By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Nigeria Will Come Out of Recession Stronger, Bigger – Acting President Osinbajo
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Nigeria Will Come Out of Recession Stronger, Bigger – Acting President Osinbajo

Farouk Mohammed
By Farouk Mohammed
Published: May 25, 2017
Share
3 Min Read
SHARE

Acting President, Prof. Yemi Osinbajo, on Thursday assured investors that the country would come out of economic recession stronger and bigger than before, with its Economic Recovery and Growth Plan (ERGP) policy.

The acting president gave the assurance at the Presidential Policy Dialogue Session, organised by Lagos Chamber of Commerce and Industry (LCCI) in Lagos.

According to Osinbajo, the whole objective of ERGP is to restore growth, invest in Nigerians and build competitive economy.

“In order to achieve this objective, we have clarified five areas of actions.

- Advertisement -

“This includes to stabilise macro-economic environment and achieve agriculture and food security.

“Ensure energy sufficiency in power and petroleum products, improve transportation infrastructure and drive industrialisation, especially by leveraging on Small and Medium Entrepreneurship (SME).

“Of course, we are setting up a Presidential Delivery Unit that will be tasked with integrating the economic recovery programme and ensure that the progress is measurable and the implementation is stead fast,” he said.

Osinbajo, who was represented by Dr Okechukwu Enelamah, the Minister of Industry, Trade and Investment, said the country was witnessing a challenged economy.

- Advertisement -

Osinbajo said government was committed to improving power sector and creating friendly environment for businesses.

Earlier, Dr Nike Akande, the President of LCCI, said the chamber was delighted to observe that the short to medium term outlook for the Nigerian economy was much better than what it was this time last year.

According to Akande, this is the outcome of the series of new policy initiatives, engagements and consultations with key stakeholders and some positive developments in the external sector.

She commended the government’s responsive disposition which had led to some policy reviews.

“The foreign exchange policy has been reviewed to reduce the volatility in the foreing exchange (FOREX) market and minimise uncertainties.

“Investors’ confidence is on the upswing, liquidity in the FOREX market has increased, there is better clarity in the policy direction, FOREX inflows are beginning to pick up.

“We are also very confident that recent government initiatives on the ease of doing business would impact positively on the economy, “she said.

She commended the Federal Government for setting up the Presidential Ease of Doing Business Council (PEBEC) with Acting President as the Chairman.

Akande said the chamber applauded the recent Executive Orders targeted at enhancing the investment climate and improving Ease of Doing Business in Nigeria.

Akande, however, drew the attention of the acting president to the power sector reform, which after four years, had not met the expectations of the business community and the citizens.
She urged the government to intervene and restore sanity in the sector.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:NigeriaosinbajoRecession
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article ‘We Are Greater Together’ – Acting President Osinbajo On Biafra
Next Article PHOTOS: Mercy Aigbe in UK For Medical Check Up

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 3 weeks ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Taiwo Oyedele
FG Sets Ambitious Target to Raise Tax-to-GDP Ratio to 18% Within Three Years
Economy
Suspected IPOB/ESN Landmine Explosion Claims Six Lives in Imo Market
News
Political Rift Between Wike and Fubara Resolved After Presidential Mediation
News
NNPC
Senate Issues Ultimatum as NNPCL Fails to Appear Over N210 Trillion Audit Discrepancies
Energy & Oil
Federal Revenue Agencies to Undergo Restructuring as President Tinubu Enacts Major Tax Reform Legislation
News Top stories
- Advertisement -
Ad imageAd image

You May Also Like

NewsTop stories

BREAKING: President Tinubu Endorses Four Major Tax Reform Bills

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 26, 2025
Lagos State Government
News

Lagos State Government Refutes Peter Obi’s Allegation of Property Demolition, Orders Probe

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 26, 2025
News

Oyo State Governor Seyi Makinde Renames Polytechnic Ibadan in Honour of Late Dr. Omololu Olunloyo

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 26, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?