₦airaland Forum

Before you call me a prophet of doom, a wailer, ipob or whatever catches your fancy, please pause for a while and think! What is economic depression? Basically, I was made to understand that depression is the result or end product of a badly managed recession. Also, a prolonged and worsening recession ultimately leads to depression, which on its own, could be termed as a worse form of recession. The indices, parameters, outlook etc shows that the Nigerian economy is going from bad to worse. The president, minister of finance & CBN appears to be at a loss on what to do. Oil price is still down, production remains volatile, no action plan on diversification and there is no known stimulus plan. Unemployment is spiking, infrastructure is still deplorable, while more companies are closing down in drooves. We have remained a consuming nation with low output & means of earning forex. If things remains this way, without any drastic action by the FG, then the worst is yet to come.

The worst will only come if we fold our hands and keep quiet.

dingbang:
The worst will only come if we fold our hands and keep quiet.

But is that not the status quo already

I don't get you ooo..we are already waist deep in the depression