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Analysts’ upbeat on way-out of recession as NBS releases Q2 GDP Tuesday

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A clear view of the real state of the Nigerian economy will be presented by the National Bureau of Statistics (NBS) on Tuesday.

The data will dwell on the Gross Domestic Product (GDP) growth rate for the second quarter and there are indications that figures to be released may show that the economy is already on its way out of recession.

NBS had shifted the release of the statistics in a statement based on the public holidays declared by the Federal Government to mark the Sallah celebration.

The terse statement said “Please note that due to the public holidays on Friday 1st of September and Monday 4th of September, the Q2 2017 GDP report will be released on Tuesday September 5, 2017 not Monday 4, 2017”.

Business Hilights recalls that former Governor of the Central Bank of Nigeria (CBN), Prof Chukwuma Soludo and erudite development economist and professor of political economy, Pat Utomi had in a workshop last month made it clear that even though Nigeria may be on a gradual exit for m recession, the scare will linger with the economy for long due to poor government investment on infrastructure and weak management of the foreign exchange market and allied liquidity crisis.