Organised Private Sector, Analysts Hail GDP Expansion, Caution Economy Not Out of Woods Yet

• ACCI, CPPE, NECA seek broader job-intensive growth

James Emejo in Abuja and Nume Ekeghe, Dike Onwuamaeze in Lagos

The Organised Private Sector (OPS) and economic analysts yesterday welcomed the country’s stronger Gross Domestic Product (GDP) growth in the second quarter of the year, saying the 4.43 per cent expansion offers evidence that economic reforms are beginning to gain traction.

They, however, cautioned that the economy remained some distance away from a broad-based recovery.

Abuja Chamber of Commerce and Industry (ACCI), while describing the performance as an encouraging signal, said the latest growth figure should not be mistaken for an indication that the economy had completely overcome its difficulties.