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Exit From Recession Excites FG, Senate …Makarfi Says ‘Statistics Not Reality’
The Federal Government has welcomed exit of Nigeria from recession, but with caution and optimism.
It said it would continue to drive economic growth by vigorously implementing the Economic Recovery & Growth Plan (ERGP) launched earlier this year by President Muhammadu Buhari.
A statement by Senior Special Assistant to the President on Media & Publicity, Office of the Vice President, Mr. Laolu Akande said National Bureau of Statistics broke the news.
He said: “The overall economic plan and direction of the administration has resulted, among others, in sustained restoration of oil production levels.’’
The sustenance, he explained, was made possible because of the enhanced security and stability in the Niger Delta.
He backed up his statement with that also released by the Economic Adviser to the President, Dr. Adeyemi Dipeolu, on the analysis carried out on 2nd quarter 2017 economic performance of National Bureau of Statistics (NBS).
“The figures released by NBS for the second quarter of this year (Q2 2017) show that the economy grew by 0.55% from -0.91% in Q1 2017 and -1.49% in Q2 2016.
“This in effect means that the Nigerian economy has exited recession after five successive quarters of contraction,’’ Dipeolu said.
This positive growth was attributable to both the oil and non-oil sectors of the economy, he said.
Growth in the oil sector which has been negative since Q4 2015 was positive in Q2 2017 as it rose by 1.64% as compared to -15.60 in Q1 2017; an increase of up to 17 percentage points.
“This improvement is partly due to the fact that oil prices which have improved slightly from the lows of last year have been relatively steady as well as the fact that production levels were being restored.’’
According to NBS, the non-oil sector grew by 0.45% in Q2 2017, a second successive quarterly growth after growing 0.72% in Q1 2017.
“This increase which was not quite as strong as it was in Q2 2016 reflects continuing fragility of economic conditions.
“However, given that nearly 60% of the non-oil sectors contribution to GDP is influenced by the oil sector, growth in the oil sector will help boost the rest of the economy.
“The positive growth seen in agriculture when the rest of the economy was contracting was maintained at 3.01% which is encouraging especially if seasonal factors are taken into account.’’
Manufacturing growth, he said, was also positive at 0.64% and although lower than the previous quarter’s growth of 1.36%, it was a noticeable improvement over the -3.36% experienced in Q2 2016 and a continuation of the turnaround of the sector.
Solid minerals which remained a priority of the Administration also continued to grow and in Q2 2016 by 2.24%.
Generally, industry as a whole grew by 1.45% in Q2 2017 after nine successive quarters of contraction starting in Q4 2014.
“This positive development was somewhat overshadowed by the continued decline in the services sector which accounts for 53.7% of GDP. Nevertheless, electricity and gas as well as financial institutions grew by 35.5% and 11.78% respectively in Q2 2017.
“The GDP figures give grounds for cautious optimism especially as inflation has continued to fall from 18.72% in January 2017 to 16.05% in July 2017.
“Foreign exchange reserves have similarly improved from a low of $24.53 in September 2016 to about $31 billion in August 2017.’’
“In the same vein capital importation grew by 95% year-on-year driven by portfolio and other investments but also notably by foreign direct investment which increased by almost 30% over the previous quarter.
“Foreign trade has also contributed to improving economic conditions with exports amounting to N3.1 trillion in Q2 2017 while imports which increased by 13.5% amounted to N2.5 trillion in the same period. The overall trade balance thus remained positive at N0.60 trillion.’’
The analysis shows that unemployment remained relatively high but job creation was expected to improve as businesses and employers increasingly respond more positively to the significantly improving business environment and favourable economic outlook.
“Besides, as key sectoral reforms in both oil and non-oil sectors gain traction, the successful implementation of ERGP initiatives such as N-Power and the social housing scheme will boost job creation.
“Food inflation also bears watching as it has remained quite high and volatile due mostly to high transport costs and seasonal factors such as the planting season.
