Former Vice President and chieftain of All Progressives Congress, Atiku Abubakar has said that the real end to recession would be when Nigerians can have three square meal to eat, just as the Action Democratic Party (ADP) has described as a political statement the exit of Nigeria from recession.
According to the political party, such claim from the federal government was “too bogus without facts and data.”
Also in another reaction, the Social Democratic Party (SDP) said the claim does not call for celebration yet.
The former Vice President in a statement from his Media Office in Abuja in reaction to the Nigeria Bureau of Statistics report, however, stated that the news of Nigeria’s official emergence from recession is a most welcome development.
According to him, the news is surely a boost for Nigeria – it tells investors, local and foreign, that our economy is worth investing in.
The APC chieftain cautions that while Nigerians must rejoice, it’s also important to recognize that the economic weakness at the bottom of the pyramid remains, adding that inflation is still high.
“We must continue working hard to expand economic opportunity for all Nigerians”, Atiku said.
“When all Nigerians can eat three square meals, that’s when the real recession ends. We have work to do”, he said.
But in his reaction, the ADP National Chairman Engr. Yabagi Yusuf said such claim “is bogus because there are no facts behind the figures to support it.
“Normally if Nigeria is out of recession you will have seen it in the numbers of an industry that has resume work, numbers of unemployed Nigerians who probably would have been employed or recall to their jobs, you would have seen more economic activities because the GDP is based on the increase in the productivity of economy.
“So it has to be something that people should see and when you look at the real sector of an economy, you can go and ask them, they are still suffering all the ills of deprivations that they have been suffering. It is not that the price of raw materials has come down or so. I don’t know where they got their data from, it is a bogus claim but they can bring out the facts.
When asked on what he expected the government to do urgently in addressing current hardship confronting Nigerians, he said: “what they should do first of all is to become more organised. They are not organised as they are now and there is no government that can perform even in your house if you are not organised nothing will happen, the whole thing will be in disarray.
“So the government has to be organised first, there has to be the government because there is no government today. Yes, Nigeria is endowed with a lot of potentials in both natural resources and human capital, we are not wanting in all these things that should make Nigeria a great country but what is lacking is managerial ability,” he said.
Similarly, the SDP’s National Publicity Secretary Alfa Mohammed said his party has as a matter of fact taken notice of the appreciable growth in the country’s GDP as indicated by the report from the Bureau of Statistics. But he however said, it is not celebration time yet, as the interest rate is still high while the 16.25% inflation rate reported in the month of May is still not a good indicator.
He said, “We, however, agree that if the growth in the non-oil sectors are improved upon and capital spending is increased through effective budget implementation, then we can begin to have a sigh of relief.
“Finally, there is the need to see the achievements reflected in the welfare of the common man on the streets particularly the unpaid Civil Servants, Pensioners and the Students who are currently out of the classes.”