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Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working - Politics - Nairaland

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Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by murecool(m): 6:03pm On Feb 12
OFFICE OF THE VICE PRESIDENT
PRESS RELEASE

STRONG MOMENTUM & CONTINUOUS GROWTH IN ECONOMY FURTHER SHOW BUHARI ADMINISTRATION'S POLICIES WORKING


*2018 overall reflects sustained improvement in non-oil sector

In what is a clear indication of the effectiveness of the economic policies of the Buhari presidency, Nigeria's Gross Domestic Product (GDP) figures recorded a marked improvement in the fourth quarter of 2018.

According to the National Bureau of Statistics, NBS, the GDP figure for the last quarter in 2018 is 2.38 per cent, reflecting continuous growth.

Below is a statement released in response to the new GDP figure by the Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu:

"The latest figures released by the National Bureau of Statistics, 2.38 per cent for the fourth Quarter (Q4), 2018 show an appreciable improvement in the growth performance of the economy. The figures are encouraging in several respects.

Notably, the growth recorded in the fourth quarter of 2018 (Q4 2018) was higher than both the growth of 1.81% in Q3 2018 and in the corresponding fourth quarter of 2017. Indeed, quarter-on-quarter growth from Q3 2018 to Q4 2018 was 5.31%, which signals a great potential for a higher annual growth rate.

In annual terms, the growth rate more than doubled in 2018, rising to 1.93% as compared to 0.82% in 2017, again reflecting the strong momentum of growth.

Also notable is the fact that growth in Q4 2018, and indeed for the whole year, owed a great deal to the performance of the non-oil sector. The non-oil sector grew at 2.7% in Q4 2018 as compared to 1.14% in the oil sector. The non-oil sector also grew by 2% in the whole year 2018 which was considerably better than its growth in the whole of 2017, which was 0.47%. The share of the non-oil sector in GDP was 92.94% while the oil sector contributed 7.06%.

With the maintenance of this trend, the economic diversification objectives of the Economic Recovery and Growth Plan are well on their way to being met.

It was encouraging that agriculture which accounts for 26.15% of total GDP grew by 2.46% in Q4 2018, while manufacturing grew by 2.09%. The service sector which accounts for 53.62% of GDP registered its strongest growth performance in 11 quarters.

Transport and storage, as well and information and communication, were particularly notable growing at 13.91% and 9.65% in the whole of 2018. This owes a lot to the investments that are being made in roads and rail as well as in broadband infrastructure.

The NBS figures also show that 39 out of 46 economic activities recorded growth in Q4 2018 which shows that growth across sectors is becoming more mutually reinforcing.

This growth is consistent with the policies and principles of the Economic Recovery and Growth Plan (ERGP) relating to macroeconomic stability and economic diversification. When better economic fundamentals like lower inflation rates, increased foreign reserves, a more stable exchange rate and increased capital inflows are taken together with increased investments in the real sector, infrastructure, the social sector and business environment; it portends well for economic performance in 2019 and beyond.

Indeed, the economy remains well on course to grow by 3% in 2019 as estimated in the Medium-Term Expenditure Framework."

The Buhari administration will continue to pursue the ERGP diligently and Nigerians can expect that economic conditions will continue to get better even as we move on to the Next Level.


Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
12 February, 2019

Copyright ©️ 2019, Office of the Vice President, Prof. Yemi Osinbajo, SAN, All rights reserved.

17 Likes 3 Shares

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Kingspin(m): 6:13pm On Feb 12
APC always think they can use propaganda and promo to control minds of Nigerian. Rubbish.

This is Atiku Momentum.
We just have to finished it by 16th.

Give Atiku a trier and if he mess-up we change him like boxer.

28 Likes 2 Shares

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by deboysben(m): 6:13pm On Feb 12
That tactics is no longer sellable again

We have decided

We believe in atiku Obi Presidency

33 Likes 4 Shares

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Olukologia24592(m): 6:13pm On Feb 12
Iffa hear
Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by cleary: 6:13pm On Feb 12
Please my people, help a starving brother. I have been pleading for help since 2 days now. I'm a student who returned to school last week because of the prospects of exams starting on Monday and also because I was opportuned to enter a free ride. my family isn't bouyant enough and my dad has severe high BP that's why I had to find my way so as not to make him to start thinking about where to get money to give me. I haven't eaten a decent food since I got back and am starving.


