Nigerians yesterday got a piece of bad news from the Minister of Finance, Mrs Kemi Adeosun that the economy is in recession. But there is no need to panic because it will be short, according to her.
Mrs Adeosun, broke the depressing news to Senators in plenary while briefing them on measures adopted to get the economy out of the woods. She said the Federal Government had released N247.9 billion in the last two months for capital expenditure.
She said N60 billion would be released for capital vote in the next few weeks, adding that N74 billion went to the Works Ministry.
All the releases, Mrs. Adeosun said, had been fully cash-backed.
The Minister, however, told the Senators that the recession would be a very short one because the government had measures to reverse the trend.
She said Nigerians should not dwell on the recession but rather on where the country is going through the measures being taken to save the economy.
Mrs. Adeosun said: ”Is Nigeria in recession? Technically. If you go into two quarters of negative growth, technically, we are in recession. But I don’t think we should dwell on definitions. I think we should really dwell on where we are going. I think if we are in recession, what I will like to say is we are going to come out of it and it would be a very short one because the policies that we have would ensure that we don’t go below where we need to go and I think with what we are doing, we would begin to turn the corner I believe by Quarter Three.”
“We are not the only country in recession; many countries are doing far worse than us. But for Nigeria, what Nigerians want to know is ‘how’s that going to affect me’ and I want to assure everybody that what we are doing is going to work and it’s going to turn this economy around,” the minister said.
-The Nation.
Na today she know? God please save our country
ReplyDeleteIt's in recession but stealing is still on. Nigeria is in recession and certain class of people are still been employed in top parastatal. God help us. I know some countries that do well in recession please no excuse.
ReplyDeleteI really don't.think she needs to remind us again.
ReplyDeleteHmmmmmmm. Empty promises as usual,always giving us false hope.... Its only God that can help this nation.
ReplyDeleteIt's so bad, my dad works with a multinational IOC, they closed down his Dept, paid everyone off, d downsizing is very huge.
ReplyDeleteOnly God will help this country
ReplyDelete*Larry was here*
She said we are weathering the storm well.
ReplyDeleteI hope this passes.
Thank you. Let it pass well, dassall
Deletenoted.
ReplyDeleteThis woman stfu! Did she not read jubril's tweet? There is money, ask the senate and house of rep!
ReplyDeleteShe just made it official.
ReplyDeleteNigeria has been on recession since this year.
Kemi is as incompetent as her principal.
ReplyDeleteShe always look very unkept, her hair na die. Chai!
DeletePls bv kindly explain the meaning of recession.
ReplyDeleteA situation where the economy of a state declines. It is not good for a developing country like Nigeria.
DeleteNigerian politics and vacuous statements.Its like once you are a politician,there is a school you must attend where they teach you vague and ambigous words and empty promises.You have policies,what are these policies?Everybody's mostly educated nowadays so you can't say we won't understand.What are the policies?How and when exactly will you implement your 'policies'?How long before it works?How long will the recession last?We want figures and numbers and facts.We want substance.Jeez!It unfair to give these shallow unsubstantial promises and then expect blind loyalty and full support.
ReplyDeleteThis woman needs a good hair stylist.
ReplyDeleteU are on point! Honestly her stlye of hair na wa!
DeleteOld news,we have been in recession since last year,we are only adding depression to it now,kemi is a good woman,but the truth is that all shoes has its size,kemi is not equipped to be nigerias finance minister in these trying times.
ReplyDeleteAbi oh madam ,afterall the whole world is on economic recession .
ReplyDeleteClueless government and foolish and useless minister of finance. Nothing good comes out of APC. But something good comes out for children of God. God is in control
ReplyDeleteGod help Nogeria
ReplyDeleteMy problem with our government is that they are quick to cite examples justifying our inability to deliver good governance. They however, fail to cite these same examples when talking about advancement in all sphere of our national life. when they do cite, they remind us it took these countries 100-200 years to get to where they are.
ReplyDeleteYet the Senate is still collecting huge salaries?Buying expensive new cars?Hmmmm
ReplyDeleteYet the Senate is still collecting huge salaries?Buying expensive new cars?Hmmmm
ReplyDeleteBia Stella is this the only pix your have? We all know Nigeria is on recession biko you don't have to remind us. Its not like you are feeling or experiencing the hardship.
ReplyDeleteWe are watching and waiting
ReplyDeleteSome one please get this woman a good wig
ReplyDeleteRemembering Okonjo-iwuala. Madam kemi should set her legacy. If she reverses this trend, she won't be forgotten in a hurry. May God help her.
ReplyDeleteWe've been hearing that since GEJ regime but Okonjo was able to manage it.
ReplyDeleteThe shoe is too big for you madam kemi
The CBN Governor said this last year and they attacked him for saying it. God help us
ReplyDeleteWTF IS NEW? WE HAVE GONE BEYOND RECESSION, WE ARE IN DEPRESSION ALREADY SO SHE SHOULD STFU!!!!
ReplyDeleteWTF IS NEW? WE HAVE GONE BEYOND RECESSION, WE ARE IN DEPRESSION ALREADY SO SHE SHOULD STFU!!!!
ReplyDelete