Instead, the economy has been resilient, having recovered from two recessions within five years – in 2016 and 2020.
“The Nigerian economy sustained its recovery from the 2020 recession for the 7th consecutive quarter, growing by 3.54 per cent in real terms in Q2 2022, from 3.11 per cent in Q1 2022.
“Many sectors recorded positive economic growth reflecting the effective implementation of policy measures prescribed in the Economic Sustainability Plan (ESP), Annual Budgets, Finance Acts and National Development Plan (NDP),’’ he explained.
The minister also faulted Atiku’s position that ‘Nigeria under the APC-led government has consistently run on budget deficits since
it came to power in 2015’, and the ‘budget deficits are often above the three per cent threshold permissible under the Fiscal…