I am soliciting for help from well meaning people who will be touched enough to hear my plight and have mercy. I am not asking for much, no matter how little, it will go a long way. God bless you all

1 Like

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by olujastro: 6:13pm On Feb 12
Unfortunately, the average Nigerian doesn't understand those figures up there. He just wants free-flowing money after oil is sold so that he can say the economy is good.
That's why some educated illiterates prefer corruption era to infrastructure and an all-inclusive economic growth. angry

For sane minds, those figures mean that our economy is slowly but gradually moving away from oil unto a more solid foundation - agriculture, manufacturing, construction, services, etc.
Making it less likely for Nigeria to become another Venezuela.

But if PDP returns, they will definitely reverse the gains that have been made so far and create a big mess for others to clear.
Same way Fayose took Ekiti 4yrs backwards and Fayemi is trying to clear the mess now.

17 Likes 3 Shares

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by rentAcock(m): 6:14pm On Feb 12
APC members are pathological liars.

1 Like

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Jamesmatic(m): 6:14pm On Feb 12
At this point, Nigerians are not interested on any futile report, all we are saying is, all hands must be on deck to offload the dullard to daura......

3 Likes

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by cutesmilez(f): 6:14pm On Feb 12
No be only momentum na Bubumtum...

Congratulations Atiku, Waziri Adamawa... Our incoming President.

Second Term is only for Archivers.

11 Likes

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by KanwuliaExtra: 6:14pm On Feb 12
CABAL is working. . . . cheesy

1 Like

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by LiveByNight: 6:15pm On Feb 12
murecool:
OFFICE OF THE VICE PRESIDENT
PRESS RELEASE

STRONG MOMENTUM & CONTINUOUS GROWTH IN ECONOMY FURTHER SHOW BUHARI ADMINISTRATION'S POLICIES WORKING


*2018 overall reflects sustained improvement in non-oil sector

In what is a clear indication of the effectiveness of the economic policies of the Buhari presidency, Nigeria's Gross Domestic Product (GDP) figures recorded a marked improvement in the fourth quarter of 2018.

According to the National Bureau of Statistics, NBS, the GDP figure for the last quarter in 2018 is 2.38 per cent, reflecting continuous growth.

Below is a statement released in response to the new GDP figure by the Special Adviser to the President on Economic Matters, Dr. Adeyemi Dipeolu:

"The latest figures released by the National Bureau of Statistics, 2.38 per cent for the fourth Quarter (Q4), 2018 show an appreciable improvement in the growth performance of the economy. The figures are encouraging in several respects.

Notably, the growth recorded in the fourth quarter of 2018 (Q4 2018) was higher than both the growth of 1.81% in Q3 2018 and in the corresponding fourth quarter of 2017. Indeed, quarter-on-quarter growth from Q3 2018 to Q4 2018 was 5.31%, which signals a great potential for a higher annual growth rate.

In annual terms, the growth rate more than doubled in 2018, rising to 1.93% as compared to 0.82% in 2017, again reflecting the strong momentum of growth.

Also notable is the fact that growth in Q4 2018, and indeed for the whole year, owed a great deal to the performance of the non-oil sector. The non-oil sector grew at 2.7% in Q4 2018 as compared to 1.14% in the oil sector. The non-oil sector also grew by 2% in the whole year 2018 which was considerably better than its growth in the whole of 2017, which was 0.47%. The share of the non-oil sector in GDP was 92.94% while the oil sector contributed 7.06%.

With the maintenance of this trend, the economic diversification objectives of the Economic Recovery and Growth Plan are well on their way to being met.

It was encouraging that agriculture which accounts for 26.15% of total GDP grew by 2.46% in Q4 2018, while manufacturing grew by 2.09%. The service sector which accounts for 53.62% of GDP registered its strongest growth performance in 11 quarters.

Transport and storage, as well and information and communication, were particularly notable growing at 13.91% and 9.65% in the whole of 2018. This owes a lot to the investments that are being made in roads and rail as well as in broadband infrastructure.

The NBS figures also show that 39 out of 46 economic activities recorded growth in Q4 2018 which shows that growth across sectors is becoming more mutually reinforcing.

