Is Nigeria out of recession yet, all things considered? Or, is she still in the vice grip of a recession Professor Chukwuma Soludo, ex-CBN Governor, insists was “self-inflicted and avoidable?”
Find out on Tuesday, when the National Bureau of Statistics (NBS) is scheduled to publish the nation’s data for the Q1 2017 GDP report at 10.00am, rather than the earlier announced May 30.
However, INVESTDATA’s Chief Research Officer, AMBROSE OMORDION argues that the answer could be yes. Given that the Nigerian Stock Market indicators remain the unbiased barometer of economic wellbeing, he says, and granted that the index turned positive over the past few trading sessions, helped by efforts of the Monetary and Fiscal authorities (that is the Central Bank of Nigeria and the Federal Government respectively), the NBS would release positive numbers after one full year of recession.
Is he right or wrong.
Tuesday is barely four days away.
Is is a coincidence the the CBN’s Monetary Policy Committee (MPC) would conclude its second two-day meeting for this year on that day?
Just wondering….