“Investments in road and rail infrastructures, increased supply and availability of fertilizers and improvements in the business environment should contribute to the easing of food prices.’’
Dipeolu said that the end of the recession was welcomed but economic growth remained fragile and vulnerable to exogenous shocks or policy slippages.
Similarly, the 8th Senate, yesterday applauded the report by the National Bureau of Statistics indicating that Nigeria’s economy has officially exited recession.
The Senate in a statement by Chairman of its Committee on Media and Public Affairs, Senator Aliyu Sabi Abdullahi, stated that it was truly commendable that after five consecutive quarters of contraction, the economy grew by 0.55 per cent in the second quarter of 2017.
Abdullahi also stated that the improved performance of the trade, manufacturing, agriculture and oil sectors was an indication that with carefully aligned policy and legislative interventions, Nigeria’s economy could thrive beyond current forecasts and expectations.
The statement partly read, “The Senate received Q2 NBS economic report with great excitement. We are delighted that government’s response to the economic recession has begun to yield tangible results.
“The public will recall that in the days following the announcement of the 2016 recession, the Senate initiated steps and tabled 21 recommendations that it submitted to the executive for immediate action. We also listed out economic priority bills, many of which have now been passed, or at the final stage.
“We are also happy to note that many of the economic recommendations, specifically in the areas of retooling our agriculture and trade policies were adopted. This shows that the ‘all hands on deck’ approach was necessary from both branches of government.”
Abdullahi further noted that although the nation was now out of the recession, the Senate remained committed to seeing that the unemployment rate and high cost of living in the country were brought down.
He added, “The rising unemployment in the country is an issue that is of much concern to all of us. Additionally, the rising cost of food prices and basic services in the country still affects millions of households. This is why we will continue to work on our laws, specifically in the areas of access to credit to promote more opportunities for small business owners; and opening up more sectors to private sector participation, so that there will be more competition in our markets — which will lead to lower prices.
“We will also continue to work with the executive to ensure that our policy and legislative objectives, specifically as they relate to the economy, are well aligned.”
However, the Peoples Democratic Party (PDP) has urged Nigerians not to see every statistics as an indication of reality, following yesterday’s report by the National Bureau of Statistics (NBS) that the nation has exited the economic recession that worsened living conditions in the past two years.
The NBS had in its 2017 second quarter report yesterday indicated that the Nigerian economy has exited recession, having notched up a growth output of 0.55 per cent in the oil, agriculture, manufacturing and trade sectors.
According to the bureau, “In the second quarter of 2017, the nation’s Gross Domestic Product, GDP grew by 0.55 % (year-on-year) in real terms, indicating the emergence of the economy from recession after five consecutive quarters of contraction since the first quarter of 2016.”
Expectedly, the report has continued to elicit diverse reactions with some stalwarts of the ruling All Progressives Congress (APC) basking in ecstasy.
In an exclusive chat with newsmen on the issue, Chairman, National Caretaker Committee of the PDP, Senator Ahmed Makarfi said it is the wish of every Nigerian for the country to overcome the current hardship, warning however that statistics differs from reality.
“PDP is not praying for the country to be in recession. Statistics may indicate one thing, but reality is different,” he said.
Makarfi’s position is not out of tune with that of millions of Nigerians struggling to eke out a living in the past few years following the crash in the price of crude oil in the international market.
It would be recalled that the National Bureau of Statistics (NBS) had said that Nigeria has exited its worst economic recession in more than two decades, notching up growth of 0.55 per cent in the second quarter of 2017.
In its report released, yesterday, the data showed that the economic recovery was driven by improved performance of oil, agriculture, manufacturing and trade sectors of the economy.
It said that since the first quarter of 2016, the Nigerian economy had contracted for five consecutive quarters.
According to the report, the West African powerhouse slipped into recession for the first time in more than two decades in August 2016.
“In the second quarter of 2017, the nation’s Gross Domestic Product (GDP) grew by 0.55% (year-on-year) in real terms, indicating the emergence of the economy from recession after five consecutive quarters of contraction since Q1 2016,” it said.
