ADVERTISEMENT
The Sun Nigeria
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun
No Result
View All Result
The Sun Nigeria
No Result
View All Result
Home Cover

Recession: economy still buoyant, FG insists

... economic situation not as worst as developed countries

26th November 2020
in Cover, National
0
Recession: economy still buoyant, FG insists
0
SHARES
80
VIEWS
Share on FacebookShare on Twitter

By Fred Ezeh, Abuja

Amidst second economic recession in five years, Federal Government, on Thursday, maintained that Nigeria is still buoyant and remains that biggest economy in Africa.

The government said that, even though COVID-19 has forced economies of developed countries into recession, the economic situation in Nigeria is not as bad as the case in developed countries and the way people portrays it.

Secretary to Government of the Federation (SGF), Boss Mustapha, who spoke at the fourth quarterly meeting of the Nigeria Inter-Religious Council (NIREC), in Abuja, asked Nigerians to be hopeful and renew their trust in the ability of the economy managers to pull Nigeria out of recession as early as first quarter of 2021.

He said the government saw the signs of imminent recession few months ago, hence the decision to relaxed the COVID-19 lockdown because evidences are abound that the economy could not sustain prolonged closure, and Nigerians on their part have returned to their normal way of life, even when it could be disastrous because of possible second wave of the spread.

He said: “When the National Bureau of Statistics (NBS) released its third quarter report of the economy last week, it was a cause for jubilation for some of us because the second quarter report had indicated that the Gross Domestic Product (GDP) had contracted by -6.26 per cent.

“But the third quarter report was a clear indication that, yes!, most countries of the world are in economic recession including the most developed nations some of whom have up to two digit figure GDP contraction. But ours, instead of further negative declining recorded positive declining, in the sense that we moved from -6.2 per cent in second quarter to -3.7 per cent in third quarter indicating a different margin of over -2 per cent.

“Howbeit, it’s undisputable that we have a bouyant economy which is the biggest in Africa. It means that If we work together, we would exit recession as early as the first quarter of 2021. That’s the message we should spread to the world and not otherwise.”

He, thus reminded Nigerians of the need to adhere to non-pharmaceutical measures against COVID-19 pandemic, insisting that second wave is possible and could be more disastrous. “Don’t travel to high burden countries during the holiday season. Check the risk and take wise decision for your health,” he advised.

 

 

Click Here>>>>>>7 Natural Herbs to Finally End Premature Ejaculation and Weak Erection<<<<<<

Click Here>>>>>>Anti-kidnap and anti-theft device for tracking and listening<<<<<<

Tags: boss mustaphabuoyantrecession
Ajiri Daniels

Ajiri Daniels

Sun News Online Team

Related Posts

Buhari flags off SPW programme in Ebonyi
National

Buhari flags off SPW programme in Ebonyi

12th January 2021
ebonyi
National

COVID-19: Umahi orders fresh fumigation of public places in Ebonyi

12th January 2021
National

Kwara APC elders declare support for AbdulRazaq

12th January 2021
Next Post
sultan

Sultan rings alarm bell, says bandits fast overrunning the North

CUPP tackles APC over massive defections

CUPP tackles APC over massive defections

TRAINS

BREAKING! NUJ Lagos gets new exco

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Highlights

Record snowfall hits Japan, kills 13, injures hundreds

Indonesia uses unmanned undersea vehicle in search for crash victims

Kwara APC elders declare support for AbdulRazaq

Abia govt mulling over relocating Milverton luxury bus park

Concern grows over potential superspreader event during Capitol riot

U.S. House Democrats introduce article of impeachment against Trump

Trending

Buhari flags off SPW programme in Ebonyi
National

Buhari flags off SPW programme in Ebonyi

12th January 2021
0

From Chijioke Agwu, Abakaliki President Muhammadu Buhari, yesterday said beneficiaries of the 774,000 extended Public Work Programme...

MILITANTS

Militants kill 2 female Afghan army officers, wound others

12th January 2021
ebonyi

COVID-19: Umahi orders fresh fumigation of public places in Ebonyi

12th January 2021
Record snowfall hits Japan, kills 13, injures hundreds

Record snowfall hits Japan, kills 13, injures hundreds

12th January 2021
Indonesia uses unmanned undersea vehicle in search for crash victims

Indonesia uses unmanned undersea vehicle in search for crash victims

12th January 2021
ADVERTISEMENT

Follow us on social media:

Categories

  • Abuja Metro
  • Arts
  • Broken Tongues
  • Business
  • Business Week
  • Cartoons
  • Citizen Joe
  • Columns
  • Cover
  • Culture
  • Duro Onabule
  • Editorial
  • Education Review
  • Effect
  • Elections
  • Entertainment
  • Events
  • Features
  • Femi Adesina
  • Food & Drinks
  • Frank Talk
  • Funke Egbemode
  • Gallery
  • Global Square by Kenneth Okonkwo
  • Health
  • Insights
  • Kalu Leadership Series
  • Kunle Solaja
  • Kunle Solaja
  • Letters
  • Lifeline
  • Lifestyle
  • Literary Review
  • Marketing Matters
  • Muiz Banire
  • National
  • News
  • Offside Musings
  • Opinion
  • oriental news
  • Politics
  • Press Release
  • PressClips
  • Public Sphere
  • Ralph Egbu
  • Shola Oshunkeye
  • Sideview
  • South-west Magazine
  • Sponsored Post
  • Sporting Sun
  • Sports
  • Sun Girl
  • Tea Time
  • The Flipside – Eric Osagie
  • The Sun Awards Live
  • The Sun TV
  • Thoughts & Talks
  • Time Out
  • Today's cover
  • Tola Adeniyi
  • Travel
  • Travel & Tourism
  • Trending
  • TSWeekend
  • Turf Game
  • Uncategorized
  • Updates
  • Views from Abroad
  • Voices
  • World
  • World News
  • Home
  • About Us
  • Paper Ad Rate
  • Online Ad Rate
  • The Team
  • Contact Us
  • Privacy Policy

© 2019 The Sun Nigeria - Managed by Netsera.

No Result
View All Result
  • Home
  • National
  • Columns
    • Broken Tongues
    • Capital Matters
    • Diabetes Corner
    • Duro Onabule
    • Femi Adesina
    • Frank Talk
    • Funke Egbemode
    • Insights
    • Kalu Leadership Series
    • Kunle Solaja
    • Offside Musings
    • PressClips
    • Public Sphere
    • Ralph Egbu
    • Shola Oshunkeye
    • Sideview
    • The Flipside – Eric Osagie
    • Tola Adeniyi
  • Business
  • Politics
  • Entertainment
  • The Sun TV
  • Sporting Sun

© 2019 The Sun Nigeria - Managed by Netsera.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist