‘Economy Performed With A Lower Negative Growth Than Predicted For 2016’ – NBS

The Oasis Reporters

March 2, 2017

The Nigerian economy performed slightly better, though with a negative contraction against the International Monetary Fund, IMF predicted figure of -1.8%.
The Nigerian Bureau of Statistics, NBS, had released a figure of
-1.5% contraction on Tuesday.

This has buoyed the hopes of The Special Adviser to the President on Economic Matters, Adeyemi Dipeolu, as he reacted to the NBS report.

Mr. Dipeolu says though the nation is still in the early stages of recovery, the economy, overall, performed better than expected in 2016.

To him, the figures may have reflected the “slowdown” in the economy for most of 2016, it indicated that the recession “may have bottomed out” because of an improving trend in certain key indicators .

“Overall, the Nigerian economy performed better than expected even though we are still in the early stages of recovery. It is indeed noteworthy that overall, 2016 growth was higher with a contraction at -1.5% than the -1.8% predicted by the IMF,” he said

Greg Abolo

Blogger at The Oasis Reporters.

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