The Minister of Information and Culture, Lai Mohammed, has explained how the administration of President Muhammadu Buhari got Nigeria out of recession.

RationalTV..com learnt that Mohammed, while speaking with the press, said the country was able to exit the recession that lasted for more than a year because of the efforts put in by the Buhari government.

He stated that the 0.55% growth in the Gross Domestic Product (GDP) in the second quarter of 2017, was one of the major things that got the nation out of recession, Daily Post reports.

He said:“Taking Nigeria out of recession did not happen by accident. It is the culmination of months of hard work by the Administration and fidelity to its well-articulated economic policies, especially the Strategic Implementation Economic Recovery (2016) and the Growth Plan (ERGP) that was launched on 5th April, 2017.

“This positive growth is attributable to both the oil and non-oil sectors of the economy. Growth in the oil sector, which has been negative since Q4 2015, was positive in Q2 2017. It rose by 1.64% as compared to -15.60 in Q1 2017, an increase of up to 17 percentage points.

“The non-oil sector grew by 0.45% in Q2 2017, a second successive quarterly growth after growing 0.72% in Q1 2017. In particular, improvement in the non-oil sector was driven principally by strong growth in agriculture and solid minerals sector, and reversal in the previous contraction of the manufacturing and construction sector. This shows that the government’s economic diversification programme is working."

Other positive developments listed by the minister are:

1. A fall in the inflation rate from 18% to 16% as of July 2017

2. The rise in exports, coupled with a decrease in imports, which brought the country’s trade balance to N719.4 billion, up from N671.3 billion

3. Increase in capital inflow that brought the total value of capital imported into Nigeria in the second quarter of 2017 to $1,792.3 million, representing a growth of 95.02 percent

4. Increase in foreign reserves to a 30-month high of $31.8 billion in July 2017

5. Appreciation in exchange rate from N520/$ as at 20 February 2017 to N362/$ as at 17th August 2017


Meanwhile, RationalTV..com reported earlier that Governor Ayodele Fayose of Ekiti has reacted to news that Nigeriawas out of recession, describing it as inaccurate.

In a statement signed by his spokesperson, Lere Olayinka, on Wednesday, September 6, the Ekiti governor claimed the statistics upon which the claim was based is meaningless to Nigerians.

He said that the reality is that Nigerians are suffering and dying, with foods out of their reach and no amount of economic statistics will make meaning to people who cannot afford to eat once daily.

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Source: http://RationalTV..in/2017/09/rationaltv-lai-mohammed-reveals-how.html

lai muhammed

A recession which they dug us into.

Please, i no go school ooo. But has the price of rice come down in your areas? Has dollar dropped to N200's? Has fuel come under N100/litre? Has their been drop in the price of basic commodities? Someone should explain to me

It's Lai again!

Another own goal!

Nonsense

1. A fall in the inflation rate from 18% to 16% as of July 2017 (NONSENSE)

2. The rise in exports, coupled with a decrease in imports, which brought the country’s trade balance to N719.4 billion, up from N671.3 billion (WHAT ITEMS MAKE UP THIS EXPORT - UGWU OR OGBONNO)

3. Increase in capital inflow that brought the total value of capital imported into Nigeria in the second quarter of 2017 to $1,792.3 million, representing a growth of 95.02 percent (STATE CLEARLY ---WHOSE INFLOW AND WHERE?)

4. Increase in foreign reserves to a 30-month high of $31.8 billion in July 2017 (WHO THE RESERVES EPP?)

5. Appreciation in exchange rate from N520/$ as at 20 February 2017 to N362/$ as at 17th August 2017 (THIS IS THE REAL RECESSION)

Useless government

- The only drop is the price of Pepsi now N100 (N150)...and the company is advertising seriously and celebrating the drop...Nonsense

What about how he got us into recession?

Hmmmmm

Bastttad

If not for Buhari, Jagaban Tinubu, Amaechi and APC, that clueless criminal called Badluck Jonathan and his crew would have sold Nigeria.

