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Recession Will End in 2017 – Buhari

President Muhammadu Buhari has expressed optimism that the current economic recession would come to an end in 2017.

Recession will end in 2017 – Buhari
President Muhammadu Buhari

President Buhari gave the assurance on Monday in Abuja while declaring open an induction course organised by the Ministry of Foreign Affairs for Nigerian Career Ambassadors-designate.

The Ambassadors-designate were recently cleared by the Senate.

President Buhari expressed the hope that the external factors that partly contributed to push the economy into recession would ebb in 2017.

He said, “We are optimistic that the external factors that partly contributed to push our economy into recession will ebb in 2017.

“Until then, I regret that the resources available to fund our missions abroad will not be as robust as we would like.

“We are working hard to turn around our national economy by effectively reforming our macroeconomic environment through measures, some of which were outlined in my budget speech to the National Assembly last week.”

He said that the prevailing economic circumstances have led to a restructuring of Nigerian missions abroad.

He therefore urged the Ambassadors-designate to make judicious use of the resources put at the disposal of their respective missions.

He said, “We are all making great sacrifices at home, we also expect you to similarly make judicious use of the resources put at the disposal of your missions.

“As Heads of missions, you will be held accountable for the utilisation of all resources under your control.

“These are lean times, and all of us are expected to do more with less.”

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