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Lai Mohammed: Nigeria Is Getting Out Of Recession Gradually

Lai Mohammed

Lai Mohammed has said that the Federal Republic of Nigeria is gradually moving out of the current recession the country is facing.

The Minister of Information and Culture Alhaji Lai Mohammed, represented by 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 Central Bank of Nigeria Governor, the country would exit recession by the end of June.

“There have been other pointers for the good nigerianews as well. For two consecutive months, the National Bureau of Statistics has also reported a fall in inflation rate.

“As I said earlier, the worst appears to be over. We are clawing out of the woods of recession in weeks from now, “   the minister said.

Lai Mohammed said that President 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 the Nigeria 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.

The minister said that recession was not peculiar to Nigeria.

He said that the United States of America had experienced 47 recessions, some regressing into depressions.

“Between 1980 and 2007 alone, the American economy experienced five recessions. The last one in 2007 was caused by the subprime mortgage crisis and led to the collapse of the US housing bubble.

Lai Mohammed urged the media to stop the blame game and educate Nigerians on the efforts being made to end recession.

“Informing the people that the government is working hard to end the recession will go a long way to give hope to the people.

“After all, it is said that”if you keep hope alive, it will keep you alive” the minister said. (NAN)


Rev Francis Waive

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