Why Nigerians won’t feel effect of exit from recession immediately – NBS boss, Yemi Kale

SHARE:

Image result for Yemi Kale


The Statistician-General of the Federation and Chief Executive Officer, National Bureau of Statistics, NBS, Yemi Kale has warned that the effect of Nigeria coming out of recession will not be felt immediately by citizens.

Kale, who issued the warning yesterday while speaking at a press conference in Abuja, stressed that recession is not about the price of your goods, or whether unemployment is going up or down but it’s purely dependent on the Gross Domestic Product, GDP.

He also debunked reports in certain quarters that the announcement of the economy exiting recession was politically motivated.

According to Kale, “There is a different stage Nigeria must go through before the masses will feel the effects of going out of recession. Out of recession is the first step which is very important then the country can talk of economic recovery which is going back to where Nigeria was before the recession.

“Recession is just a technical word; we are comparing 2017 and 2016. Recession is not about the price of your goods, not whether unemployment is going up or down, not whether you have quality education; it’s purely your gross domestic product.

“Your outputs of goods and services in the economy are going down and the Gross Domestic Products (GDP) is an accumulation of 46 different economic activities in Nigeria and the overall number. Whether positive or negative will determine whether you are in recession or out of recession.

Source: DailyPostng
“Now, within those 46 activities, some sectors will do very well and will be positive, some will do badly, some will do worse and some will stay the same way they are.

“It is not political because it is the same bureau that gave other negative data. Things have improved but we are not there yet, it is only food prices that are still high.’’

COMMENTS

Name

Articles & Opinion,246,Boko Haram,199,Business,144,Crime,913,Education,34,Entertainment,3394,Fashion,5,feature,10,featured,573,General,3526,Health & Fitness,76,Metro News,1555,ne,1,News,7175,PhotoNews,437,Relationship,161,Religion,136,RIO OLYMPICS UPDATES,49,Sports,138,t,1,Technology,20,TodayInPlenary,14,Tragedy,10,Tweets,88,Videos,117,World News,1048,
ltr
item
Gist Arena: Why Nigerians won’t feel effect of exit from recession immediately – NBS boss, Yemi Kale
Why Nigerians won’t feel effect of exit from recession immediately – NBS boss, Yemi Kale
http://i0.wp.com/www.thescoopng.com/wp-content/uploads/2016/11/Yemi-Kale.jpg?resize=620%2C330
Gist Arena
http://www.gistarena.com.ng/2017/09/why-nigerians-wont-feel-effect-of-exit.html
http://www.gistarena.com.ng/
http://www.gistarena.com.ng/
http://www.gistarena.com.ng/2017/09/why-nigerians-wont-feel-effect-of-exit.html
true
6126472825527959638
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy