Amidst the global fall in oil price and economic melt down occasioned by the coronavirus pandemic, Nigeria’s economy has pulled out of recession following growth in agriculture and telecommunication.
According to the National Bureau of Statistics, Gross domestic product grew 0.11% in the last three months.
A growth which was able to offset a sharp drop in oil production.
Upon this background, it is expected that the Africa’s largest economy will recover faster as oil price and output increase this year.
Meanwhile, Nigerians have commended President Muhammadu Buhari on his consistent effort to revitalize the nation’s economy.
Senator John James Akpanudoedehe on behalf of the ruling All Progressives Congress eulogized the President’s commitment as he described the development as promise kept.
As Nigerians hail President Muhammadu Buhari on winning the fight against recession, economic analysts have called on the government to make the impact more feasible to the common Nigerian.