President Muhammadu Buhari on Thursday while presenting the 2021 budget estimates for federal lawmakers consideration, raised the hope of Nigerians by saying that Nigeria’s economy which has been projected to go into recession this quarter will return to recovery next year.
Buhari while speaking said: “The Nigerian economy is currently facing serious challenges, with the macroeconomic environment being significantly disrupted by the Coronavirus Pandemic. Real Gross Domestic Product (‘GDP’) growth declined by 6.1 per cent in the second quarter of 2020, I am glad to note that through our collective efforts, our economy performed relatively better than that of many other developed and emerging economies.” We are working assiduously to ensure a rapid recovery in 2021. We remain committed to implementing programmes to lift 100 million Nigerians out of poverty over the next 10 years.” He tagged the N13.08 trillion estimates as 'Budget of Economic Recovery and Resilience'.
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