For most analysts, Nigerian economy’s surprising exit from recession in the fourth quarter (Q4) of 2020 came as a surprise, driven mostly by way of increase in agriculture and telecommunications sectors.
According to the National Bureau of Statistics (NBS), the nation’s Gross Domestic Product (GDP) grew with the aid of 0.11 percent (year-on-year) in actual phrases in the fourth quarter of 2020, representing the slimest high quality quarterly boom in the remaining three quarters.
For most analysts, Nigerian economy’s sudden exit from recession in the fourth quarter (Q4) of 2020 got here as a surprise, driven mostly by using increase in agriculture and telecommunications sectors.
According to the National Bureau of Statistics (NBS), the nation’s Gross Domestic Product (GDP) grew through 0.11 percentage (year-on-year) in real phrases in the fourth quarter of 2020, representing the slimest superb quarterly increase in the remaining three quarters.
But whilst this developmentcould be viewed susceptible by means of some observers, it certainly headlines a lots expected return of financial things to do restricted by using COVID-19 pandemic seeing that the first quarter of 2020. It also marked the resumption of nearby and international commercial economic activities such as tourism and travels badly affected by way of Coronavirus induced lockdowns in the previous quarters.
But regardless of where one stands on this debate, one problem that continues draw attention to the contemporary development used to be the function the Federal Government and its companies performed in pulling the economic system out of the woods.
Some financial professionals who spoke to Daily Sun on how the lean 0.11 per cent GDP growth can be enhanced, on the other hand admitted that there is a lot extra that the Federal Government can do to enhance on the numbers.
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