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Friday, May 24, 2019

NIGERIA MAY SLIDE TO ANOTHER RECESSION — CBN GOVERNOR



The Central Bank of Nigeria (CBN) governor, Godwin Emefiele at University of Benin, during delivering lecture captioned "Beyond the Global Financial Crisis: Monetary Policy Under Global Uncertainty", He said the way things are going in this country, if care is not taken, Nigeria will go into another recession. 

Based on his speech, he expressed fear which showed that there will be a global uncertainty that things may unfortunately lead to crisis. 

He said, “From some of my concluding remarks, you may have observed whether you like it or not, there is global uncertainty that will unfortunately most certainly, lead to another crisis."

“The question could be, how are we, as Nigerians, particularly our leaders, I am talking of Monetary and Fiscal Policy Authority, how are we preparing our country for the next set of crisis?”

“We have luckily exited recession. We have seen inflation pending downward to about 18.72 percent in 2017 to about 11. 37 percent today. We see reserve moving up, exchange rate stabilizing but unfortunately, we still have issue and those issues bother on unemployment rate.”  he stated. 

Nigeria have gold, diamond, iron ore, rubber and the almighty crude oil and you are talking about recession?

Is Nigeria not supposed to be the richest country in the world?

The solution is for government to establish industries in all the states .The private sector alone can not give jobs to the millions of the unemployed. The Federal  Government and  states should invest in job creating ventures.  And stop wasting billions on empty budget yearly.

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