₦airaland Forum

President Muhammadu Buhari on Wednesday explained how Nigeria under his leadership was pulled out from the grip of economic recession.

The president spoke during a presidential dialogue session held at the state banquet hall in Abuja.

“Through various monetary and fiscal measures, we restored economic growth, curbed inflation and shored up our external reserves,” Mr Buhari said in his welcome address. “We have witnessed eight quarters of consistent marginal growth of the economy over the past two and a half years.”

The Nigerian economy slipped into recession in early 2016.

This is largely because the country’s economy heavily relies on oil revenue. A slide in oil prices and low output due to renewed insurgency in the Niger Delta region had hit the country and plunged her into recession which threw businesses and families into hardship.

The National Bureau of Statistics (NBS) announced that the country was out of recession in September 2017 but many Nigerians still complained of economic hardship.

The statistics bureau would later in 2018 restate its position that the country was out of recession but said the exit would be felt gradually.

In his address, Mr Buhari said progress in the agricultural sector especially in food production and processing “through our food security and Anchors Borrowers Programmes was also key in pulling the economy out of recession.

He said the programmes provided concessionary credit facilities to farmers in crop production as well as large-scale investors in food processing and manufacturing.

“To consolidate on these and other successes, we will continue to provide incentives that will facilitate investments and create jobs in key import substitution programmes.”

Mr Buhari said the policy dialogue session was conceived to advise the government over the next four years.

“It is also to deliver our promises in a manner that reflects true changes to the livelihood of the people; and discuss and propose for Federal Government’s approval, key strategies and high impact initiatives to stimulate economic growth and development.”

https://www.premiumtimesng.com/news/more-news/342730-how-nigeria-pulled-out-of-recession-under-my-watch-buhari.html#

Bwahahahaha

That's all I have to say.

Under your watch we entered recession. We have adjusted to it. What is your definition of coming out of recession? Nigerians have adapted. Na condition make crayfish bend it's back. Kwontinue. Your ministerial list is also very encouraging and a mirror of your integrity and personality. Bravo

Reccesion that you caused..?

The recession you caused and the recession we are still not technically clear of?

FarahAideed:
The recession you caused and the recession we are still not technically clear of?

Speak for yourself, serial wailer

i dn tire to da comment for any thing concerning this idiot of a president. the mumu get mouth da talk nonsense, no be him put us for the recession? thunder fire am there. i wish i go close my hand on this mans neck walai i no go let go until i break am.

Wetin local man nor go read for Nairaland.....

Afamed:
Speak for yourself, serial wailer

Supporter of iniquity

Meaning this dumbass useless quota system man finally agreed that his cluelessness & incompetency have truly landed Nigeria in recession.Meanwhile "Recession is just a word".-Kemi Adeosun

There's no tangible evidence of Nigeria stepping out of recession.
Banks are shutting down branches and indiscriminately laying off workers.Cost of goods and services have skyrocketed, all the financial indices are not looking up either.

There is no enabling business environment, Power supply is epileptic, security is absent and the roads are a death trap.
How can business thrive in a land with non-feasible fiscal policies. Yet the interest rates on call deposits and Treasury bills keep falling while lending rates rise...still the loans are rarely even gotten.

Nigerians have simply accepted their fate.
It's such a shame that propaganda and falsehood like this still thrives.

Sadly, urchins whose cerebral membranes have been parboiled by hunger and perpetual blind praise-singing will believe these lies and praise Baba for an imaginary feat.

God help Nigeria.

hmm..see who is talking o..or how Nigeria went into Limbo under your 1st four years.

NwaAmaikpe:
Sadly, urchins whose cerebral membranes have been parboiled by hunger and perpetual blind praise-singing will believe these lies and praise Baba for an imaginary feat.

God help Nigeria.

Are you any different from the urchins with how you celebrate and stick your head into Fatoyinbo's yansh in defence of rape?

Stupid old man, you use your body odour to put Nigeria in recession, dollars is still 365


Cover your mouth Odour before we enter depression

NwaAmaikpe:



There's no tangible evidence of Nigeria stepping out of recession.
Banks are shutting down branches and indiscriminately laying off workers.Cost of goods and services have skyrocketed, all the financial indices are not looking up either.

There is no enabling business environment, Power supply is epileptic, security is absent and the roads are a death trap.
How can business thrive in a land with non-feasible fiscal policies. Yet the interest rates on call deposits and Treasury bills keep falling while lending rates rise...still the loans are rarely even gotten.

Nigerians have simply accepted their fate.
It's such a shame that propaganda and falsehood like this still thrives.

Sadly, urchins whose cerebral membranes have been parboiled by hunger and perpetual blind praise-singing will believe these lies and praise Baba for an imaginary feat.

God help Nigeria.

This is by far one of the most intelligent mini comment I have read this year on social media. The reduction in Fixed income rate however good isn't sustainable. The government needs to borrow in the long run....and this would force rates up.....

Great Analysis Sir

The will was there to end it..

Kudos anyways

At least buhari has explained exactly what policies(which can be confirmed by the economists) he made that led us out of the recession.Can you guys who keep blaming buhari for the recession also explain how and what actions he made that led the country into a recession.Isnt it funny how i've never once come across such.