{"id":7976,"date":"2016-07-22T07:34:46","date_gmt":"2016-07-22T06:34:46","guid":{"rendered":"http:\/\/nationalwire.com.ng\/?p=7976"},"modified":"2016-07-22T07:34:46","modified_gmt":"2016-07-22T06:34:46","slug":"nigerians-need-not-panic-over-imfs-recession-prediction-adeosun","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/nigerians-need-not-panic-over-imfs-recession-prediction-adeosun\/","title":{"rendered":"Nigerians need not panic over IMF\u2019s recession prediction &#8211; Adeosun"},"content":{"rendered":"<p>FRIDAY EKEOBA<\/p>\n<p>Barring any monumental change in the domestic economy, the Minister of\u00a0Finance, Mrs Kemi Adeosun,Thursday assured Nigerians that the nation\u00a0would only face a short recession if the nation\u2019s economy contracts\u00a0again in the second quarter as the removal of fuel subsidies and\u00a0policies to lower dependency on oil will pay off.<\/p>\n<p>It would be recalled that the International Monetary Fund (IMF) said\u00a0on Tuesday that Nigeria\u2019s economy may shrink by 1.8 percent this year\u00a0due to a slump in oil prices and a shortage of hard currency.<\/p>\n<p>Gross domestic product contracted by 0.36 percent in the first quarter\u00a0of the year and the Central Bank of Nigeria\u2019s governor has said that a\u00a0recession appears to be imminent.<\/p>\n<p>According to her, \u201cI think if we are in recession, what I will like to\u00a0say is that we are going to come out of it and it is going to be a\u00a0short one. I don\u2019t think we should panic,\u201d she said.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p>Giving what can be called government\u2019s first official reaction to IMF\u00a0forecast while briefing the journalists after appearing before the\u00a0Senate in Abuja where she appeared to offer explanations on the state\u00a0of the nation\u2019s economy.<\/p>\n<p>The Minister said government measures such as the lifting of fuel\u00a0subsidies and boosting of non-oil production would give the economy a\u00a0fillip. \u201cAgriculture output seems to be up,\u201d she said.<\/p>\n<p>\u201cWe were subsidising around 45 million litres of fuel per day. These\u00a0are real savings to the economy which we are now redirecting into the\u00a0essential infrastructure that will keep the economy going.\u201d She\u00a0explained.<\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>FRIDAY EKEOBA Barring any monumental change in the domestic economy, the Minister of\u00a0Finance, Mrs Kemi Adeosun,Thursday assured Nigerians that the nation\u00a0would only face a short recession if the nation\u2019s economy contracts\u00a0again in the second quarter as the removal of fuel subsidies and\u00a0policies to lower dependency on oil will pay off. It would be recalled that &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":11,"featured_media":7978,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23],"tags":[573,631],"coauthors":[2392,2393],"class_list":["post-7976","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","tag-imf","tag-kemi-adeosun"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nigerians need not panic over IMF\u2019s recession prediction - Adeosun - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/nigerians-need-not-panic-over-imfs-recession-prediction-adeosun\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigerians need not panic over IMF\u2019s recession prediction - Adeosun - National Wire\" \/>\n<meta property=\"og:description\" content=\"FRIDAY EKEOBA Barring any monumental change in the domestic economy, the Minister of\u00a0Finance, Mrs Kemi Adeosun,Thursday assured Nigerians that the nation\u00a0would only face a short recession if the nation\u2019s economy contracts\u00a0again in the second quarter as the removal of fuel subsidies and\u00a0policies to lower dependency on oil will pay off. It would be recalled that &hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nationalwire.com.ng\/sub\/nigerians-need-not-panic-over-imfs-recession-prediction-adeosun\/\" \/>\n<meta property=\"og:site_name\" content=\"National Wire\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-22T06:34:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/07\/Adeosun.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dayo Emmanuel\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/\",\"name\":\"National Wire\",\"description\":\"About Nigerians, Nigerian Business and Other Stories\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/nationalwire.com.ng\/sub\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nigerians-need-not-panic-over-imfs-recession-prediction-adeosun\/#primaryimage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/07\/Adeosun.jpg\",\"contentUrl\":\"https:\/\/nationalwire.com.ng\/sub\/wp-content\/uploads\/2016\/07\/Adeosun.jpg\",\"width\":700,\"height\":400},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nigerians-need-not-panic-over-imfs-recession-prediction-adeosun\/#webpage\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/nigerians-need-not-panic-over-imfs-recession-prediction-adeosun\/\",\"name\":\"Nigerians need not panic over IMF\u2019s recession prediction - Adeosun - National Wire\",\"isPartOf\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nigerians-need-not-panic-over-imfs-recession-prediction-adeosun\/#primaryimage\"},\"datePublished\":\"2016-07-22T06:34:46+00:00\",\"dateModified\":\"2016-07-22T06:34:46+00:00\",\"author\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\"},\"breadcrumb\":{\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nigerians-need-not-panic-over-imfs-recession-prediction-adeosun\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/nationalwire.com.ng\/sub\/nigerians-need-not-panic-over-imfs-recession-prediction-adeosun\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/nigerians-need-not-panic-over-imfs-recession-prediction-adeosun\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/nationalwire.com.ng\/sub\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Nigerians need not panic over IMF\u2019s recession prediction &#8211; Adeosun\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/nationalwire.com.ng\/sub\/#\/schema\/person\/806673c5851717dc3067b1a46a6c060f\",\"name\":\"Dayo Emmanuel\",\"url\":\"https:\/\/nationalwire.com.ng\/sub\/author\/dayo\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Nigerians need not panic over IMF\u2019s recession prediction - Adeosun - National Wire","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/nationalwire.com.ng\/sub\/nigerians-need-not-panic-over-imfs-recession-prediction-adeosun\/","og_locale":"en_US","og_type":"article","og_title":"Nigerians need not panic over IMF\u2019s recession prediction - Adeosun - National Wire","og_description":"FRIDAY EKEOBA Barring any monumental change in the domestic economy, the Minister of\u00a0Finance, Mrs Kemi Adeosun,Thursday assured Nigerians that the nation\u00a0would only face a short recession if the nation\u2019s economy contracts\u00a0again in the second quarter as the removal of fuel subsidies and\u00a0policies to lower dependency on oil will pay off. 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