[Abuja]–Nigeria’s Finance Minister, Kemi Adeosun, has said that the Federal government plans to only to move Nigeria out of recession but also to grow the economy sustainably.
The Minister made this known during a CNBC interview on Thursday.
She said that the administration is ensuring that the country moves away from recession through the several policies made, and not necessarily through the efforts of the Organization of Petroleum Exporting Countries, OPEC.
According to her, oil revenues account for around 10 percent of Nigeria’s overall GDP, therefore, the implementation of domestic policies would hold the key to a long term economic recovery.
“I’m not sure that I agree that OPEC is the reason that we will get out of recession. We will get out of recession because we are following the right type of policies. Our objective is not just to get out of recession, our objective is to grow and grow sustainably,” Adeosun said when asked about Nigeria’s policy implementation.
It should be remembered that the April Sales Managers’ Index (SMI) data had suggested earlier that the Nigerian economy is continuing to grow out of the recession which saw 10 months of consecutive contraction in 2016.Please Follow Us @ThePageNg