Nigeria, which depends on oil sector for 70 per cent of state revenues and 90 per cent of export earnings, has been battered by lower oil prices since mid-2014, which have slashed government revenues, weakened the currency and caused dollar shortages, frustrating business and households.
The nation’s economic woes were exacerbated by militant attacks on key oil infrastructure in the restive Niger delta, slashing output.
The crisis is heaping pressure on President Muhammadu Buhari, who took office in May, 2015 on an anti-corruption platform.
His government is also grappling with separatist agitation in the country’s South-East, farmer-herders clashes in the central, Boko Haram insurgency in the northeast and kidnappings and militancy in the South.
Analysts said the outlook for more growth looks positive for Nigeria.
“You can see that there have been improved performances in non-oil sectors in the second quarter,” said Bismark Rewane of the Lagos-based Financial Derivatives Company.
“The prospects for more robust growth are bright. I hope the current economic diversification efforts which see efforts being given to agriculture and mining will be sustained,” he said.
He said the nation’s economy would also buoy if ongoing truce with Niger delta militants was intensified.
“If there are no attacks on oil facilities and production is increased and Nigeria earns more money, then the economy will stabilise.”
Nigeria’s oil output has ramped up to an average of two million barrels per day from a low of 1.3 million in 2016 following government peace talks with the oil rebels.
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Fubara Pledges Support For Corporate Organisations In Rivers …Says PPP Business Model Responsible For NLNG’s Success
Rivers State Governor, Sir Siminalayi Fubara, has pledged the continued support of his administration for the Nigeria Liquified Natural Gas (NLNG) Limited.
Fubara gave the assurance while receiving the new Managing Director and Chief Executive Officer of the NLNG, Mr Adeleye Falade, who paid him a courtesy visit at Government House, Port Harcourt.
He assured that his administration would continue to contribute its own quota in support of the NLNG.
According to him, the success of the organisation is equally the success of the government of Rivers State and the success of the Federal Government.
“Our duty is to make sure that we support whoever is operating in our state. We are the ones here. If we don’t support you and you don’t succeed, we also will not succeed and Mr President will also not succeed.
“So, the success of your establishment is the success of our state, and overall success of Nigeria. So you can count on our support. Wherever you think we need to come in to support you, please do not hesitate to call upon us.
“You just mentioned here that your predecessor left a handover note showcasing the level of support that he got from the state. It is not going to be different in your own case. I can assure you that. I will also ensure that other units of the government will liaise with you when necessary. So even if you can’t get to me, you can always get to them and if there is anything we can do to help your establishment succeed, we will do it for you,” he said.
The governor attributed the success of the NLNG to the Public Private Partnership ( PPP) business model adopted by the Federal Government and the multinational oil companies.
The NLNG is jointly owned by Nigerian National Petroleum Corporation (NNPC) with 49%, Shell Gas B.V. with 25.6%, Total LNG Nigeria Ltd with 15%, and Eni International with 10.4%.
The partnership model allows for shared risks, costs, and expertise in the LNG sector.
The governor noted that the NLNG has not only survived the difficult business environment but has made sustained progress in the nearly three decades of its existence.
According to him, the decision of the Federal Government to allow the multinational oil companies who have the needed expertise to run the establishment while government plays a supervisory role over it has largely been responsible for its success.
“I’m very proud to say that if there is one establishment that has shown resilience, that has survived in the face of all the political issues prevalent in this country, it is the NLNG. And what is the reason? The reason is very simple. Government has no business in business. That is the truth. Leave the business for those people who can operate it. Let the government play its supervisory role to ensure that there is compliance with the laws; ensure that standards are maintained and also ensure that the right people with the needed expertise are at the helm of affairs. That’s all. I think that is the reason why we still record a lot of successes in NLNG,” he said.
In his opening remark, the new NLNG boss, Mr Adeleye Falade, who led other top officials of the company on the visit, expressed appreciation to the governor for granting them audience, and appealed to the State Government to continue to support the organisation.
