Nigeria Will Exit Recession Next Year – Statistician General

Nigeria Will Exit Recession Next Year – Statistician General

The Statistician General of the Federation, Dr. Yemi Kale has said barring further economic upheavals or exogenous shocks, the Nigerian economy is expected to exit the current recession in 2018, THIS DAY reports.

His forecast on the economy is more conservative than that of other watchers of the economy, including the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, Special Adviser to the President on Economic Matters, Dr. Yemi Dipeolu, the International Monetary Fund and World Bank, which have forecast that the Nigerian economy will exit the recession this year.

In an interview with Economic Confidential in Abuja, Dr. Kale said that “if oil prices do not collapse and the Niger Delta remains stable, by 2018 we would recover.” On the performance of the Nigerian economy in the past one year, he added; “It was an extremely difficult period and we all felt it. But I will say that most of the indicators suggest that we are coming out of it.”

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