The Minister of Finance, Mrs. Kemi Adeosun, has
said that she cannot predict when the nation will
get out of the current economic recession.
She, however, said that some of the efforts of the
government to reflate the economy had started
yielding results.

The minister, who spoke in an interview in Abuja,
stated, “I don’t want to predict when we will get out
of recession. Let me tell you that we will get into
growth and that’s how you get out of recession,
because of the stimulus that we are providing.
“And it may take longer than we would like, but we
will definitely get out of it. We are already seeing
some positive signs in agriculture and solid
minerals; and with what we are trying to do with
other sectors, I am very sure we will get out of it
soon.”

The Governor of Central Bank of Nigeria, Mr.
Godwin Emefiele, had last week stated that the
country would start getting out of recession by the
fourth quarter of the year.
He had said, “We are already in the valley, the only
direction is to go up the hill and the government is
doing everything possible to ensure that we move
up the hill. I am optimistic that based on the
actions being taken by the monetary and fiscal
authorities, the fourth quarter results will show
evidence that we have started to move out of
recession.

“The worst is over. The Nigerian economy is on the
path of recovery and growth. So, please if you are
a bystander or sideliner, you are losing; join the
train now before it leaves the station.”
To facilitate the recovery of the economy from
recession, Adeosun said about N770bn had been
channelled into the economy for various capital
projects this year, adding that the monitoring team
in the Ministry of Budget and Planning was putting
contractors on their toes to ensure that they
delivered the projects.