“We appreciate the opportunity to meet with you and deepen this important relationship.We deeply value the support the Rivers State Government continues to extend in fostering an enabling operating environment for businesses. NLNG remains deliberate in its contribution to Nigeria’s development, and Rivers State, our primary host, continues to be central to that commitment,” he said.
Falade said the company has continued to work with its host communities to strengthen their capacity to identify, prioritise, and deliver sustainable development initiatives that create lasting impact.
According to him, communities including Amadi-ama, Abua, Ekpeye, Okrika, Kalabari, and Emohua have continued to benefit from this model.
He said that beyond community infrastructure, the NLNG has sustained investments in economic empowerment through initiatives such as Vocational Innovation and Business Empowerment Scheme (VIBES) and Micro Small and Medium Enterprise (MSME) schemes.
These, he said, were designed to support small businesses, build capacity, and stimulate local enterprise across the state.
Among officials of the company who accompanied the Managing Director were General Manager, External Relations and Sustainable Development, Dr Sophia Horsfall; Manager, Government Relations, Mr Abdul Umar; Manager, Community Relations, Dr. Yemi Adeyemi; Head of Government Relations, Mr Mike Igoni; Head of Community Liaison and Engagement, Chief Ifeanyi Umeh.
Others are Technical Assistant to Executive Leadership, Mr Hassan Saleh; Senior Media and Publicity Advisor, Mr Emma Nwatu; Government Relations Advisor, Miss Homa Nmegbu; Senior Government Relations Advisor, Mrs Kate Allison, and Audio -Visual Advisor, Mr Dawood Ahmed.
The Federal Government has reassured Nigerians and the international community of the country’s stability following a recent advisory by the United States authorising the departure of non-emergency personnel from its embassy in Abuja.
The Minister of Information and National Orientation, Mohammed Idris, stated this in a statement issued yesterday by his media aide, Rabiu Ibrahim.
According to the minister, public institutions across the country remain fully operational, with no disruption to governance, economic activities, or daily life.
This followed the decision of the United States Mission in Nigeria to suspend visa appointments at its Embassy in Abuja.
The mission’s decision was contained in a post shared on its official X handle, yesterday.
It stated, “U.S. Embassy Abuja is closed for visa appointments. Applicants should check their email for details on rescheduled appointments.”
The mission, however, clarified that visa operations at the U.S. Consulate General in Lagos remain ongoing.
The development comes amid a broader security advisory issued by the United States, which authorised the departure of non-emergency staff from its Abuja embassy and expanded its Nigeria travel blacklist to 23 states.
The State Department issued the authorised departure order on Tuesday, alongside an updated travel advisory that added Plateau, Jigawa, Kwara, Niger and Taraba to its highest warning category, “Do Not Travel.”
While the overall advisory rating for Nigeria remains at Level 3, “Reconsider Travel,” the department warned that some areas face increased risks due to crime, terrorism, unrest, kidnapping and limited healthcare availability.
According to the advisory, Americans are often targeted for kidnapping and robbery, while terrorist attacks continue to pose a threat across multiple locations, including markets, religious centres, hotels and public gatherings.
It also raised concerns about the state of emergency healthcare in the country, noting that hospitals often require immediate cash payments, ambulance services are unreliable and poorly equipped, and blood supply systems are inconsistent.
Medical facilities in Nigeria, the advisory said, generally do not meet United States or European standards, adding that evacuation may be necessary in medical emergencies.
The advisory further urged US citizens in Nigeria to enrol in the Smart Traveller Enrollment Programme, avoid large gatherings, vary their routines and maintain evacuation plans that do not depend on US government assistance.
It also recommended that individuals establish “proof of life” protocols with family members in the event of kidnapping.
The blacklist is divided into regional clusters. Borno, Kogi, Yobe and northern Adamawa remain under the terrorism, crime and kidnapping category, with the State Department warning that terrorist groups continue to plan and carry out attacks, sometimes in collaboration with local gangs.
