Politicians were up in arms yesterday over the news that Nigeria was out of recession.To the Peoples Democratic Party (PDP),
the National Bureau of Statistics’ (NBS’) figures showing that Nigeria
is out of recession are “nothing to celebrate”....
But the ruling All Progressives Congress
(APC) defended the government’s economic policies which led to the
country’s exit from recession.
Minister of Information Alhaji Lai
Mohammed and Minister of Budget and National Planning Udoma Udo Udoma
applauded the policies and promised to deepen them.They reeled off facts and figures to show that the economy was in good hands.
Besides, they said, Nigerians will soon begin to feel the impact of the economy’s good fortune.
PDP National Chairman Ahmed Makarfi cautioned the government against politicising the issue.
He blamed the APC administration for
bringing the economy into recession with wrong policies, stressing that
the NBS’s report did not reflect the reality of the economic situation
of the people.
The APC has always stressed the fact
that the PDP plunged the economy into trouble by not saving for the
rainy day when oil prices rose beyond $100 a barrel, embarking on
unprecedented profligacy and swinmming in corruption.
Makarfi said: “Nobody will want his
country to be in recession and it’s a matter which affects everybody,
irrespective of political inclination. So it’s a matter that we must
never politicize.
“The country did not get into recession
under the PDP administration. It nosedived into recession because of the
policies that the APC administration came with, which frightened
foreign investors, which led to capital flight.
“And, of course, the Nigerian economy is
resilient, Nigerians are hardworking people and all of us that have
been working to make sure that this country comes out of recession both
from the public and private sectors have to share in the credit of
whatever efforts have been put in place.
“So it is not a one party issue. And in
any case, even government itself has said that we must not become lazy
and think that we are out of the woods.
“Getting out of recession can be because
of one or two indices which may not even have direct bearing on
ordinary citizens. But when you look at the figure collectively and
holistically, it will indicate that you are out of a problem when you
are not really out of a problem.
“You will be out of a problem when
people are able to eat well, people are secured, people find jobs,
infrastructure in good condition, students don’t find it difficult to
pay common tuition fees.
“But because all these issues are there
and then we say we are out of recession and we are clapping? We have
nothing to clap for. We have a lot to do.
“That is what PDP intends to correct
when we come to power. But, be that as it may, what we can do, even at
the moment, is to partner with those in power to make sure that the
condition of every Nigerian, especially the ordinary people is better”.
To PDP National Publicity Secretary Dayo
Adeyeye, considering the inflation rate of 16.05 per cent and annual
population of 2.67 per cent, the recovery is insignificant.
“It is impossible to escape the
conclusion that the recovery of the Nigerian economy is weak, feeble and
insufficient to herald the sort of celebration and backslapping being
displayed by officials of this APC led-administration.”
“We are of the firm belief that there is
nothing to celebrate until the so-called economic growth improves the
harsh living conditions imposed on millions of ordinary Nigerians by the
Buhari administration’s incoherent economic policies and is reflected
in a reduction of the high cost of goods, services and staple foods
necessary for everyday living.”
In a statement by National Publicity
Secretary Bolaji Abdullahi, the APC said the Buhari administration was
determined to pull the country out of the woods.
“The All Progressives Congress (APC)
rejoices over latest disclosures by the National Bureau of Statistics
(NBS) and the Central Bank of Nigeria (CBN) respectively that the
country has exited recession after five consecutive quarters of
contraction and the country’s foreign reserve has hit $32 billion, the
highest mark since January 2015.
“Nigerians will recall that during the
2015 elections, the APC promised to curb corruption, restore the economy
and ensure security of the nation. We commend the administration of
President Muhammadu Buhari on the economic recovery efforts which have
evidently started to yield fruits.
“The APC also commends the National
Assembly as it continues to work with the executive on improving the
economy and other areas of national life.
“Commendably, the country’s exit from
recession was in tandem with the current administration’s forecast that
the country will experience economic growth in 2017. This is another
demonstration that the President Buhari APC-led administration is one
that keeps its promises.
“The APC thanks Nigerians for their
patience, understanding and support for the President Buhari
administration while the economy was in recession. Although there
remains much more work to be done, we assure Nigerians that the
administration remains focused on its effort to sustain the economy on
the path of growth.
“As the President Buhari administration
works assiduously to build a new solid foundation, credible image and
pull the country out of the present hardship, we appeal for continued
patience and the cooperation of Nigerians. While these are difficult
times for many Nigerians, we must sustain the hope that brighter days
are ahead of us.”
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