Nigeria’s exit from recession shows economic plan working, presidency declares

Nigeria’s exit from recession shows economic plan working, presidency declares

- The federal government's economic plan is working, according to the presidency

- As a result of this, Nigerians have been told to expect more good things from the government

- Nigeria had slid into recession in the 3rd quarter of 2020, but the latest GDP figures show the country is out

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The federal government has praised itself over the country's exit from recession. According to the government, this is a key indicator of the success of the ongoing Economic Sustainability Plan (ESP) approved by the government.

This was disclosed by Laolu Akande, spokesperson for Vice President Yemi Osinbajo.

According to him, Nigerians should expect more as the implementation of the plan is gathering greater momentum.

Akande disclosed this while reacting to the latest GDP figures for the last quarter of 2020, Premium Times reports.

Buhari had approved the ESP plan last June and the vice president was asked to lead the implementation of the plan.

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Nigeria’s exit from recession shows economic plan working, presidency declares
The presidency has declared that Nigeria’s exit from recession shows economic plan working. Photo: @akandeoj
Source: Twitter

Meanwhile, had reported that the ruling All Progressives Congress (APC) has commended President Muhammadu Buhari for steering the Nigerian economic ship out of recession.

The party was reacting to the latest report by the National Bureau of Statistics (NBS) which shows that Nigeria exited recession in the last quarter of 2020.

In a statement sent to on Thursday, February 18, and signed by the acting national secretary of the party, Senator John J. Akpan Udoedehe, the APC said Nigeria's exit from recession gives credence to Buhari's next level plans for the country. also reported tht as the Nigerian economy continues to be unpredictable, stakeholders in the Niger Delta have canvassed for investors in the region to invest in Micro, Small, and Medium Enterprises (MSMEs) as a catalyst to create employment and ensure global competitiveness.

This was the position canvassed at the maiden edition of the Niger Delta Micro, Small, and Medium Enterprises Summit 2021 held in Port Harcourt, the Rivers state capital.

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Speaking at the event, the convener of the summit, Moses Siasia, noted that the greatest contributory factor to the growth in Nigeria’s Gross Domestic Product is a collection of the committed efforts from young people, including youths of the Niger Delta.

Siasia said the youths of Nigeria have been at the forefront of pioneering growth and innovations in technology, agriculture, entertainment, and sports which have brought in revenues for the country.


Aanu Adegun is a politics and current affairs content editor at with over 7 years of experience in both digital and traditional media. A graduate of English Studies from Adekunle Ajasin University, Akungba Akoko, Ondo state, Aanu started his journalism career as a features writer. Aanu, who is also a creative writer has written books and children magazines. He once anchored some specialised pages of a national newspaper. Aanu is also a satirist.


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