Nigeria’s recovery from recession is weak, feeble – PDP

The Peoples Democratic Party (PDP) has said Nigeria’s exit from recession does not call for any celebration.

The Nigeria Bureau of Statistics in its second quarter Gross Domestic Product report had said Nigeria has exited recession.

But the PDP said in a statement by its spokesman, Prince Dayo Adeyeye, in Abuja on Wednesday that the growth falls way short of the 6.54 per cent GDP growth in the corresponding quarter of 2014.

Adeyeye also said the current result falls significantly below the 3.96 per cent growth in Q1 2015, which was PDP’s last full quarter in office.

He added that the South African economy grew by 2.5 per cent after contracting by 0.3 per cent and 0.6 per cent in Q4 2016 and Q1 2017, respectively.

Adeyey said the recovery of Nigerian economy is weak and feeble.

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