“Recession is basically when you have two quarters of negative growth. We had a first quarter of negative growth and we are still waiting to get all the figures for the second quarter, which has just ended in June. The National Bureau of Statistics (NBS) will be giving us all the figures but if as we suspect the second quarter is also negative, then of course technically you could say that we are in recession if those figures turned out to be so. But even if we are not, the situation in the economy right now is one that, of course, we are addressing. Some of it was expected, some of it was not. We did expect the low oil price but we did not expect the level of disruption that we got in the Niger Delta, such that oil production went down and we are not likely to achieve the 2.2 million barrels per day because it went down to 1.2 million barrels per day, a little over about 1.3 million barrels per day. So you can imagine the impact of that. Measures are being taken to address those issues. We expect that by the third quarter we will start to pick up and we expect to finish the year in positive territory. That is what we are expecting. We expect to be marginally positive by the end of this year. But by next year we will now start to pick up and we will have much more growth next year,” he said.
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Okay o... But I do not trust this govt
ReplyDeleteI pray so mbok
ReplyDeleteTalk is cheap.
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it better picksup its real out here
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We pray so! And hope this is not another promise in futility from APC.
ReplyDeleteIs that Third quarter of the world or what?please i don't get the what the imbecilic man IS SAYING CAN SOME ONE EXPLAIN AM FOR ME?
ReplyDeletethe thing wey i never hear in government is what i keep hearing in terrorist buhari government,AM NOT SURPRISE ANY THIS IS WHAT U GET WHEN U VOTE AN ILLITERATE IN POWER WITH AN ILLITERATE KINSMEN IN CABINET.
MR MAN KEEP DANCING WITH THEM VERY SOON THEY WILL HUMILIATE U AND FIRE U HE THAT IS DANCING WITH FULANI people IS DANCING WITH DEATH
#sad indeed
we pray so Hon MInister
ReplyDeleteIs that Third quarter of the world or what?please i don't get the what the imbecilic man IS SAYING CAN SOME ONE EXPLAIN AM FOR ME?
ReplyDeletethe thing wey i never hear in government is what i keep hearing in terrorist buhari government,AM NOT SURPRISE ANY THIS IS WHAT U GET WHEN U VOTE AN ILLITERATE IN POWER WITH AN ILLITERATE KINSMEN IN CABINET.
MR MAN KEEP DANCING WITH THEM VERY SOON THEY WILL HUMILIATE U AND FIRE U HE THAT IS DANCING WITH FULANI people IS DANCING WITH DEATH
#sad indeed
Hmmmm
ReplyDeleteHmmmm, only a dumb ass believes this! What's the assurance? #HopelessHope
ReplyDeleteThe government of technicalities.
ReplyDeleteCan we survive another 3months of Octogenarians whose thinking ability ended some 25years ago?
Story!
ReplyDeleteLet's watch and see then...
ReplyDeleteNa me talk am!
Long Live Lib!!!
I believe
ReplyDeleteLWKM. Laugh at Nigeria's funniest pictures here
U guys have started this una promise again, later u guys will deny again.
ReplyDeleteNA SO, AUNTY LINDA ABEG NEXT.
ReplyDeleteAUNTY LINDA 👩
Amen
ReplyDelete*********************ma ayi nwuchaa*****e go pick up come meet animals*******
ReplyDeleteLying Governement
ReplyDeleteWe hope and pray. Linda take note!
ReplyDeletehoped so
ReplyDeleteWhy should we believe him after making such a huge blunder.
ReplyDeleteIf the economy doesn't pick up on 3rd quarter, then you blame it on Jonathan as usual.
ReplyDeleteI Have no business with Nigerias economy
ReplyDeleteakuko
ReplyDelete-D great anonymous now as Vivian Reginalds