I Don't Believe Nigeria Is Out Of Recession Yet, Says Wike - Politics - Nairaland
Nairaland Forum › Nairaland General › Politics › I Don't Believe Nigeria Is Out Of Recession Yet, Says Wike (570 Views)
| I Don't Believe Nigeria Is Out Of Recession Yet, Says Wike by nairavsdollars(op): 7:56am On Sep 11, 2017 |
Governor Nyesom Wike of Rivers State at the weekend said he is yet to believe that Nigeria is out of recession because there are no economic indices to support the claim. The governor, who spoke in an exclusive interview with INDEPENDENT at the weekend, said the talk about Nigeria being out of recession is mere political gimmicks aimed at hoodwinking the people. The National Bureau of Statistics (NBS) had announced on September 5 that the economy which went into recession early 2016 has come out of it. According to the NBS, in the second quarter of 2017, the nation’s Gross Domestic Product (GDP) grew by 0.55% (year-on-year) in real terms, indicating the emergence of the economy from recession after five consecutive quarters of contraction since Q1 2016. But Wike, who said the talk of Nigeria out of recession is another ploy by the ruling All Progressives Congress (APC) to keep Nigerians busy, said there are no signs to show that the country has indeed moved out of recession. “When you say you are out of recession, it has an implication. The implication is that the economy has bounced back. When the economy has bounced back, it means there is food on the table for people to eat. “For the government, it means there is money for states to embark on infrastructure and development of their various areas. But you can see that most politicians try to deceive the people who have given them the mandate and their votes to represent them. “I don’t believe that Nigeria is out of recession because there must be signs to show that we are out of recession. All these things they are saying about Nigeria out of recession are gimmicks. Each time, the ruling party has a problem, they find one thing to talk about in order to keep on moving so that Nigerians can continue to believe in them. That to me is not correct. You can no longer continue to deceive Nigerians. http://independent.ng/dont-believe-nigeria-recession-says-wike/
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| Re: I Don't Believe Nigeria Is Out Of Recession Yet, Says Wike by Nobody: 7:57am On Sep 11, 2017 |
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| Re: I Don't Believe Nigeria Is Out Of Recession Yet, Says Wike by sarrki(m): 7:58am On Sep 11, 2017 |
Rivers state may not be out of recession But sure Nigeria is out Rivers own is due to your maladministration |
| Re: I Don't Believe Nigeria Is Out Of Recession Yet, Says Wike by sarrki(m): 8:01am On Sep 11, 2017 |
To talk, without sounding like an illiterate, about RECESSION, You must know the meaning. It is very bad to be deliberately ignorant. RECESSION has to do with the behaviour of GDP consistently over a period of time. When GDP keeps falling consistently and persistently over a period of time, recession enters, once this is reversed, recession is gone!!! What is GDP? It is the total value of ALL goods and services produced in a country in a given time usually one year or quarterly, monthly depending on what you're measuring. In the last three quarters the domestic production of goods and services have increased. It has NOTHING to do with consumption but production!!! The increase in production of goods and services is due to Peace in the ND which increases oil production.....Are you doubting that we have moved from 1mbpd to over 2mpd  Diversification is yielding results especially in Agriculture, are you doubting this? Construction workers have resumed their duties during the period in question, check the capital allocation and releases made by government.....You doubt? FDI has increased, are you doubting External Reserves increase is making us attractive to foreign investors...... Yes these are facts.Even Thomas, the world's greatest doubter relaxed when he saw his Master.....only a fool doubt what he sees!!!! RECESSION is over. You don't have to lose your brain because of hate, You may need it after 2023! |
| Re: I Don't Believe Nigeria Is Out Of Recession Yet, Says Wike by TyushTal(m): 8:03am On Sep 11, 2017 |
sarrki: sarrki: sarrki:How much is your salary for all this?  I too, don't still believe we're out of recession yet  1 Like |
| Re: I Don't Believe Nigeria Is Out Of Recession Yet, Says Wike by sarrki(m): 8:05am On Sep 11, 2017 |
TyushTal:Even Thomas, the world's greatest doubter relaxed when he saw his Master.....only a fool doubt what he sees!!!! RECESSION is over. You don't have to lose your brain because of hate, You may need it after 2023! |
| Re: I Don't Believe Nigeria Is Out Of Recession Yet, Says Wike by TyushTal(m): 8:07am On Sep 11, 2017 |
sarrki:Try harder, you're still not convincing me I knew the definition of recession when, prices of commodities, food inclusively inflated, when N5 became useless Who are you to come tell me now that, recession talks about GDP? 1 Like 1 Share |
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