Nigeria already out of recession – Minister

Nigeria already out of recession - Minister

Minister of Finance, Kemi Adeosun, has stated the country is already out of recession “to an extent.”

She said this while speaking on African Independent Television (AIT).

“We are out, we’re out to an extent and we hope that the figures will reflect the fact that we’re out. We shouldn’t focus too much on when, what we should focus on is growth. Getting out of recession is not enough, we have to grow and grow aggressively.

“The ERGP has plans that will have us seeing seven or eight percent growth and that is the kind of growth we need for our population growth and I’d like to focus less on when we’ll get out of recession,” Adeosun said.

The Minister also added that President Muhammadu Buhari’s administration, recovers loot daily.

“It’s a process that we are reconciling and I’m sure that very soon, we will put out some data; I think Lai Mohammed put out some figures and since then we have improved our reconciliation methods and we have an asset tracking team.

“I’m confident that very soon we’ll put out updated figures of course recovery changes day to day because on a daily basis, money is being recovered from various places but soon we’ll put out comprehensive figures on that.

“The recovered funds are still with me, part of it is to be used for budget. The acting president has insisted that we identify projects in the budgets that will have national impact so we are going through the budget to identify and release funds for that especially in the area of health. Stolen funds will be used for capital projects, not paying of salaries,” Adeosun remarked.



  1. That is a BIG LIE AS INFLATION IS STILL IN THE TWO DIGITS. Prices of foodstuffs has not come down but is increasing inatead e.g Garry a staple food!

  2. Really , Minister you don’t even know basic Macro Economics if what you are saying is true!! Mtcheeeeeeeew . Inflation and unemployment both of which are at record high are indices to disprove your claim. As a graduate of LSE I CHALLENGED YOU TO PRODUCE STATISTICS TO BUTTRESS YOUR POSITION.

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