The Federal Government has denied claims that her economy is crumbling as Nigeria’s total national crude oil production currently stands at 2.06 million barrels per day.

Addressing a news conference in Abuja, the Senior Special Assistant to President Goodluck Jonathan on public affairs, Doyin Okupe said the Nigerian economy, like other oil dependent ones globally, often suffer from drop in sales and fluctuation in international pricing.

Mr Okupe said the President Jonathan administration has implemented key reforms to reduce dependence on oil and these reforms have resulted in the agricultural sector alone contributing over 40 percent to the gross domestic product in two years.

He said that the socio-economic challenges which had existed for several decades and which the current transformation agenda is effectively tackling are clearly spelt out in the mid-term report presented to Nigerians by President Jonathan a few weeks ago and it is therefore not true that the nation’s economy is crumbling.

He further said that under the present administration, Nigeria’s recurrent expenditure dropped from 74 percent in 2011 to 68 percent in 2013 and will further go down in the next fiscal year.