There are apparent signs that the nation's economy may soon be out of the woods. The Minister of Finance, Kemi Adeosun made the disclosure at a Town Hall meeting held in Abuja Tuesday, to x-ray the achievement of the current administration so far.
In her presentation, the Minister blamed the recession on plunge in oil revenue and misappropriation of funds by past administrations.
She added that apart from working assiduously to come out of recession, the government was also intensifying efforts in the area of blocking wastages, increasing Gross Domestic Product (GDP) and embarking on single window project execution.
According to her "Nigeria is coming out of recession; we are beginning to see the signs and we will come out to become more stronger". She also enjoined Nigerians to continue to support the administration in its quest to deliver the desired change.
In March, 2017, for the first time in 15 months, Nigeria's inflation rate dropped to 17.26% from 18.72% in January, 2017 according to the National Bureau of Statistics (NBS) in a report published in March.
According to the report, the nation's inflation rate has continued to drop since March, for the first time in 15 months. The Bureau attributed the development to intervention efforts introduced by the government including increase in liquidity.
It assured that if the efforts are sustained, the nation would be out of recession sooner than expected. This much was also corroborated by the Country Manager, International Finance Corporation, in the World Bank, Eme Essien-Lore in a March 2017 interview with journalists in Lagos. She noted that available records indicate the nation's economy would soon rebound and recover from recession.
