Ex-President says Nigeria’s economy is not booming yet

chika ebuzor

November 6, 2017 9:11 AM

Obasanjo also called on Nigerians to be patient, adding that the current economic hardship will soon be over.

Former President Olusegun Obasanjo has said that the Nigerian economy is not booming yet.

According to Punch, the ex-President said this at the 52nd Annual Service of Songs of the 1st ECWA Church, Ilorin, Kwara state.

“This current hard time will not last. The economy is not booming. Everyone is feeling the heat but people should be patient. The small and large scale business owners are all feeling it. It is normal for people to experience hardship as a result of the current economic challenges. People should be patient; it will not last.”

Nigeria out if recession

In September 2017, the National Bureau of Statistics (NBS) announcedthat Nigeria has come out of recession.

Reports say the country’s economy officially slipped into recession in August 2016 following two consecutive quarters of negative growth.

ALSO READ:Figures that saw Nigeria out of recession

Following the NBS announcement, President Muhammadu Buhari, on Tuesday, September 5, 2017, also said that the real impact of coming out of recession will be better felt when ordinary Nigerians experience a change in their living conditions.

chika ebuzor