The recession is receding, the Federal Government said yesterday.
Proof: The about eight-fold over subscription of the government’s Eurobond (orders in excess of US$7.8 billion compared to a pre-issuance target of US$1bn).
Besides, the oversubscription, the government believes, has confirmed the confidence level of the international investment community in Nigeria’s economic reform agenda.
A report in Issue 23 of Aso Villa’s Newsletter, Government at Work, released on Monday, also gave 11 other reasons why the government believes that the economy is on its way out of recession.