Kemi Adeosun, the minister of finance, says that Nigeria is “technically in a recession”.
While fielding questions from senators on Thursday, Adeosun explained that the previous administration did not adequately tackle the economic challenges faced by the country.
“Are we in recession? Technically, yes we are, “she said. “The previous administration was borrowing to pay salaries. We were taking panadol when we had cancer”.
While disagreeing with senators that the government does not have an economic plan, she said the government is not immune to the sufferings of Nigerians, as it is doing all to alleviate their sufferings.
More to follow…
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Update: Nigeria technically in a recession, says Adeosun
Update: Nigeria technically in a recession, says Adeosun
Victor
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Thursday, July 21, 2016
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No magic answer to Nigeria economic problems. The problems did not start today.
ReplyDeleteEmbrace agriculture as a rescue solution.
The problem we are facing now is self imposed, the hardship we are facing now has nothing to do with the previous administration afterall crude oil price started declining in 2014 and as at then things were still affordable. If not for the ill mannered way PMB talks, there wouldn't have been the renewed militancy the country is facing now cos that is where the problem lies, declining crude oil production.
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