The PDP National Publicity Secretary, Mr Dayo Adeyeye, in a statement, said that the figures of growth rate released by NBS, when compared with inflation rate and population growth, showed that there was nothing to celebrate.
“The report indicated that while the inflation rate was 16.05 per cent, the annual population growth rate was approximately 2.67 per cent per year.
“With such statistics, it is impossible to escape the conclusion that the recovery of the Nigerian economy is weak, feeble and insufficient to herald the sort of celebration we want to indulge in,” he said.
Adeyeye reiterated that the nation was at risk of falling into a more protracted recession if strong and bold monetary and fiscal policies were not activated immediately, to sustain the exit from recession.
He added that there was nothing to celebrate until such economic growth improves the harsh living conditions of ordinary Nigerians. (NAN)
