Federal Government Refutes AfDB Report On Nigeria’s Economy

The Federal Government has debunked reports in the media which said that African Development Bank (AfDB) in its 2013 African Economic Outlook rated Nigeria’s poverty reduction drive low. In a press statement signed by the Minister of Information, Mr. Labaran Maku and made available to LEADERSHIP yesterday, FG said that such report was not worth giving any attention to.

The statement reads in part; “We believe it is necessary to dispel the bogus claims and disingenuous innuendos contained in the report, and instead invite attention to the steady progress the country is making in creating wealth and reducing the ranks of the poor. “In the first place, the Nigerian economy is doing much better than any other of its size on the continent, and the poverty statistics which were rehashed by the media from the 1996–2010 figures on which the AfDB report is based have been overtaken by the various interventions by President Goodluck Jonathan’s administration in the last two to three years.

“The facts in the media speak of a Nigerian economy that is witnessing impressive growth and improvement in performances in our schools. “It is pertinent to point out that we are growing the Nigerian economy faster than any other country’s economy on the continent, with this year’s GDP growth put at 6.7per cent. “Nigeria remains the destination for Foreign Direct Investment inflows into Africa and is largest in this regard over and above South Africa and Egypt. This is the direct result of the fundamental reforms being implemented under President Jonathan’s Transformation Agenda. “The Nigerian Capital Market has fully recovered, recording impressive performance.”

– : http://leadership.ng/news/130813/fg-refutes-afdb-report-nigeria-s-economy#sthash.vkQkEDqO.dpuf

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