The Minister of Information and Culture, Alhaji Lai Mohammed, has revealed that Nigeria is gradually “clawing out of the woods of recession in weeks from now.”
Speaking on Saturday, on behalf of the minister, the Managing Director of the News Agency of Nigeria (NAN), Mr Bayo Onanuga, made the assertion at the biennial convention of the Nigerian Guild of Editors in Lagos.
He said that going by a recent statement by the Governor of the Central Bank of Nigeria (CBN), Godwin Emiefele, the country would exit recession by the end of June.
“There have been other pointers for the good news as well. For two consecutive months, the National Bureau of Statistics has also reported a fall in inflation rate.
“The exchange rate is regaining some sanity.
“As I said earlier, the worst appears to be over. We are clawing out of the woods of recession in weeks from now,“ he quoted the minister as saying.
Mohammed said that the Buhari administration and collective will of Nigerians had shamed doomsday prediction that our recession could worsen into a depression.
“I hope, in our various media, we shall begin to focus more on the positive developments in our economy, the growth in agriculture and mineral development, since the NBS last year, let out the secret that the Nigerian economy recorded a negative growth in the first quarter of 2016,“ he said.