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Nigeria’s economy on the path to recovery – Osinbajo’s aide

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The Senior Special Assistant on Media and Publicity to the Vice President, Laolu Akande, said on Sunday Nigeria’s economy is on the path to recovery.

Akande, who featured in a television programme in Abuja, said the Nigerian economy was still the biggest in Africa and would bounce back in a very short while.

Nigeria plunged into its second recession last week.

Read also: ‘Fresh $1.2b loan will plunge Nigeria’s economy into devastating pitfall,’ PDP cautions Nigerian govt

The presidential aide said: “The Nigerian economy is on a rebound and we will get out of this situation before the end of this year.

“If you look at the GDP figures, there is a clear indication of restoration. For instance, in Q2, the contraction was -6.1 but in Q3 which figures were just released, the contraction is -3.

“So the figures bear the truth that the Nigerian economy is on its way to recovery. This is going to be mainly because of the Economic Sustainability Plan that the President had put in place and asked the Vice President to share its development and implementation.

“The economy is rebounding and this is mainly because of the preemptive action that the Buhari administration had taken even before now to ensure that the situation doesn’t get worse. We have the confidence that the Nigerian economy will bounce back very promptly.”

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