News: Nigeria is out of a recession?

Good news from several news platforms, Nigeria saw a growth in the second quarter of 2017. This growth is said to be driven by the agricultural sector. News Agency of Nigeria reported that this sector continued a the positive growth it had maintained throughout the recession, growing by 3.0% in second quarter of 2017.

Reactions

Commendation from USAID http://www.premiumtimesng.com/news/more-news/242532-recession-exit-usaid-applauds-nigerian-govt.html

Report by the National Bureau of Statistics has credibility because farmers especially bee farmers are now selling more and making more profit.

Doubt: “It is not true” http://dailypost.ng/2017/09/06/fg-lying-nigeria-not-recession-onovo/, where former presidential candidate Onovo argues that there is no way Nigeria is out of a recession with high unemployment. And accuses the government of corruption.

He has a good point, the negative relationship between unemployment and gdp growth is without doubt a key economic indicator. It is however good to hear of the growth in one sector other than the oil sector for a change.

 

 

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