- The chief executive officer of the National Bureau of Statistics (NBS), who is also the statistician-general of the federation, Yemi Kale, has said that Nigeria has not recovered from recession
- Kale said that part of the reason this is so is the herdsmen-farmers clashes that has stunted the growth of the Gross Domestic Product (GDP) in 2018
- However, he said that the International Monetary Fund (IMF)'s prediction that the nation's economy will improve by 2.1 % before the close of 2018 was achievable
Yemi Kale, the statistician-general of the federation, has said that Nigeria’s economy has not recovered from the 2016 recession.
Being a chief executive officer of the National Bureau of Statistics (NBS), Kale said that the rampant clashes between farmers and herdsmen had dragged down the Gross Domestic Product (GDP) in the first quarter of 2018.
The Cable reported on Sunday, August 19, that Kale lamented the performance of the nation’s economy in the second quarter of the year.
Kale stated: “I am not going to give the final figures because the work is not even completed but from the numbers I am seeing, it is looking quite flat.
“Surprisingly, but I expected the numbers should be much better; it is looking very similar to the first quarter. I think the economy is still struggling out of recession and that is what the numbers are showing. For example, we have seen challenges in agriculture because of the clashes that are happening in different parts of the country. Obviously, if people cannot go to the farms; it is going to be a problem.
“Agriculture is not just crops; when you destroyed a farmland or even cattle rearing is also part of agriculture, so the back and forth are affecting both crop production and livestock and agriculture is the biggest part of our GDP and that is slowing down the economy.”
However, he remarked that the forecast of the International Monetary Fund (IMF) that the economy would grow by 2.1 per cent by the end of 2018 was realisable. He also commented on the recent liveability ranking by the Economist Intelligence Unit, adding that Lagos was deserving of the rating.
According to him, rankings like that use certain indicators such as education and health, which are generally poor in the country.
Meanwhile, Legit.ng reported that the presidency on Friday, June 1, declared that it had released a document outlining the policy and programme of achievements of the President Muhammadu Buhari-led administration since its inception three years ago.
According to a statement by the senior special assistant to the president on media and publicity, Garba Shehu, the 41-page document highlighted the administration’s successes in the economy, security and the fight against corruption, “which are the three priorities of the government’s change agenda.”
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