Faithdamy:
The Minister of finance, budget and national planning, Zainab Ahmed, Nigeria's Finance Minister, said Nigeria may go into recession.


While speaking with journalists after the National Economic Council meeting on Thursday, the Minister stated that this is due to the slowing down of economic activities as shown in an assessment by the Nigeria Bureau of Statistics.


She said;

The National Bureau of Statistics has made an assessment. So, it is the NBS assessment that Nigeria will go into a recession measuring at an average of -4.4 per cent.

But with the work that the Economic Accessibility Committee is doing bringing stimulus packages, we believe that we can reduce the impact of that recession.

And if we applied all that have been proposed and we are able to implement it we may end up with a recession that is -0.4 per cent. In any case, we will go into recession but what we are trying to do is to make sure that it is shallow so that we will quickly come out of it come 2021.

This is a very difficult time because the challenges we have now are double. There is health challenge, there is an economic challenge. Even as we are addressing the current health challenge, we still have to look at how we can support the economy so that the economy does not fall into a depression.

We have to feed the people and you can only feed the people if people go out and farm. We are a very large population, we don’t want to take the risk and we don’t have enough fund to cushion the effect.

Source: https://www.freshreporters.com/2020/05/no-doubt-nigeria-is-heading-into-recession-fg.html

Mel003:
Wetin be this woman job sef .
I have not seen her importance to the finacial sector of the economy. Just to be announcing loans day by day.

Mel003:
Wetin be this woman job sef .
I have not seen her importance to the finacial sector of the economy. Just to be announcing loans day by day.

OreMI22:

Wonderful! You just told us what we didn't know.

Now tell us if you will cut down on government luxuries such as fleet of new cars every 6 months, army of domestic servants in your house, a retinue of aides and special assistants, all sorts of bonus pay, duplicated functions at the bloated Federal Ministries etc, etc etc

OR

You will just use the opportunity to borrow even more unsustainable DEBT from China for dubious programs, that you very well know Nigeria may never be able to pay back the huge debt?