The Federal Government on Wednesday expressed the belief that the fourth quarter will be better for the country as far as its economy is concerned.
The Minister of Budget and National Planning, Senator Udo Udoma, disclosed this while briefing State House correspondents of the outcome of a meeting of the Federal Executive Council presided over by Vice-President Yemi Osibanjo at the Presidential Villa, Abuja.
Udoma said the council reviewed the figures released by the National Bureau of Statistics on Monday.
He said the council noted that the nation’s economy is still in recession with the third quarter report worse than that of the second quarter.
He said while the recession was attributable to the oil sector, the good news was that the non-oil sector was improving in an encouraging manner.
“We are encouraged by the direction of the non oil sector. In the oil sector, we believe fourth quarter will be better. We are looking forward to a fourth quarter that is better than third quarter,” he said.
Source: Punch
