We’re Still Worried Over Unemployment, Rising Food Prices â€' Senate

In a statement signed by its spokesperson and chairman of the Senate Committee on media and public affairs, Senator Aliyu Sabi Abdullahi, the Senate emphasized that it was truly commendable that after five consecutive quarters of contraction, the Nigerian economy grew by 0.55% in the second quarter of 2017.

According to the senator; “The rising unemployment in the country is an issue that is of much concern to all of us. Additionally, the rising cost of food prices and basic services in the country still affects millions of households.

“This is why we will continue to work on our laws, specifically in the areas of access to credit to promote more opportunities for small business owners; and opening up more sectors to private sector participation, so that there will be more competition in our markets — which will lead to lower prices.”

“The Senate received Q2 NBS economic report with great excitement,” adding “We are delighted that government’s response to the economic recession has begun to yield tangible results.

“The public will recall that in the days following the announcement of the 2016 recession, the Senate initiated steps and tabled 21 recommendations that it submitted to the executive for immediate action. We also listed out economic priority Bills, many of which have now been passed, or at the final stage.

“We are also happy to note that many of the economic recommendations, specifically in the areas of retooling our agriculture and trade policies were adopted. This shows that the ‘all hands on deck’ approach was necessary from both branches of government”.

Also, Speaker of the House of Representatives, Yakubu Dogara, lending his voice over the recent issue by the NBS stating that the country is out of recession, expressed happiness over the latest report released by the NBS, indicating that Nigeria has finally exited recession.

“We must now channel our energies towards measured aimed at job creation for the millions of our people, address the widening socio-economic inequalities and creating opportunities for all Nigerians”, he added.