FG Optimistic about the Economy


The Nigerian government is positive about the economy picking up based off indications from the second quarter.

This is according to a statement by the Laolu Akande, Senior Special Assistant-Media & Publicity to the Vice President.

He says the Q2 figures indicates growth in Agriculture and solid mineral sectors. The Q2 results also show a better balance than predicted by the IMF.

“The just released GDP figures for the 2016 second quarter by the National Bureau of Statistics while confirming a temporary decline, has also indicated an hopeful expectation in the country’s economic trajectory”, he says.

Speaking on the National Bureau of Statistics report, the Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu points out the contractions in the oil sector which he blamed on the vandalism and sabotage. And also that the Gross Domestic Product declined by -2.06% in the second quarter of 2016 on a year-on-year basis.

He echoes Laolu’s stance on the uptick in agricultural and solid minerals sectors. And says the economy will fare better in the second half of 2016 “because many of the challenges faced in the first half either no longer exist or have eased”.

Source: LIB

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