The Federal Government has backed a statement made by the Governor of the Central Bank of Nigeria, Godwin Emefiele, that Nigeria is gradually moving out of recession.
The Minister of Information and Culture, Mr Lai Mohammed, represented by the Managing Director of the News Agency of Nigeria (Nan), Mr. Bayo Onanuga, made the assertion at the biennial convention of the Nigerian Guild of Editors in Lagos.
Mr Mohammed backed his claim partly by pointing out that for two consecutive months, the National Bureau of Statistics has also reported a fall in inflation rate, saying that the exchange rate is regaining some sanity.
The minister also said that the Buhari administration and collective will of Nigerians have shamed doomsday prediction that the nation’s recession could worsen into a depression.