God bless PMB
God bless Amaechi and Jagaban
God bless Nigeria

I don't need to read that mumbo jumbo I just know everything is lies.. See his mouth

i said it

its more of a propaganda than a reality

the useless Liar has already jumped out of silence to make a barbecue out of Nigerians hardship




when NBS tell us jobs have been lost, we know its true, cause newspapers carry enough job loss news for us to know

but prices of things remain very high - so telling us recession is over is a tale by moonlight

recession has only ended on paper and in Aso rock and not in reality

unrepentant liar. believe him at your own peril.

This APC government is useless and hopeless. Believe them at your own peril. They are saying this to know if Nigerians will vote them again. Only zombies will vote APC in 2019. Worst government ever with empty promises and no achievement.

My pockets are still in recession.

I can't relate.

Lol funny Party ....

Really?

Anyways, Buhari is home free, coasting along till 2019, whether he runs or not he's personally MADE! Pension and medical care plus loads of rewards guaranteed.

Madam Alhasan has signaled the beginning of campaign season and Nigerians will ignore Buhari's supposed short comings.

If you thought Buhari came to do anything but get Jonathan out, become president and arrange himself and Co., sorry (unless you're in the and Co.)


Next stop El-Rufai or Atiku, at least that's what the paid online overlords will sell to you and you will swallow hook, line, sinker and fishing rod.

Una weh don

D Godfather of lies..i hail thee

Who put Nigeria for recession before?

Early 2016, National Bureau of Statistics (NBS) and Finance Minister say Nigeria is officially in economic recession....

Then Wailers responded with a thunderous applause, not minding the fact that their heroes and heroines looted and plundered the country into recession....

* September 2017, National Bureau of Statistics (NBS) and Finance Minister say Nigeria is officially out of economic recession....

Then Wailers are now responding with a thunderous wailing of disapproval and rejection.... They love bad news, and they hate good news, especially if it has to do with PMB and Nigeria! They believed the NBS and the Finance Minister then, but they don't believe the NBS and the Finance Minister now!

Poor Wailers, they don't know and understand that our getting out of economic recession is a function of the swelling up of our foreign reserves in spite of the fact that oil still sells at less than $50 per barrel, and which means the blockage of leakages and the anti corruption war have been remarkably successful after all. And it also means PMB's Economic Team, headed by Vice President Yemi Osinbajo, is a sound team!

The swelling up of our foreign reserves means the Naira will now maintain its momentum of recovery against other foreign currencies, which will further translate into gradual but steady fall in prices of goods and services. So, if you are out there wailing that this announcement has not changed the prices of rice, yams, garri or other commodities in the market near you, just hold your breath and monitor the markets in the coming days, weeks and months!

Just watch PMB recover Nigeria from thieves and the consequences of their stealing!

Long live PMB! God bless Nigeria!

This is definitely a mistake. The topic should be How Buhari got Nigeria INTO recession.

They should stop with all these lies. There is some progress but Nigeria isnt out of recession. And the little progress is because Buhari and his cabal have been out of the country for most part of the year.

hmm

Lies lies everywhere

Dis govt cn lie ehhh.

Same buhari that is hadly ever around!

Lai lai lol

Will u keep quiet, Mr Liar

[img]https://wtdevflnt.files./2011/07/man_beats_up_wife_in_public_because_she_wouldnt_obey_him-thumbnail.jpg?w=300&h=180[/img]

Is that why I have not eaten since morning?

The last time I bought a bag of rice in 2015 was #7k, this week I bought kitchen king rice for #18,500.
My governor in bayelsa state is still owing me 5 months salary. As far as I know am still in recession. maybe its Daura people that are out of recession.

rehipok23:
lai muhammed

Lai Mohammed, it seems his parents knew his talent from the moment he was conceived, hence the name Lai(lier) Mohammed was given to him.

ok

Pls allow the masses to judge. The citizens re the only ones who can attest to ur claims. Oga Lai park on one side.