• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

      EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences…

  • Fact-Check
  • Economy
    • Africa’s Economic Ties Deepen as Nigeria, Benin Sign Joint Trade Plan

      Customs Partners US Mission to Prevent Expanded Visa Ban

      Nigeria Customs Partners China on Smarter Ports, Officer Training, Reforms

      Comptroller General Nigerian Customs Bashir Adewale

      Customs Moves Against 223 Importers in N379bn Permit Breach

      Bashir Adewale Adeniyi Customs Boss

      How Customs is Tightening Borders to Stop Illicit Cash Flows –…

  • National
    • Peter Obi Reaffirms One-Term Presidential Vow, Says “My Word Is My…

      Nigerian Police Force

      PSC Denies Police Recruitment, Warns Against Fraudulent Online Claims

      Military Troops in Action

      Troops Raid Bandits Camps, Eliminate 1, Recover Motorcycles

      DSS, NNPCL and EFCC

      NNPCL Controversy: Arewa Economic Forum Raises Alarm as EFCC, DSS Refute…

      IPI Nigeria Demands Immediate Reopening of Badegi FM, Threatens to List…

    • Government
      • Peter Obi Reaffirms One-Term Presidential Vow, Says “My Word Is My…

        DSS, NNPCL and EFCC

        NNPCL Controversy: Arewa Economic Forum Raises Alarm as EFCC, DSS Refute…

        IPI Nigeria Demands Immediate Reopening of Badegi FM, Threatens to List…

        Group Chief Executive Officer (GCEO), Bayo Ojulari

        Purported Resignation: Who are after NNPC Boss Bashir Ojulari

        The Paramount Ruler of Oka-Akoko, His Imperial Majesty Oba (Dr) Yusuf Adebori Adeleye, OON, the Olubaka of Oka

        Olubaka of Oka Praises Foundation for “Best Oka Day” Festival

  • Security
    • Nigerian Police Force

      PSC Denies Police Recruitment, Warns Against Fraudulent Online Claims

      Military Troops in Action

      Troops Raid Bandits Camps, Eliminate 1, Recover Motorcycles

      Troops Kill 3 Terrorists in Borno, Recover Weapons, Motorcycles

      NDLEA Logo

      NDLEA Intercepts Cocaine, Tramadol Hidden in Vehicle Side Mirrors, Arrests Multiple…

      ICPC Boss, Musa Adamu and CG Customs, Bashir Adeniyi during his courtesy visit to ICPC office in Abuja

      Customs, ICPC Partner to Curb Smuggling, Boost Revenue Through Transparent Enforcement

  • Features
    • DSS, NNPCL and EFCC

      NNPCL Controversy: Arewa Economic Forum Raises Alarm as EFCC, DSS Refute…

      Tinubu’s Greek gift by Festus Adedayo

      CG Customs Bashir Adewale Adeniyi

      Customs Just Wrote Nigeria’s Energy Rulebook

      Okello Oculi

      Okello Oculi: A Pan-Africanist Asteroid Burns out Forever By Is’haq Modibbo…

      Leon Usigbe

      Death, you can’t be Proud of this By Abdulrahman Abdulraheem 

  • State
    • Prof Pate donates laptops to UNIMAID

      Prof Pate donates 20 Laptop Computers to UNIMAID

      Troops Kill 3 Terrorists in Borno, Recover Weapons, Motorcycles

      After ₦250m Ransom Demand, Security Guard Arrested for Murder of Caregiver,…

      court Judiciary

      Lawyer Sues Housing Ministry, FHA Over Alleged Property Redesign

      Army Commander keeps 100 students in school

      Army Commander’s Compassion Keeps 100 Students in School in Zamfara

  • Event
    • Prof Pate donates laptops to UNIMAID

      Prof Pate donates 20 Laptop Computers to UNIMAID

      D'Tigress Basketball team

      Will Presidential Gifts Follow as Nigerian Female Basketballers D’Tigress Reach 5th…

      The Paramount Ruler of Oka-Akoko, His Imperial Majesty Oba (Dr) Yusuf Adebori Adeleye, OON, the Olubaka of Oka

      Olubaka of Oka Praises Foundation for “Best Oka Day” Festival

      court Judiciary

      Lawyer Sues Housing Ministry, FHA Over Alleged Property Redesign

      Sam Obi Sponsors 500 students

      Sam Obi Sponsors 500 Students in Evergreen, SimplifiedIQ’s Education Program

    • PR Nigeria Award
  • E-Paper
Home National Nigeria exited recession in Q2 of 2017
  • National

Nigeria exited recession in Q2 of 2017

By
Akpandem James
-
September 20, 2017
Nigeria Flag
Nigeria Flag

Contrary to reports in some sections of the media on Tuesday that Nigeria’s economy will finally be out of recession in 2020, the economy actually climbed out of recession in the second quarter of 2017, as indicated by the National Bureau of Statistics (NBS).

The reports referred to a speech given by the Minister of Budget and National Planning, Senator Udoma Udo Udoma at a retreat organized by the National Institute of Social and Economic Research (NISER) on Monday. It was learnt that correspondents of the newspapers in question got their story second-hand from a syndicate source in Ibadan. The Minister never said so.

At the retreat which none of the affected newspapers was represented, the Minister spoke of the state of the economy and steps taken towards recovery and eventual diversified inclusive growth. He was happy that efforts made so far are yielding fruits as evident in the economy climbing out of recession in the second quarter of 2017, earlier than anticipated.

