Nigeria’s exit from recession shows economic plan is working — FG

Nigeria’s exit from recession is a key indicator of the success of the ongoing Economic Sustainability Plan (ESP) approved by the Federal Government, the federal government has said.

Laolu Akande, spokesperson for Vice President Yemi Osinbajo, said Nigerians should expect more as the implementation of the plan is gathering greater momentum.

Mr. Akande made these claims while updating the media on ESP progress and reacting to the latest GDP figures for the last quarter of 2020.

According to him, “Like we explained late last year after the release of the third-quarter figures, the Economic Sustainability Plan, which was a calculated intervention by the Buhari Presidency, is driving the Nigerian economy in the right direction-upwards, and Nigerians can expect more because the administration is unrelenting in its determination to pursue the steady recovery and growth of our economy.”

Nigeria slipped out of recession in the last quarter of 2020 as a GDP growth of 0.11 percent was recorded.