Nigeria don comot recession but ...

Oshodi BBC Pidgin Image copyright Getty Images
Image example If Nigeria stay out of recession, more people, like dis shop owner for Oshodi market, Lagos, fit get chance to make more money

Nigeria economy don grow small, comot from recession; di country statistics office na im talk dis one.

Di National Bureau of Statistics (NBS) measure Gross Domestic Product (GDP) and other things, to report say di economy of di West African country don dey improve.

Every financial year dey divided into four quarters, and each quarter na three-month period. Na after five quarters na im dem report real GDP growth of 3.23%.

Compared to di whole of last year, Nigeria GDP don grow by 0.55%.

Dis GDP mean na di total value of everything wey di people and companies for inside any country dey produce.

Once di GDP for any country dey rise for di previous quarter, na im be say di economy dey grow. If GDP dey negative, wey be say e no rise, then economy dey shrink.

If di GDP show say di economy dey shrink for two quarters, na im be say di country dey recession.

Bismarck Rewane wey be financial analyst and di head of Financial Derivatives Company Limited, say Nigeria need to learn from South Africa, wey just come out of recession too.

"We need to begin dey bring down di interest rate; na wetin South Africa do, wey help their economy. Recession dey when people no fit buy anything, and businesses no fit sell anything when interest rate high well-well. When person no get purchasing power to buy anything, then dat na why we dey see lecturers dey strike, and other things," na wetin im tell local media this morning.

Mr Rewane say di breakdown of all di numbers from di NBS show some good things; di Power sector and agriculture contribute well-well to di economy.

But e still feel say work dey for Nigeria to do.

"Agriculture wey don rise up small fit dey affected later on by Boko Haram activity; as na dat area we food dey come from. Then power (electricity) must dey, because apart from Abuja, Lagos and Port-Harcourt wey dem say people get money to spend - di other parts of Nigeria dey very poor."

Mr Rewane say Nigeria position as di country wey get di most people fit also affect GDP for front.

"Nigerians dey born 14,000 pickins per day. As e be, either you stop to born plenty-plenty pickin, or we start to produce more food."

Wetin e mean to comot Recession?

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Nigeria comot recession: Make I explain am

Stanley Achonu wey be Operations Lead for BudgIT, wey bi non-governmental organisation, explain everything to BBC Pidgin.

Im say: "Recession na di period wey people wey dey do buying and selling no dey buy and sell as dem dey do before. Those wey dey produce no dey produce like before.

"Since, our power to buy and sell reduce well-well since dat 2016. Today, di NBS don measure activity wey happen from April and June 2017; na so dem talk say Nigeria don improve sotay we don comot recession."

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