It has been announced that Nigeria is technically out of recession. But as the reactions to the numbers below show, it doesn’t mean that the prices of goods and services have reduced. Heck, it doesn’t even mean that families are not feeling the pinch economically. It simply means that there is positive growth. This is the out of recession gospel according to Dr Yemi Kale.
See below:
NBS publishes Q2 2017 GDP. Nigeria out of recession: GDP grows 0.55% in Q2 2017 compared to -0.91% (revised)in Q1 2017 & -1.49% in Q2 2016 pic.twitter.com/OLr8ra4Akc
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Agriculture pic.twitter.com/qPBkDGBIys
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: crop production under agriculture pic.twitter.com/1HSDU7iUli
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Fishing under agriculture pic.twitter.com/KGw0Pfh6QZ
— Dr Yemi Kale (@sgyemikale) September 5, 2017
The cost of Fish feed have gone up drastically and most fish farmers can't afford.
— Ameer Gee (@geepilotone) September 5, 2017
Price of fish isn't factored in real GDP computation. Effect of Prices are removed to see real impact on output
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Forestry under Agriculture pic.twitter.com/5gSrBFx0uc
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Livestock under agriculture pic.twitter.com/SNorAM3k2g
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Crude oil and Gas under Mining and Quarrying pic.twitter.com/MBWEiKYN52
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Metal Ores under Mining and Quarrying pic.twitter.com/8MN6RCXcJI
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Coal Mining under Mining and Quarrying pic.twitter.com/53VVB9JyYO
— Dr Yemi Kale (@sgyemikale) September 5, 2017
This shows real growth in a complicated sector,but we should explore clean coal as a viable source of fuel for our power sector
— Sirk (@Owiekris) September 5, 2017
Q2 2017 GDP: Quarrying and other minerals under Quarrying and Other Minerals pic.twitter.com/QqryQK3Ejl
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Mining and Quarrying pic.twitter.com/LBjxqlYZ8Y
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Manufacturing pic.twitter.com/claq9NMSz1
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Cement under manufacturing pic.twitter.com/vJSdRiGwDT
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Y the sharp decline?? This hasn't reflected in the stock market tho.
— Sirk (@Owiekris) September 5, 2017
Q2 2017 GDP: Food & Beverage under manufacturing pic.twitter.com/HU1AO5xLWw
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Textiles, footwear and apparels under manufacturing pic.twitter.com/9n4ZDaEqmD
— Dr Yemi Kale (@sgyemikale) September 5, 2017
How can we be out of recession when factually all sectors of the economy is underperforming. Let's tell d truth this is cosmetic stats.
— ibrahim kolawole (@ibrahimkola_83) September 5, 2017
The stats shows that most of the sectors are experiencing some sort of growth! TBH things are really easing up on ground!
— uzor malasowe (@uzur1) September 5, 2017
Q2 2017 GDP: Wood and wood products under manufacturing pic.twitter.com/DrbKFdyTRz
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Pulp, Paper and Paper Products under manufacturing pic.twitter.com/QJtvupnHvg
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Plastic and rubber products under manufacturing pic.twitter.com/W2z6renWHP
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Chemicals and pharmaceuticals under manufacturing pic.twitter.com/8K3qxh9dGg
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: non mettalic products under manufacturing pic.twitter.com/7vcgnvypZC
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Motor vehicles and assembly under manufacturing pic.twitter.com/KuzzPMBvQj
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Electrical and Electronics under manufacturing pic.twitter.com/XIYcVzyAaW
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Base metals iron and steel under manufacturing pic.twitter.com/NIbtwfSpjf
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Air transport pic.twitter.com/qMelHIYvZD
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Other manufacturing under manufacturing pic.twitter.com/UMUlyGVyxa
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Encouraging trends overall. Can we also see trends for telecoms.
— Mike Ndukwe (@mndukwe) September 5, 2017
Q2 2017 GDP: Oil refining under manufacturing pic.twitter.com/kyn5XxTnLY
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Electricity and gas pic.twitter.com/an4RG5E3yQ
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: water supply and sewage pic.twitter.com/xjowM5lq3t
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: water supply and sewage pic.twitter.com/xjowM5lq3t
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Accomodation and Food Services pic.twitter.com/c6ltEcHptn
— Dr Yemi Kale (@sgyemikale) September 5, 2017
"@sgyemikale: Q2 2017 GDP: Accomodation and Food Services pic.twitter.com/kkswpT10E2" I don't believe this statistics; are you sure its Nigeria
— OXYGEN (@dotunisola) September 5, 2017
Q2 2017 GDP: Transportation and Storage pic.twitter.com/RCKPKC8ixk
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Transport Services pic.twitter.com/3Qr36xEHUA
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Road transport pic.twitter.com/g54YzwR0ey
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Rail transport and pipelines pic.twitter.com/ZZN1GqnQXG
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Water transport pic.twitter.com/tta9aLJLgj
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Post and courier services pic.twitter.com/oOwIPivHuZ
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Information and communication pic.twitter.com/BWngK17uHM
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Telecommunications and information services pic.twitter.com/5w7Iuv1LoH
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Publishing pic.twitter.com/FV2eSulE8U
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Motion pictures, sound recording and music production pic.twitter.com/hx5xnWIKlQ
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Broadcasting pic.twitter.com/L6pQxiRcR8
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Arts Entertainment and Recreation pic.twitter.com/D3Z1gT0IcD
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Financial and insurance pic.twitter.com/eLkQpGyAP0
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: insurance pic.twitter.com/0NiIwhs7yr
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: financial institutions pic.twitter.com/Ip19hWQ0LW
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Real Estate pic.twitter.com/LkQjbtZaVP
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Professional Scientific and technical services pic.twitter.com/1cYRQ4ezUe
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Public Administration pic.twitter.com/eQidPYFKW4
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: other services pic.twitter.com/96TYnuR39R
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Education pic.twitter.com/BPK3mM0oPL
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Administrative and support services pic.twitter.com/ipkugndmDd
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: human health and social services pic.twitter.com/BpkAvKJvNm
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Q2 2017 GDP: Trade pic.twitter.com/YPIF84Xqa4
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Reactions
People cannot afford to pay their bills anymore, and we're out of recession? Com'on who are we kidding?
— Openmindz (@Ok_chizi) September 5, 2017
We need to feel the impact on price of items to know we're truly out of recession
— Sadiya Sani (@SadiyaSSani) September 5, 2017
That's not the definition of a recession sadly
— Dr Yemi Kale (@sgyemikale) September 5, 2017
Then what is it
— Sadiya Sani (@SadiyaSSani) September 5, 2017
1/ With due respect sir, GDP is the measure to determine falling into recession however, it is not the appropriate measure for recovery/exit
— Zeal Ak (@zeal_a) September 5, 2017
With due respect sir u are incorrect. A recession is measured by GDP contraction & out of recession is positive growth everywhere in d world
— Dr Yemi Kale (@sgyemikale) September 5, 2017
1. GDP is not an accurate measure of growth. It has price and quantity has its components. The increase could be as a result of price.
— Akinbode Okunola (@okunolaakinbode) September 5, 2017
2. Your office reported rising food prices and at its worse in 8 years. How then can we agree with this GDP figure of growth.
— Akinbode Okunola (@okunolaakinbode) September 5, 2017
3. Recession is basically about very low productivity on the part of producers coupled with low purchasing power on the part of the people.
— Akinbode Okunola (@okunolaakinbode) September 5, 2017
4. Nigeria cannot be adjudged to have moved out of recession or be coming out if inflation does not come down on all ends.
— Akinbode Okunola (@okunolaakinbode) September 5, 2017
5. If the purchasing power does not improve, how can we say Nigeria is moving out of recession?
— Akinbode Okunola (@okunolaakinbode) September 5, 2017
Nobody wan gree o.
Reformed social media monitoring spirit
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