Nigeria Seems-In For Endless Recession As Finance Minister Don't Even Know When Recession May Be Over!
This is what Nigerian Finance minister said in an open admission of her ignorance over and when Nigeria may get out this nasty recession she and her colleagues headed by President Buhari plunged Nigeria into;
“I don’t want to predict when we will get out of recession. Let me tell you that we will get into growth and that’s how you get out of recession, because of the stimulus that we are providing. “And it may take longer than we would like, but we will definitely get out of it. We are already seeing some positive signs in agriculture and solid minerals; and with what we are trying to do with other sectors, I am very sure we will get out of it soon.”
You would recall the Governor of Central Bank of Nigeria, Mr. Godwin Emefiele, had last week stated that the country would start getting out of recession by the fourth quarter of the year. In his words; “We are already in the valley, the only direction is to go up the hill and the government is doing everything possible to ensure that we move up the hill. I am optimistic that based on the actions being taken by the monetary and fiscal authorities, the fourth quarter results will show evidence that we have started to move out of recession.''