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Nigerian economy: Recession, No Recession

Nigerian economy: Recession, No Recession

Mfonobong Akpan

Nigerians haven’t been having it easy with the state of economy. We ask often rhetorically where the economy is headed, well the
Minister of Finance, Mrs Kemi Adeosun, on Thursday gave some insight into this.

Mrs Adeosun speaking during the plenary session of the Senate said the nation is going through a recession.

She also said the Federal Government is aware of the sufferings the recession may have caused Nigerians but added that steps have been taken to ensure that the nation gets out of its economic challenge.

She also appealed to Nigerians not to panic over recent reports of international agencies (IMF) which puts the nation’s economy in a bad light but to believe in the policies of government towards achieving a stable economy.

However, Minister of Budget and National Planning, Senator Udo Udoma, doesn’t agree with the claim made by the Finance Minister. He insists that Nigeria’s economy is not yet in recession.

Udoma said this while briefing State House correspondents at the end of the National Economic Council meeting presided over by the Vice President, Professor Yemi Osinbajo.

Recession, No Recession…

Nigerians are really more interested in the appropriate quarters doing all that is necessary to reduce the difficulty currently being faced by the majority of citizens.

Let the economic hardship end!