ACF welcomes Nigeria’s exit from recession

The Arewa Consultative Forum (ACF) has described as cheery the report that the Nigerian economy is out of recession.

The forum in a statement by its national publicity secretary, Muhammad Ibrahim Biu said it noted that the figures contained in the report released by the National Bureau of Statistics (NBS) showed that the economy’s exit from recession was spurred by improved performance in the oil, agriculture, manufacturing and trade sectors of the economy with an indication that with improved local and international investments, the economy will be better.

He said, “ACF notes with delight that the economic policies and programs of the Buhari’s administration is yielding some positive results.”

The forum however urged the Federal Government not to rest on its oars until the living conditions of ordinary Nigerians are improved through sustained economic policies and prudent management.

This, the forum stated, should include consciously directed effort to merge forex markets in order to reduce round tripping and improve the value of the Naira and ensure more investment in agriculture and solid minerals exploration.

The ACF also commended the Federal Government for its political will to resuscitate the Mambilla Power Project abandoned over 45 years ago, saying with the government approval of about $6.0billion contract to a Chinese consortium, it is hoped that on completion, the Mambilla Hydropower project will add more megawatts of electricity to the economy and also boost agricultural revolution to increase food production, employment opportunities and food security.