Recession Will Soon Be History, Osinbajo Assures

The Vice President, who made the remark via his official Twitter handle, @ProfOsinbajo, added that with the measures taken so far by the government, “recession will soon be history”.

Nigeria officially entered recession for the first time in more than two decades in August last year after Africa’s biggest economy contracted for a second consecutive quarter.

The economy contracted 2.1 per cent in the three months to the end of June, worse than analysts expected, while inflation hit an 11-year high at nearly 19 per cent in December.

Osinbajo further commended the Inspector General of Police for what he termed “professional” handling of Monday’s nationwide anti-government protest.

Recall that some cross section of Nigerians on Monday took to the street to protest on the “deteriorating” state of the economy and the Federal Government’s approach towards economic recovery and growth.

He noted that some ministers, alongside government delegates are on a tour round the country, to engage with Nigerians and enlighten them on the policies of the Buhari-led administration.

1. I commend the IG & his officers for handling the protests with professionalism & respect for the rights of citizens. PYO

— Prof Yemi Osinbajo (@ProfOsinbajo) February 7, 2017

2. We are committed to a continuous engagement with our people to explain govt policies, receive advice & criticism. PYO

— Prof Yemi Osinbajo (@ProfOsinbajo) February 7, 2017

3. Cabinet Ministers have gone round 8 States so far for Town Hall meetings, the most recent was yesterday in Ilorin, Kwara State. PYO

— Prof Yemi Osinbajo (@ProfOsinbajo) February 7, 2017

4. There will be more of such meetings in other States yet to be visited. PYO

— Prof Yemi Osinbajo (@ProfOsinbajo) February7, 2017

5. With complete focus on improving the economy every day, the recession will soon be history. PYO

— Prof Yemi Osinbajo (@ProfOsinbajo) February 7, 2017