"Nigeria's Recession Exit Will Stabilise Oil" Dr Afe Mayowa

Dr Afe Mayowa, President, Oil and Gas Trainers Association of Nigeria (OGTAN), said Nigeria‘s exit from recession would bring stability in the oil and gas sector, adding that “it’s an indication of good things coming to the industry’’.

They also commended the Federal Government’s effort at exiting the country from the recession.

They made the commendation in separate interviews with the News Agency of Nigeria (NAN) on Wednesday in Lagos following the National Bureau of Statistics (NBS) Gross Domestic Product Report for the second quarter 2017.

The National Bureau of Statistics (NBS) had on Tuesday said Nigeria exited its worst economic recession in more than two decades, notching up growth of 0.55 per cent in the second quarter of 2017.

Mayowa said that the sector would gradually regain its lost glory, adding that it controlled over 90 per cent stake in the economy.

According to him, the Federal Government has been working hard in
ensuring the sector gets over its challenges.

“There is peace and tranquility in the oil communities.”

Mr Dada Thomas, the National President, Nigeria Gas Association (NGA), said it was a good news that Nigeria’s economic growth stood at 0.55 per cent in the second quarter of 2017.

Thomas said that government could achieve better and faster growth rate by encouraging gas to power, while urging government to ensure effective policy formulation that would attract investment in the oil and gas sector.