Nigeria’s Economic Recovery Excites Senate
The Nigerian Senate has applauded the report by the National Bureau of Statistics (NBS) which showed that Nigeria’s economy is recovering from the recession which it lapsed into several months ago. In a statement signed by Aliyu Sabi Abdullahi, spokesperson and Chairman of the Senate Committee on Media and Public Affairs, the Senate said it is commendable that, after five consecutive quarters of contraction, the Nigerian economy improved by 0.55% in the second quarter of 2017.
“The Senate received Q2 NBS economic report with great excitement,” the Senate spokesperson said. “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”, he stated.
The statement further notes that the improved performance of the trade, manufacturing, agriculture and oil sectors, shows that with the carefully aligned policy with legislative interventions, Nigeria’s economy could improve further.