The All Progressives Congress (APC) has asked Nigerians to appreciate President Muhammadu Buhari for taking Nigeria out of recession within a short time.
Nigeria’s economy unexpectedly exited recession in the fourth quarter of 2020.
In a statement on Thursday, the National Bureau of Statistics (NBS) said the economy grew by 0.11 percent. The development comes after two consecutive quarters of negative growth which resulted in a recession.
Nigeria’s economy beat projections from the IMF and the World Bank, both of which predicted Africa’s biggest economy to exit recession in 2021.
But in a statement on Thursday by the National Secretary of the APC Caretaker Committee, John Akpanudoedehe, the party said Buhari has kept to its promises to Nigerians he made that Nigeria would exit recession soon.
Akpanudoedehe said the development shows that the Buhari-led government “walks the talk on its promises to Nigerians”.
He said the development was not a fluke, but a result of well-planned measures lined up by the federal government to ensure the country’s quick exit from recession.
According to him, the country’s early exit from recession is a result of the successful implementation of the federal government’s economic sustainability plan (ESP), among other things.
The APC scribe said President Buhari ensured stimulation of the country’s economy to prevent business collapse, retaining and creating jobs through support to labour-intensive sectors, such as agriculture and direct labour interventions.
He added that it also included infrastructure investments in roads, rails, bridges, as well as promoting manufacturing and local production.
According to him, this created job opportunities and pro-poor spending and other social investments targeting the poor and other vulnerable groups in the country.
Akpanudoedehe commended stakeholders, particularly the national assembly, private sector and Nigerians for supporting the economic initiatives implemented by the government to exit the recession.
He added that with continued support for Buhari’s administration, the economy can only get better.