2020 RECESSION IS GOING TO BE WORSE THAN 2016 — PETER OBI

 

The former Vice President candidate of the People Democratic Party (PDP) Peter Obi said that this year recession is going to be worse than 2016 since the money they borrowed then were not properly invested.

He made this statement when he appeared on Channel Television's Sunday Politics that every country is discussing on how to pull their people out of of poverty during this recession. Therefore, Nigeria should do so and not concentrating on the monetary and fiscal policies.

He has this to say:

“Every other country is discussing the recession and how to pull their people out of poverty. So what we should do now is to concentrate on the monetary and fiscal policies to start pulling people out of poverty.”

“If you see what happened with recent protests, you could see that we are heading into a problem. And I want our energy to be concentrated in that problem. The politicians, the class where I belong, should do more seriously, across party lines, to be able to arrest the situation before it gets out of hand.”

“For me, it is in discussing how do we put food on people’s table. Elections will come and we can see how to select the best. But let’s deal with the recession we have just entered before 2023.”

“The cost of governance is not acceptable. There is too much waste.”

“This recession is going to be worst than in 2016 because the monies we borrowed then were not properly invested.”

“What we need now is to go into a vigorous regime of formulating implementable and measurable monetary and fiscal policies to drive ourselves out of the present situation.”

“need to take very difficult decisions” if they are to turn the tide and put the economy back on the track of positive growth.”