to yield tangible results.
“The public will recall that in
the days following the announcement of the 2016 recession, the Senate initiated
steps and tabled 21 recommendations that it submitted to the executive for
immediate action. We also listed out economic priority Bills, many of which
have now been passed, or at the final stage.
“We are also happy to note that
many of the economic recommendations, specifically in the areas of retooling
our agriculture and trade policies were adopted. This shows that the ‘all hands
on deck’ approach was necessary from both branches on government,” the Senate
spokesman said
He further noted that though the
nation is now out of recession, the Senate remains committed to seeing that the
unemployment rate and high cost of living in the country is brought down.
“The rising unemployment in the
country is an issue that is of much concern to all of us. Additionally, the
rising cost of food prices and basic services in the country still affects
millions of households.
“This is why we will continue to
work on our laws, specifically in the areas of access to credit to promote more
opportunities for small business owners; and opening up more sectors to private
sector participation, so that there will be more competition in our markets –
which will lead to lower prices.
“We will also continue to work
with the executive to ensure that our policy and legislative objectives, specifically
as they relate to the economy, are well-aligned,” Abdullahi said.
Bunch of thieves and liars see how fast they want to claim glory , nothing good ever comes from you people
ReplyDeleteYou will your words like Boko Haram has turned out to be.
ReplyDeleteWhy the call for celebration when the masses could not feel the effect of your jubilation? Let it flow down, then we shall sing your praise.
ReplyDelete