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Nigeria’s exit from recession doesn’t reflect in reality - Makarfi, NLC

Nigeria’s exit from recession doesn’t reflect in reality - Makarfi, NLC
Senator Ahmed Makarfi, the chairman of the Peoples Democratic Party (PDP) and caretaker committee, has condemned the celebration of the country’s exit from recession.
Punch reports that Makarfi, on Tuesday, August 5, noted that the just released statistics did not reflect the ''reality as it affects ordinary Nigerians''.
He said:''For any economic recovery to be meaningful, it must positively impact on the lives of the people at the lower level''.
. gathered that Peter Ozo-Eson, the general secretary of Nigeria Labour Congress (NLC) also said there has been any visible improvement in the standard of living said despite the exit of the country from recession.
Damilola Ehinmitan, a banker, said that the naira to dollar exchange remained high at 305 in the interbank market and between 360 and 365 at the parallel market saying that did not reflect economic growth.
On his part, Ola Azeez, the managing director of Remolaz Management Consult, said it was good that the economic statistics were giving Nigerians a ray of hope but their livelihood had not changed.
According to him,''An average Nigerian cannot afford three square meals in a day. The companies in the manufacturing sector are still struggling to operate. The size of some packaged food items is still reflective of the poor state of the economy.
''Economic indices such as purchasing power, disposable income and prices of goods and services have not really confirmed that we are out of recession.
''What we are hearing from the government is encouraging but we want it to be translated to the masses''.
Meanwhile, had reported that the Nigerian national bureau of statisticsconfirmed that the country is finally out of recession with a positive growth in its GDP.


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