Nigeria’s Finance Minister Kemi Adeosun in a CNBC interview on Thursday stated that Nigeria will not get out of recession because of the Organization of Petroleum Exporting Countries, OPEC.
According to her, oil revenues account for around 10 percent of Nigeria’s overall GDP, therefore, the implementation of domestic policies would hold the key to a long term economic recovery.
“I’m not sure that I agree that OPEC is the reason that we will get out of recession. We will get out of recession because we are following the right type of policies. Our objective is not just to get out of recession, our objective is to grow and grow sustainably,” Adeosun said when asked about Nigeria’s policy implementation.
She was speaking on the sidelines of the International Monetary Fund and World Bank spring meeting in Washington.