by Alexander O. Onukwue
The numbers have shown that Nigeria is no longer in recession, but as many analysts are pointing out, it is by the least possible margin.
Some argue that Nigeria, as Africa’s largest economy, should not really celebrate a 0.55% rise in GDP when there are over 180 million persons who will only be best served by a constant 3% rise.
Until now, President Muhammadu Buhari’s administration has spent the best part of its tenure trying to fight the recession, tailoring its recovery and growth plan towards brining life into declining sectors of the economy. The introduction of such platforms like the Treasury Single Account (TSA), and the restriction on souvenirs and first class flights, were aimed at plugging leaks in the revenue trove of the Government and restrict wasteful expenditures.
To move the country from recovery to the state of plenty, more positive structural adjustment would need to be targeted. Building Nigeria’s institutions to be embezzlement-proof and at full productivity at all levels should be a primary goal, ensuring that the goods are reflected in the standards of the common’s man life.