Nigeria Determined to Overcome Recession this Year- Udoma

Nigeria is determined to emerge from its first recession in a quarter of a century this year and needs to put more effort in revamping its infrastructure, its budget minister said on Wednesday.

Udoma Udo Udoma said the economy was beginning to recover after it experienced a smaller contraction in the fourth quarter, although it was still in a recession.

“The 2017 budget is structured to do just that … we are anxious to get the budget passed so that we can begin the implementation and begin to take all the steps we need to get the economy out of recession,” he told reporters after a cabinet meeting.