Presidency applauds self, says Nigeria’s negative economic growth not so bad- The presidency has reacted to the National Bureau of Statistics (NBS) 2020 second-quarter report - In a statement released by presidential spokesperson Femi Adesina, he said Nigeria's negative economic growth was not as bad as expected - According to Adesina, the country's Q2 figures were far better than many other countries PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed! The Nigerian presidency has said that the nation's negative economic growth wasn't as bad as expected following the release of the Nigeria Bureau of Statistics (NBS) second-quarter report. This was disclosed in a statement on Wednesday, August 26, by Femi Adesina, the special adviser to the president on media and publicity. The presidency applauding itself in reaction to the report explained that though Nigeria’s economy contracted by -6.10 per cent in the second quarter of 2020, it was, however, better than the projected forecast of -7.24% as estimated by the NBS. Read also Kogi guber: Huge number of APC aspirants is due to my efforts, says Gov Bello He added that the figure was also relatively far better than what many other countries recorded during the same quarter (April to June). The president's spokesman went on to note that in spite of the observed contraction in economic activity during the second quarter, it outperformed projections by most domestic and international analysts. Recall that the NBS released the Consumer Price Index (CPI)/Inflation report for the month of July 2020, with the country's headline inflation rising to 12.82% from 12.56% in June. According to the report, food inflation also rose to 15.48 percent in July from 15.18 percent in the previous month. The report indicated that core inflation rose to 10.10 percent from 10.13 percent in June. PAY ATTENTION: Get the Latest Nigerian News Anywhere 24/7. Spend less on the Internet! Earlier, Legit.ng reported that Bashir Ahmad, an aide to the Nigerian president on new media said the West African giant outperformed most developed market economies even though Nigeria's Gross Domestic Production (GDP) dropped by 6.10% in the second quarter of 2020. Read also Do not compare yourself with others - Immigration boss gives 10 rules to a successful career The presidential aide made the state on Monday, August 24, shortly after the NBS released Nigeria’s economic report for the second quarter. Ahmad cited a global chief economist; Charlie Robertson who pointed out that the Nigerian economy outperformed most developed market economies in the second quarter of 2020. Laolu Akande Speaks on How Presidency is Tackling Economy | Legit TV Source: Legit.ng - The presidency has reacted to the National Bureau of Statistics (NBS) 2020 second-quarter report - In a statement released by presidential spokesperson Femi Adesina, he said Nigeria's negative economic growth was not as bad as expected - According to Adesina, the country's Q2 figures were far better than many other countries PAY ATTENTION: Click “See First” under the “Following” tab to see Legit.ng News on your Facebook News Feed! PAY ATTENTION: Legit.ng