This growth is consistent with the policies and principles of the Economic Recovery and Growth Plan (ERGP) relating to macroeconomic stability and economic diversification. When better economic fundamentals like lower inflation rates, increased foreign reserves, a more stable exchange rate and increased capital inflows are taken together with increased investments in the real sector, infrastructure, the social sector and business environment; it portends well for economic performance in 2019 and beyond.

Indeed, the economy remains well on course to grow by 3% in 2019 as estimated in the Medium-Term Expenditure Framework."

The Buhari administration will continue to pursue the ERGP diligently and Nigerians can expect that economic conditions will continue to get better even as we move on to the Next Level.


Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
12 February, 2019

Copyright ©️ 2019, Office of the Vice President, Prof. Yemi Osinbajo, SAN, All rights reserved.




Propaganda and lies

Growth only on paper

Yet the naira looses value daily, food prices are rising daily.
He claims there is rice farming boom in the North yet rice prices rise daily and Nigeria is the second largest importer of rice in the world!!

Every month more Jobs are being lost !

People are starving!

Please spare us this nonsense!

What these illiterates don't know is that if the economy is working you don't need to print it in the newspapers before the citizens know

31 Likes 5 Shares

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Asshurbanipal: 6:15pm On Feb 12
Until we can buy things at 2014 prices I consider all data of purported growth as fake

1 Like

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Nobody: 6:15pm On Feb 12
we don't need manipulated figure now that election is few days away.
bringing out people friendly policies now that we have decided to chase you away will not change our mind

1 Like

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by MondayOsunbor(m): 6:15pm On Feb 12
Laolu Akande
Senior Special Assistant to the President on Media & Publicity
Office of the Vice President
12 February, 2019

Copyright ©️ 2019, Office of the Vice President, Prof. Yemi Osinbajo, SAN, All rights reserved.

Even lies are All rights reserved these days in Nigeria!

1 Like

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by godwinstringed1(m): 6:15pm On Feb 12
sad
Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by rusher14: 6:15pm On Feb 12
Kingspin:
Rubbish
You are pained.

You have more years of pain.

grin

2 Likes 1 Share

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by dublinkmy6: 6:15pm On Feb 12
... and all these started suddenly, so suddenly.... FILE!
Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Caseless: 6:16pm On Feb 12
sai baba

4 Likes 1 Share

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Nogen: 6:16pm On Feb 12
This rubbish will end on Saturday.

1 Like

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by AngelicBeing: 6:16pm On Feb 12
KanwuliaExtra:
CABAL is working. . . . cheesy
Exactly, economic growth and yet the country is the world's headquarters of poverty and darkness, nonsense grin

3 Likes

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by jayson87: 6:16pm On Feb 12
Osinbajo.... PACK YOUR LOAD, na this saturday. Your own people rejected you! A vagabond son of ogun state

5 Likes

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Seetto: 6:16pm On Feb 12
The kind of news they love to hear.
Nigeria GDP is down by 10%
Inflation increased by 20%, this they believe

But positive news , they frown and claim is not true


God bless NIGERIA...

8 Likes 1 Share

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Otunski: 6:17pm On Feb 12
Even when election is few days away they still lying to gullible Nigerians.
Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by helinues: 6:17pm On Feb 12
Chai, this kind news dey sweet belle when elections con dey near

Big vote buying opportunity..

Saturday is only formality

Sai baba 2023

INEC inviting Buhari for certificate of return

8 Likes 1 Share

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Ayoefa: 6:17pm On Feb 12
WITHOUT A DOUBT


4+4=NEXT LEVEL

7 Likes 1 Share

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Officialpdpnig: 6:18pm On Feb 12
This is very true and was analyzed by a foreign economic expert as well

3 Likes 2 Shares

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by AngelicBeing: 6:18pm On Feb 12
LiveByNight:
[s][/s]



Propaganda and lies

Growth only on paper

Yet the naira looses value daily, good prices are rising
He claimed there is rice farming boom yet rice prices rise daily and Nigeria is the second largest importer or rise

Jobs are being lost

People are starving

Please spare us this nonsense
Gbam, and the country is still the world headquarters of poverty and darkness grin

1 Like

Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Naughtysite: 6:18pm On Feb 12
cool UI
Re: Strong Momentum & Continuous Growth In Economy Further Show Buhari Is Working by Iblad0994(m): 6:19pm On Feb 12
God bless Buhari

God bless Nigeria

7 Likes 1 Share

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