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Buhari, economists, others caution against celebrating Nigeria’s exit from recession
PUNCH NG
Posted on: September 6th 2017
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© PUNCH NG

The news that the nation exited its worst recession in 25 years was received with cautious optimism by a cross section of Nigerians on Tuesday, with many economists and analysts saying the 0.55 per cent growth in the Gross Domestic Product in the second quarter was slower than expected.

They also warned that the growth, which was largely as a result of rising oil price and improved production in the period, was fragile and that the nation could slip back into recession if the price of crude suffered a dramatic decline.

Leading the call for caution was President Muhammadu Buhari, who said the development would not make any impact until it had effect on the lives of ordinary Nigerians.

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