The Central Bank of Nigeria, CBN, on Thursday said the country is on its way out of the economic recession that has lasted for close to two years now.
The apex bank explained that it is working hard to end recession before the year runs out and there were signs already pointing its (recession) end.
This was revealed by the apex bank’s acting Director, Corporate Communication, Isaac Okorafor on Thursday via a virtual sensitization programme on steps taking so far by the apex bank to end recession.
Okorafor listed the signs of economic recovery as;
- Reversal of Negative GDP growth
- Inflation deceleration
- Naira is appreciation
@TunjiAndrews Thank you.
Negative GDP growth is in reversal. Inflation is decelerating. Naira is appreciating. These point to a recovery.
— Isaac Okorafor (@IsaacOkorafor) May 25, 2017
The apex bank made this statement at an ongoing CBNTweetMeet2017, themed Exiting recession: which way Nigeria?
The virtual sensitization programme which was moderated by economist @TunjiAndrews and CBN Ag Director Corporate Communication @IsaacOkorafor was aimed at explaining steps taking by the apex bank so far to end recession. It also answered questions from the general public on diverse issues as it relates to the economy and other sundry issues.
The virtual programme is closely monitored and covered by TheNewsGuru.com.
More details shortly…