Nigerian official urges caution despite data showing economy out of recession

Source: Xinhua| 2017-09-07 02:24:05|Editor: Mu Xuequan
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LAGOS, Sept. 6 (Xinhua) -- Nigeria must not relax because the gross domestic product (GDP) is still on the negative side, a top official with the National Bureau of Statistics said Wednesday.

Addressing reporters in Abuja, the country's capital city, Yemi Kale, the Statistician-General of the Federation, said that there is growth but there is a problem with the distribution across the country.

According to Kale, there is a different stage Nigeria must go through before the masses will feel the effects of going out of recession, adding figures suggesting growth do not translate into improvement to the quality of growth.

Kale said the reason Nigerians were not feeling the real impact of the positive economic growth rate on their lives was because of the structure of the economy which is still largely driven by oil.

The bureau on Tuesday announced that Nigeria was out of economic recession, stating that the nation's GDP grew by 0.55 percent year-on-year in real terms in the second quarter of this year.

The economy slipped into recession in the second quarter of 2016.