The Federal Executive Council (FEC) yesterday said the growth of the country’s Gross Domestic Product (GDP) has shown that its policies are yielding the desired result.
The National Bureau of Statistics (NBS), in its latest report, released February 12 said the country’s GDP grew by 2.38 percent in real terms (year-on-year).
The latest growth rate represents an increase of 0.27 percent points when compared to the fourth quarter of 2017 which recorded a growth rate of 2.11 percent.
The NBS report was reviewed during yesterday’s FEC meeting, presided over by president Muhammadu Buhari at the presidential villa, Abuja.
Briefing State House Correspondents at the end of the meeting that lasted for about two hours, the Minister of Budget and National Planning, Udoma Udoma, said the statistics revealed that the country was on the path of growth.
“It shows that the policies of the government are working. The economy is on the path of growth after the recession. All the indices are positive. It shows the impact of the releases (funds) made by the government into the system,” he said.