The Statistician-General of the Federation and Chief Executive, National Bureau of Statistics, Dr. Yemi Kale, on Wednesday explained why Nigerians were not feeling the real impact of the positive economic growth rate on their lives.

Kale attributed the non-impact of the exit from recession on the citizens to the structure of the economy, which is still largely driven by oil.

He said while the economy might have recorded a growth rate of 0.55 per cent in overall Gross Domestic Product for the second quarter, not all the sectors did well in terms of productivity.

For instance, the NBS boss explained that out of the 42 economic activities that were used to measure the GDP growth rate, 21 recorded decline in productivity, while the rest performed better than they did in the first quarter.

He said the 21 of those economic activities that recorded slowdown in performance were those that ordinary Nigerians relate with on daily basis.

For instance, the NBS boss said while the manufacturing sector grew by 0.64 per cent in the second quarter, there were some segments of the sector that did not do well.

He gave some of them as manufacturing, which contracted by -10.88 per cent; motor vehicle and assembly, which contracted by -19.72 per cent; electrical and electronics, which contracted by -1.7 per cent; and chemical and pharmaceutical products, which declined by -0.98 per cent.

In addition, wood and wood products contracted by -2.09 per cent; pulp, paper and paper products, -1.85 per cent; and cement, -4.16 per cent.

Kale explained, “Recession is not about the price of your goods, not whether unemployment is going up or down, not whether you have quality education, it’s purely your Gross Domestic Product; your outputs of goods and services in the economy are going down.

“And the GDP is an accumulation of 46 different economic activities in Nigeria and the overall number, whether positive or negative, will determine whether you are in recession or out of recession.

“Now, within those 46 activities, some sectors will do very well and will be positive; some will do badly, some will do worse, and some will stay the same way they are.

“Depending on who you are in the society, what we publish is the aggregated total of everybody. So, even in that same report, you will see that 21 sectors were negative and there are other sectors that did well.”

He advised that with the economy being out of recession, there was a need for the government to work assiduously to ensure recovery by taking the growth rate to where it was before the decline in performance.

After this is done, he said the next stage would be to sustain the growth and take it beyond the rate of recovery.

The NBS boss explained that in as much as the GDP growth rate was still lower than the population growth rate, the real impact of such economic growth would not be felt significantly.

He said that its GDP report, which showed that Nigeria exited recession in the second quarter, was not doctored or politically motivated.

Kale explained that the NBS was an agency of government that was independent to carry out surveys and publish its findings based on international best practices.

The NBS boss faulted those making claims that the outcome of the report might have been influenced by political considerations, adding that none of the reports of the agency was influenced politically.

Kale said even at the risk of not being reappointed at the tail end of his tenure, economic reports that were not in favour of government activities were published by the agency, adding that if he did not doctor reports then, there was no basis to do so now.

He said, “In this administration, I am the one that published that we were in recession, and I am also the one that is saying we are now out of recession.

“I don’t think there is any inconsistency in what the NBS does in terms of politics. The recession announcement came two months to the renewal of my tenure. Now, if it was political, will I come and tell the government that wants to renew my tenure that inflation is in double digit?

http://investorsking.com/nigerians-havent-felt-impact-exit-recession-nbs-boss/

The end of Recession to me is when the price of a bowl of rice comes down to #300..

When you published that we were in recession your were in your right senses but now you choose to be intimidated by the propaganda of AFeeCee. Please stop deceiving yourself thinking you are deceiving us, we are wiser now, once beaten twice shy. Tell Bubu to return us back to where he took us from then we will be out of recession

that's true, there is no impact in the lives of the masses

no any sign

So leaving recession was just in paper, we haven't seen it in real life or what
Let the price of ijebu garri & bag of rice come down so we can really say recession is over!!

They are deceiving themselves and their zombies


According to Mr Atiku
3 square meal a day

3 square meal a day


Stomach is very important

Let the prices of indomie, garri and rice just respect their selves and come down

The economy is out of recession, however, economic growth is not broad-based. Now is the time to support growth with effective monetary policy, knock-off high-interest rate to support local businesses and increase new job creation.

Oga, you are still speaking big grammar. How could you say that Nigeria is now out of recession when the common man on the street can't attest to it?
The common man on the street doesn't understand all these your big big grammar. What he understands and wants to hear is that he could now afford a plate of rice.

.

What is he saying, abeg let them pay me today for my mmm.

Please were can I open electronic shop in the north?

I want to invest

Nigeria av always been in recession even before you called it recession.

I don't like economics
Their terminologies confuse and bore me..
I don't get doe from that write-up upstairs

When NBS declared that we have entered recession with facts to back it up, everyone accepted that fact, even the government in power accepted that fact. The government didn't call it a campaign of calumny nor evil agenda of political detractors. It accepted that fact, accepted responsibility and promised to improve the economy.

Now, the same NBS that declared recession has said we are out of it with data to backup their facts but some people have decided to play politics with it (including Atiku) and are now saying it is a lieand that it was politically motivated, bla bla bla. Everyone is now talking as if mannar and qual were falling down from heaven for us prior to the recession saga. Atiku is saying food must be on the table of everyone for us to know we are out of recession as if during the non-recession era, everyone had it soo good; we are now acting as if everything was okk before the recession, like we had constant electricity, good roads, portable water, good and consistent healthcare, quality and consistent education, until recession came and scattered everything.

Kale explained, “Recession is not about the price of your goods, not whether unemployment is going up or down, not whether you have quality education, it’s purely your Gross Domestic Product; your outputs of goods and services in the economy are going down.

Funny enough, nobody demanded for all these explanations when he declared we were in recession. We accepted that fact, now he has to explain and explain and explain...kai!

The NBS seem a very neutral body in Nigeri. Their data has always been devoid of political interference and bias.

I wish other institutions in Nigeria can work independently like the NBS.

To me, we are still swimming in recession.

"He advised that with the economy being out of recession, there was a need for the government to work assiduously to ensure recovery by taking the growth rate to where it was before the decline in performance"

Personally, I wished the man never won, does he even understand those terms as GDP growth rate and population growth rate? But again, if Zika virus can be used to cure "Aggressive Brain cancer" recently, then it's only better for Nigeria to accept her own "Zika virus" and cure her acute brain damage.
Na God dey sustain common man for dis country no be NBS statistics

This is whee I always have problems with our government, the prices of goods shoot up they claim it was caused by recession now we heard that no more recession but the prices are still up. Who is deceiving who? They will now come and be speaking some grammar to confuse us. If you can not explain it to a five years old then you too don't understand it. Please our government should try to always tell us the truth about what is going on. Enough of all these Lai Mohammed things

Our present leaders n deceit/propaganda/lies be like Bobrisky n bleaching.


BTW This today cold sef na wa o.

"He said the 21 of those economic activities that recorded slowdown in performance were those that ordinary Nigerians relate with on daily basis."

The man said recession doesn't concern unemployment. Is he daft?

Until paint of garri comes down to #200 and bag of rice come down to #8000, then I will know we are out of recession
Shior!!

Recession is only a word; Anty Kemi English finance minister..

So how come we are yet to feel the impact of the word

This guys are confused, they worry about the stock market and show less concern about the citizens forgetting we makee stock market.

recession won't resign just like buhari

Concerted efforts are only channel to loot from the national patrimony. Nigeria aren't out of recession until the common standard of living take a quantum leap.

The major reason why Nigerians have not felt the impact of exit from recession is PDP 16 years misrule......expect to hear this soon.

Check out my signature for quality and durable furniture.