Doyin2:


Do you understand what is recession?

Hunger is independent of recession.Before recession there was hunger,after recession there will still be hunger.

smartty68:

Don't mind the government, let them keep manipulating the figures and keep on deceiving the masses

Sijo01:
Prices of goods and services remains the same.

GavelSlam:
You see the kind of people we've been trading words with on this forum?

Many of them think exiting a recession means a drop in price of garri.

Ramanto:
I don't believe this. Let them tell us the indices they used in judging that. Nothing has improved so far

arsenal33:


When govt said we are in recession, you agreed.

Now they say we are out of recession, you are wailing.
Nigerians sha!

smartty68:
If you believe that Nigeria is outta recession, click share, still in recession click like. I don't believe ni..... Hungry everywhere

clarocuzioo:

Then why are you disturbing the handicapped when you know you are not qualified to train them, is than not a proper definition of lunacy??

Doyin2:


Getting out of recession simply means getting out of negative economic growth.

It does not imply fall in prices of goods and services.

diegwu01:
The same indices used to announce the recession you believed and accepted in the same telling you the recession is over. Accept it and continue living

clarocuzioo:

Then why are you disturbing the handicapped when you know you are not qualified to train them, is than not a proper definition of lunacy??

maximunimpact:
The Nigerian economy has rallied back into growth after suffering contraction for five consecutive quarters. Official results from the National Bureau of Statistics (NBS) ) has shown that the economy grew at 0.55 per cent in the second quarter (Q2) of 2017, effectively removing Nigeria out of recession.

FINANCIAL WATCH reported earlier Latest survey by Bloomberg which suggest that top Africa’s economy – Nigeria and South Africa who has been battling with dwindling economy may be on her way out of recession. According to the survey, Nigeria’s GDP likely grew 1.6 per cent from a year earlier after contracting for five straight quarters.

The Q2 2017 growth rate of 0.55 per cent (year-on-year) was 2.04 per cent higher than the rate recorded in the corresponding quarter of 2016 (-1.49%) and higher by 1.46 per cent points from rate recorded in the preceding quarter, which was revised to –0.91% from –0.52% due to revisions to crude output for March 2017.

According to the preliminary results for the second quarter of the year, Nigeria’s economic recovery was driven principally by the performance of four main economic activities comprising oil, agriculture, manufacturing and trade.

The results revealed that Oil GDP recovered significantly from -11.63 per cent in Q2 2016 and -15.40 per cent in Q1 2017 to 1.64 per cent in Q2 2017.

But while Oil GDP expanded considerably in the second quarter of 2017, Non-oil GDP only grew at 0.45 per cent, down from 0.72 per cent in the preceding quarter and -0.38 in the corresponding period in 2016.

It also showed that agriculture continued its strong and positive growth, which it had maintained throughout the recession, growing by 3.01 per cent in Q2 2017, from 3.39 per cent in Q1 2017 and 4.53 per cent in Q2 2016.

Manufacturing retained its positive growth for the second consecutive quarter in Q2 2017, growing at 0.64 per cent compared to 1.36 per cent in Q1 2017 and -3.36 per cent in Q2 2016, while trade which has a dominant share of GDP remained negative at -1.62 per cent, but the contraction in the sector decelerated from the -3.08 per cent recorded in Q1 2017.

Furthermore, electricity and gas and financial institutions sectors also recorded strong growths, with electricity and gas growing by 35.5 per cent, compared to -5.04 per cent in Q1 2017 and -10.46 per cent in Q2 2016 and financial institutions growing by 11.78 per cent in Q2 2017, compared to 0.60 per cent in Q1 2017 and -13.24 per cent in Q2 2016.

The results also showed that the industry sector grew positively by 1.45 per cent in Q2 2017, after nine consecutive quarters of negative growth since Q4 2014.

As a percentage of GDP, services retained the giant share of GDP at 53.73 per cent in Q2 2017, down by 1.94 per cent points (55.67 per cent) from the first quarter of 2017 and 54.80 per cent in Q2 2016; industries accounted for 23.31 per cent of GDP, compared to 22.90 recorded in Q1 2017 and 22.65 per cent in Q1 2016; while agriculture accounted for 22.97 per cent of GDP in the quarter under review, compared to 21.43 per cent in Q1 2017 and 22.55 per cent in Q2 2016.

https://www.financialwatchngr.com/2017/09/05/breaking-nigeria-officially-exits-recession-gdp-grew-0-55-q2/

Mynd44, Lalasticlala, Seun

kitaatita:

It is about data and statistics; not sentimental votes.

kitaatita:

It is about data and statistics; not sentimental votes.

freshest4live:

That is simply because the rebasing was done in 2014.

lonecatt:

Go to school?as if there are any good schools in nigeria,if you dont know what to say just shut da bleep up.there is nothing to show that the economy has picked up.

clarocuzioo:
Does this translate to all or a greater percentage of people who lost their jobs gaining it back?? Does this translate to prices of comodites in the market dropping drastically?? Does this translate to improved standard of living for the Nigerian populace?? Does this translate to businesses bouncing back?? If no, then those things are mere figures that are not in tandem with reality

lincolnj88:

So the handover GDP.. .of $563 billion dollars is incorrect.. ... There is even an announcement by one of the Buhari campaign media aid that they will surpass $700 billion in Q4 2015

smartty68:

Don't mind the government, let them keep manipulating the figures and keep on deceiving the masses

freshest4live:

It is correct but not suddenly because jonathan came on board, but becaused we rebased our economy to include telecommunication, banking and nollywood. So we already had a better gdp than the 170 Billion dollars on paper which you said jonathan inherited but this only showed when we rebased in 2014 to include all sectors by modern standards.

drnoel:


Are we supposed to be talking about Q2 when we are already in Q4?

afosahid:


But you believed the same figures from the government when they told you we were in a recession.

lincolnj88:
so you meant that, the 2009 GDP excluded the deposits money bank, and the telecommunications sector.. ..

smartty68:

We've been made to believe that APC is a social media government. We need to see the physical effects and not all these manipulated figures

oneeast:
Now answer me, what are the physical indices that shows we are out of recession? Prices of essential commodities rose to the ceiling level, that was the beginning of recession in Nigeria. Now they are telling us that recession is over..the question is, has those prices come down? Has fuel/gas price come down to N87? Has people that lost their jobs been reinstated?

Has the FX returned to where this useless government met it in 2015. Until all these are reversed, you can't come out to say you are out of recession. If you dare me, then go to Oshodi or Ochanja and say this and see if you will not have a broke head and legs.

kitaatita:

The Nigerian Bureau of Statistics (NBS) is the authority. It has nothing to do with political party. NBS didn't hide when Nigeria went into recession and won't manipulate figures now.