Nigerian Economy is Growing Out Of Recession – World Economics

Nigerian Economy is Growing Out Of Recession - World Economics

The Nigeria Market Growth Index has grown from 56.7 to 58.5 in April, suggesting that the country’s economy is gradually growing out of recession.

This was contained in the report of the United Kingdom-based World Economics’ April Sales Manager’ Index.

The report noted that the SMI rose from 56.7 per cent to 58. 5 per cent indicated a rapid growth, its highest value since 2015.

It also explained that though there is still high levels of inflation, the rate of inflation growth had been on the decline in the last nine months.

The organisation, which is dedicated to producing analysis, insight and data relating to questions of importance in understanding the world economy.

“Nigerian economy is continuing to grow out of the recession which saw 10 months of consecutive contraction in 2016,” it said.

As a matter of fact, Naira has maintained its firm against dollar in the last few days, standing at N306 per dollar at interbank.

Yesterday the Minister of Finance said that the government would not relent in chasing those who had looted the public funds and ensure the recovery of such monies.

The Central Bank had stayed with its policy of releasing dollars into the interbank to ease business transaction and of course to enable students pay their fees.