FG says Nigerian economy is out of recession

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Federal Government has said that the Nigerian economy is out of recession with 0.11 percent Gross Domestic Product (GDP) recorded in the last quarter of 2020.

The Minister of State, Budget and Economic Planning, Clem Agba, announced this yesterday in Imo State at the commissioning of a 3.5-kilometer ring road, executed by the Federal Ministry of Agriculture and Rural Development.

Agba said the progress was achieved due to the implementation of the Federal Government’s economy sustainability plans.

He said under the sustainability plans, the federal government approved 34 billion naira for the construction of 377 rural roads across the federation.

He said a total of 50 billion naira was also approved for agricultural loan under the Federal Ministry of Agriculture and Rural Development intervention plans.

The minister said the 3.5-kilometer road was one of the 66 rural roads completed so far by the Federal Ministry of Agriculture and Rural Development under the Federal Government’s sustainability plans.

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