The Presidency has declared that the Nigerian economy
is performing better than the predictions of the International Monetary
Fund, IMF. It, however, admitted that the inflation and unemployment
rates in the country had remained high despite efforts by the current
government.
The Special Adviser to the President on Economic Matters, Dr.
Adeyemi Dipeolu, stated this in a statement while reacting to the Gross
Domestic Product figures for the 2016 second quarter by the National
Bureau of Statistics, NBS.
Dipeolu noted that the report, while confirming a temporary
decline, has also indicated what he called hopeful expectation in the
country’s economic trajectory, stressing that there were clear
indications that the second half of the year will be better.
“Besides the growth recorded in the agriculture and solid mineral
sectors, the Nigerian economy in response to the policies of the Buhari
presidency is also doing better than what the IMF had estimated with
clear indications that the second half of the year would be even much
better,” he said.
The presidential aide assured that the current administration would
continue to work diligently on the economy and engage all stakeholders
to ensure that beneficial policy initiatives were actively pursued and
the dividends delivered to the Nigerian people.
He also attributed the current challenges to a sharp contraction in
the oil sector due to huge losses of crude oil production as a result
of vandalisation and sabotage.
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