Economic recession: Statistics not reality, Makarfi tells Nigerians

The Peoples Democratic Party (PDP) has urged Nigerians not to see every statistics as an indication of reality, following Tuesday report by the National Bureau of Statistics (NBS) that the nation has exited the economic recession that worsen 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 Vanguard 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.