Economic recession will fade in 2017 – Buhari

President Muhammadu Buhari has expressed optimism that the current economic recession will recede in 2017.

Buhari made the remark on Monday in Abuja while declaring open an induction course organised by the Ministry of Foreign Affairs for Nigerian Career Ambassadors-designate who were recently cleared by the Senate.

He warned the ambassadors that they would be held responsible for the utilisation of resources in their missions.

In a statement issued by his Special Adviser on Media and Publicity, Femi Adesina, President Buhari said, “We are optimistic that the external factors that partly contributed to push our economy into recession will ebb in 2017. Until then, I regret that the resources available to fund our missions abroad will not be as robust as we would like.

“We are working hard to turn around our national economy by effectively reforming our macroeconomic environment through measures, some of which were outlined in my budget speech to the National Assembly last week.”

Noting that the prevailing economic circumstances have led to a restructuring of Nigerian missions abroad, he told the Ambassadors-designate that “as we are all making great sacrifices at home, we also expect you to similarly make judicious use of the resources put at the disposal of your missions.

“As Heads of missions, you will be held accountable for the utilisation of all resources under your control. These are lean times, and all of us are expected to do more with less.”

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