He explained that even though initial permutations were that the country will be exiting recession by the third quarter of 2017, it was heartwarming that the Second Quarter NBS GDP Report indicated that the economy was already out of recession.

Read Also:

  • Peter Obi Reaffirms One-Term Presidential Vow, Says “My Word Is My Bond”
  • PSC Denies Police Recruitment, Warns Against Fraudulent Online Claims
  • Prof Pate donates 20 Laptop Computers to UNIMAID

While saying that the news of exiting recession was encouraging, he pointed out thatthere is still a lot more work required to realise the full promise of the Economic Recovery and Growth Plan (ERGP), which is to have a rapidly growing economy with diversified sources of growth, increased opportunities and a socially inclusive economy that reduces poverty and creates jobs for young people entering the labour market annually.

“Our job is not done until we have realized Nigeria’s full potential as a major player in the world economy, he added.”

The reference to 2020 was made when the Minister was explaining the principles and objectives of the ERGP (2017 – 2020) and government’s commitment towards restoring growth from a negative trend in 2016 to 7% by 2020.

He therefore emphasized the need for Nigerians to partner with government through investments in human capital development, through job creation and also in production of quality goods to make them competitive, since one of the aims of the ERGP is to build a globally competitive economy.

He said government is targeting the achievement of 7% growth in Gross Domestic Product (GDP0 by the end of the plan period which is the year 2020.

Signed

Akpandem James

Special Adviser (Media) to the Hon. Minister

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
Previous articlePolice Launch Scheme on Legal Right of Detainees
Next articleFG and Sokoto State Government Sign MOU to Improve Healthcare Services in the state
Akpandem James
Akpandem James
https://prnigeria.com
PRNigeria is the pioneer Press Release Distribution agency in Nigeria. A member of image Merchant Promotions limited, PRNigeria encourages individuals and organisations to be more transparent in their information management. with dedicated Editorial staffs, the PRNigeria ensures that information provided on its platforms are timely, factual and authoritative Read more at: //prnigeria.com/about/
Facebook Twitter

RELATED ARTICLESMORE FROM AUTHOR

Peter Obi Reaffirms One-Term Presidential Vow, Says “My Word Is My Bond”

Nigerian Police Force

PSC Denies Police Recruitment, Warns Against Fraudulent Online Claims

Military Troops in Action

Troops Raid Bandits Camps, Eliminate 1, Recover Motorcycles

DSS, NNPCL and EFCC

NNPCL Controversy: Arewa Economic Forum Raises Alarm as EFCC, DSS Refute Claims

IPI Nigeria Demands Immediate Reopening of Badegi FM, Threatens to List Governor Bago in Black Book

Tinubu’s Greek gift by Festus Adedayo

Troops Kill 3 Terrorists in Borno, Recover Weapons, Motorcycles

NDLEA Logo

NDLEA Intercepts Cocaine, Tramadol Hidden in Vehicle Side Mirrors, Arrests Multiple Suspects Nationwide

ICPC Boss, Musa Adamu and CG Customs, Bashir Adeniyi during his courtesy visit to ICPC office in Abuja

Customs, ICPC Partner to Curb Smuggling, Boost Revenue Through Transparent Enforcement

Police Spokesperson Muyiwa Adejobi Promoted to DCP

Group Chief Executive Officer (GCEO), Bayo Ojulari

Purported Resignation: Who are after NNPC Boss Bashir Ojulari

D'Tigress Basketball team

Will Presidential Gifts Follow as Nigerian Female Basketballers D’Tigress Reach 5th Consecutive AfroBasket Final?

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Peter Obi Reaffirms One-Term Presidential Vow, Says “My Word Is My Bond”
  • PSC Denies Police Recruitment, Warns Against Fraudulent Online Claims
  • Prof Pate donates 20 Laptop Computers to UNIMAID
  • Africa’s Economic Ties Deepen as Nigeria, Benin Sign Joint Trade Plan
  • Troops Raid Bandits Camps, Eliminate 1, Recover Motorcycles
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Peter Obi Reaffirms One-Term Presidential Vow, Says “My Word Is My Bond”PSC Denies Police Recruitment, Warns Against Fraudulent Online ClaimsProf Pate donates 20 Laptop Computers to UNIMAIDAfrica’s Economic Ties Deepen as Nigeria, Benin Sign Joint Trade PlanTroops Raid Bandits Camps, Eliminate 1, Recover MotorcyclesNNPCL Controversy: Arewa Economic Forum Raises Alarm as EFCC, DSS Refute ClaimsIPI Nigeria Demands Immediate Reopening of Badegi FM, Threatens to List Governor Bago in Black BookTinubu’s Greek gift by Festus AdedayoTroops Kill 3 Terrorists in Borno, Recover Weapons, MotorcyclesNDLEA Intercepts Cocaine, Tramadol Hidden in Vehicle Side Mirrors, Arrests Multiple Suspects NationwideCustoms, ICPC Partner to Curb Smuggling, Boost Revenue Through Transparent EnforcementPolice Spokesperson Muyiwa Adejobi Promoted to DCPPurported Resignation: Who are after NNPC Boss Bashir OjulariWill Presidential Gifts Follow as Nigerian Female Basketballers D’Tigress Reach 5th Consecutive AfroBasket Final?After ₦250m Ransom Demand, Security Guard Arrested for Murder of Caregiver, Toddler in Abuja School
X whatsapp