I doubt if Nigeria truly exited recession – Atiku Abubakar

Former Vice President, Atiku Abubakar, has expressed doubts over Nigeria’s exit from economic recession.

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He made this known in his keynote address while picking the Silverbird’s 2017 man of the year award in Lagos during the weekend.

He said: “Last year, we celebrated the fact that we exited our first recession in 25 years. To me, that celebration was premature.

“After contracting for five consecutive quarters, Nigeria came out of recession in the second quarter of 2017 with a GDP growth rate of 0.55 per cent. In the third quarter, we fared better with 1.40 per cent.

“While this looks somewhat like we exited the recession, the reality is that when you factor in our population growth rate of 2.3 per cent, which is one of the highest in the world, have we really exited a recession? Technically, yes, but in reality, it is doubtful.”

It had earlier reported that during the same event Abubakar asked the President Muhammadu Buhari administration to work harder to improve the lives of Nigerians.

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