AfDB drops bombshell, says Nigeria’s industrial production has fallen by 41% as Buhari crashes Nigerian economy

24/May/2018 // Viewers:120 // Likes: // Shares: // Comments:



PARIS, MAY 24, 2018: (DGW) Nigeria’s industrial value dropped by 41 per cent between 2012 and this year, the African Development Bank has said.

The President, AfDB, Dr. Akinwumi Adesina, said this in a keynote address delivered at the opening ceremony of the 2018 Annual Meeting of the lender at the Busan Exhibition and Convention Centre, South Korea, on Wednesday.

Adesina said the African continent lost a total of $72bn between 2012 and so far this year with Nigeria, South Africa, Egypt and Algeria accounting for most of the drop in value added through industrial production.

The AfDB boss said the loss of industrial production value was responsible for massive unemployment on the continent, adding that the bank planned to invest over $35bn in the next 10 years in a bid to reverse the trend of de-industrialisation of the region.

He said, “Between 2012 and 2018, Africa’s industrial value added declined from $702bn to $630bn, a loss of $72bn. Among countries with the largest industrial output, industrial value added dropped sharply by 41 per cent in Nigeria,

Buhari, you see your life?


Keep asking where is the power

Meanwhile elsewhere in the APC parallel universe....

"Nigeria's economy is on the right track"

https://www.vanguardngr.com/2018/05/nigerias-economy-right-track-presidency/

Buhari is working (destroying the economy).

I hope you guys can read sha. The report says between 2012 and 2018

Both PDP and APC are clueless.

Definitely 80 percent of this crash must-have happened under the very inept Buhari .... I know know how manyvsmall factories have closed down in Lagos alone around me since Buhari came to power