For Bauchi, Gombe, Kaduna, Kano, Katsina, Sokoto and Zamfara, the advisory points to widespread banditry, communal clashes and kidnapping, while noting that security operations may occur without warning.
In the South-East and Niger Delta, states including Abia, Anambra, Bayelsa, Delta, Enugu, Imo and Rivers (excluding Port Harcourt) are flagged for crime, kidnapping and civil unrest, with armed gangs and violent protests posing significant risks.
The latest update added Plateau, Jigawa, Kwara, Niger and Taraba to the “Do Not Travel” list, citing the spread of insecurity into new regions, particularly in the Middle Belt where farmer-herder conflicts have intensified.
The advisory described the security situation in these newly added states as unstable and unpredictable, with counter-operations by security forces likely to occur without prior notice.
Idris, however, described the US advisory as a routine precaution based on internal protocols, stressing that it does not reflect the overall security situation in the country.
“While we acknowledge isolated security challenges in some areas, there is no general breakdown of law and order, and the vast majority of the country remains stable,” Idris said.
He noted that ongoing security operations have recorded measurable gains across several regions, attributing the progress to coordinated military efforts, intelligence-led interventions, and strengthened inter-agency collaboration.
“Our security agencies remain actively engaged in protecting lives and property, and the results of these efforts are increasingly evident,” he added.
According to the minister, recent operations have disrupted criminal networks, curtailed the activities of armed groups, and improved safety in vulnerable communities.
Idris also maintained that Nigeria remains open for business, travel, and investment, adding that ongoing economic reforms are strengthening investor confidence and enhancing the country’s global standing.
He said, “International partners and investors continue to engage actively with Nigeria, reflecting confidence in the country’s stability and long-term prospects.”
The minister urged foreign governments to ensure that their advisories reflect current realities and ongoing progress in the country.
“We encourage our international partners to continuously engage with Nigerian authorities to obtain a more comprehensive and current understanding of the situation on the ground,” he said.
The Federal Government reiterated its commitment to sustaining security improvements and ensuring the safety of citizens and visitors, assuring that Nigeria remains a safe and welcoming destination.
Rivers State Governor, Sir Siminalayi Fubara, yesterday extended interim relief measures to the people of Bille Kingdom as the government intensifies efforts to address the ongoing environmental degradation affecting the area.
This was contained in a statement by the Head of Information and Public Relations Unit, Office of the Secretary to the State Government, Juliana Masi, yesterday.
The governor, during a working visit to Bille Kingdom in Degema Local Government Area, reassured residents of his deep concern for their health and well-being.
He reiterated his administration’s commitment to finding a lasting solution to the persistent gas emissions observed in the community’s land and water sources since November 2025.
Represented by the Secretary to the State Government, Dagogo Wokoma, the governor announced immediate interventions to address urgent needs.
Some of the relief measures include the provision of potable water and essential medical services through the release of ?100 million as palliative support for the affected community.
According to the SSG, “Governor Fubara remains deeply committed to the welfare of the people of Bille Kingdom. Although unable to attend in person due to pressing state engagements, he is fully aware of the situation and determined to tackle the root cause of the environmental challenge”.
The governor assured residents that the state government would not relent in its efforts to provide a permanent solution to the gas emissions, emphasizing that the current intervention is only a temporary measure to ease the suffering of the people.
He further urged members of the community to remain law-abiding and continue supporting his administration, noting that he has consistently demonstrated a track record of fulfilling his promises.
Earlier, the Chairman, Council of Chief for Bille Kingdom, Chief Bennet Dokubo, expressed joy over the State visit, describing Fubara as a leader who listens to the plight of the people.
He urged the governor to critically look into the gas emission which he described as dangerous to human health.
“If we take you into the river, we notice that the entire environment is bubbling and smelling.
“We most humbly urge you to critically look into this situation. This is something strange we have never experienced before. It is not good for human health,” the monarch stressed.
