Nigeria’s Minister of Budget and National Planning, Senator Udoma Udo Udoma has said that Nigerians will start feeling the impact of the exit from recession in 2020.

The minister stated this on Monday at a strategic retreat organized by the Nigerian Institute of Social and Economic Research (NISER), which was held at the Training and Conference Centre Ibadan.

Udoma stated that the figures released by the National Bureau of Statistics (NBS) which confirmed the country’s exit from recession were only a challenge to Nigerians to work harder to achieve the 7% growth rate required for total economic breakthrough by the year 2020.

“Whilst this news is very encouraging, indeed, we appreciate that there is still a lot more work required for us to realize the full promise of the ERGP, which is to have a rapidly growing economy with diversified sources of growth, increased opportunities for all our people and a socially inclusive economy that reduces poverty and creates jobs for the millions of young people entering the labour market annually,” Udoma said.

While expressing the commitment of the Federal Government towards restorigrowth to 7% by 2020, the minister said the priority focus would continue to be on achieving food security, stabilizing the macro-economic environment, ensuring enerefficiency, improving transportation and driving industrialization focused on Small and Medium Scale Enterprises.