- May 25, 2021
- Posted by: adminer
- Category: Economics
The Manufacturers Association of Nigeria (MAN) reports that the moderate growth in the nation’s Gross Domestic Product (GDP) output calls for more deliberate actions by government to drive the growth further in the remaining quarters of 2021.
MAN’s Director-General, Mr Segun Ajayi-Kadir, said when he reacted to the National Bureau of Statistics’ (NBS) first quarter of 2021 GDP report, in Lagos.
According to the report, the nation’s GDP rose from 0.11 per cent in the fourth quarter of 2020 to 0.51 per cent in first quarter of 2021, translating to a 0.40 per cent increase.
Ajayi-Kadir noted that the increase indicated the Nigerian economy was beginning to recover from the shocks of the COVID-19 pandemic, albeit with the other operating challenges in the economy.
The reported result may possibly mark the beginning of a tortuous journey back to the path of recovery and meaningful growth.
He, however, said the 0.40 per cent growth rate differential was moderate and caution must be applied, as this performance when examined in the mirror of 2019 results showed below par growth rate……..TO CONTINUE READING CLICK ON https://thefreezonechannel.com/manufacturers-urge-nigeria-to-boost-gdp-outcomes-for-the-2021/