Despite out-of-recession claim, Obasanjo says Nigerians are still suffering

Former President Olusegun Obasanjo on Sunday said that Nigeria’s economy is not booming yet and that everybody is feeling the heat of the state of the nation.

Obasanjo who said that it was normal for people to experience hardship owing to the current economic challenges facing the country, however called on Nigerians to be patient, adding that the situation will not last.

The former leader stated this in Yoruba when he spoke at the 52nd Annual Service of Songs of the 1st ECWA Church, Ilorin, the Kwara State capital.

“This current hard time will not last. The economy is not booming. Everyone is feeling the heat but people should be patient. The small and large scale business owners are all feeling it. It is normal for people to experience hardship as a result of the current economic challenges. People should be patient; it will not last,” Obasanjo said.

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Obasanjo’s statement is coming two months after the National Bureau of Statistics (NBS) on September 5 declared that the Nigerian economy was out of recession.

NBS had claimed that in the second quarter of 2017 Nigeria’s Gross Domestic Product (GPD) grew by 0.55 per cent (year-on-year) in real terms which showed the departure of the economy from recession after five consecutive quarters of contractions since the first quarter of 2016.

 

 

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