Nigeria should be out of recession by third quarter cbn governor

A great topic!

Yes, you're referring to the statement made by the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, that Nigeria is expected to exit recession by the third quarter of 2021.

In an interview with Bloomberg TV, Emefiele stated that the country's economy is expected to recover from the current recession, which was triggered by the COVID-19 pandemic and the subsequent lockdowns. He attributed the expected recovery to the government's efforts to stimulate the economy, including the implementation of monetary and fiscal policies.

Emefiele also highlighted the progress made in the agricultural sector, which has been a major driver of the economy. He noted that the sector has been growing steadily, and the government's efforts to increase food production and reduce imports have helped to boost the economy.

The CBN Governor also emphasized the importance of diversifying the economy, reducing reliance on oil exports, and promoting non-oil sectors such as manufacturing, services, and agriculture.

It's worth noting that the Nigerian economy has been facing significant challenges in recent years, including a decline in oil prices, a rise in inflation, and a decline in foreign exchange reserves. However, the government's efforts to address these challenges and stimulate the economy have been ongoing, and the expected exit from recession by the third quarter of 2021 is a positive development.

Here's a summary of the key points: