BREAKING- Nigeria To Expect Another Cycle Of Recession - Politics - Nairaland
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| BREAKING- Nigeria To Expect Another Cycle Of Recession by veeshine: 2:13am On Apr 30, 2019 |
Nigerians warned to expect another cycle of recession - Governor yari warns The national Bureau of statistics(NBS) said Nigeria has exited it's worst economic recession in more than two decades, Notching up growth of 0.55 percent in the second quarter of 2017. This is coming as a surprise to everyone : Zamfara state governor, Abdulaziz Yari, has said that another cycle of recession is about to hit Nigeria. Yari who is also the Chairman of the Nigerian Governors Forum NGF, said the recession is likely to set in by mid-2020. The governor stated this when he spoke at the opening of the three-day retreat for returning governors and governors-elect in Abuja today Monday, April 29th. The governor also pointed out that borrowing is not a reliable alternative to solving the country’s economic problems. He therefore urged the governors to work in unity to boost the economy. Speaking on the backdrop of the country’s dependence on crude oil which price has been fluctuating in recent times, Yari said ”This scenario is a wake-up call for all of you to come amply prepared to face these kinds of challenges especially since we are expecting the possibility of another cycle of recession by mid-2020 and which may last up to the third quarter of 2012. Your good spirit of stewardship will make you contain the situation should there be one. As members of the National Economic Council (NEC) you must work hand in hand to boost the economy in tandem with the global best practices”. Noting that : Nigeria depends on oil sector for 70 per cent of state revenues and 90 per cent of export earnings, has been battered by lower oil prices since mid-2014, which have slashed government revenues, weakened the currency and caused dollar shortages, frustrating business and households. source: http://vicktrendy..com |
| Re: BREAKING- Nigeria To Expect Another Cycle Of Recession by popsy2(m): 2:15am On Apr 30, 2019 |
The current government is breaking its own record. Next level recession and we blame GEJ and PDP for it. |
| Re: BREAKING- Nigeria To Expect Another Cycle Of Recession by DigitalGenius: 2:47am On Apr 30, 2019 |
Even this too shall pass away, we would survive even the hardest of times. |
| Re: BREAKING- Nigeria To Expect Another Cycle Of Recession by princemillla(m): 3:06am On Apr 30, 2019 |
Lol.... Let it happen first now..... Abi there is no difference between the condition we are now and in recession. Recession. And Nigeria be like 5 n 6 |
| Re: BREAKING- Nigeria To Expect Another Cycle Of Recession by duncun: 5:03am On Apr 30, 2019 |
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| Re: BREAKING- Nigeria To Expect Another Cycle Of Recession by kolafolabi(m): 5:07am On Apr 30, 2019 |
Stylishly saying most Governors can't pay the new minimum wage. 1 Like |
| Re: BREAKING- Nigeria To Expect Another Cycle Of Recession by Juell(m): 6:42am On Apr 30, 2019 |
Were we out of recession? |
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