![]() | ||
President Buhari |
The news came early this morning that Nigeria’s Gross
Domestic Product figures for the second quarter of 2016 GDP growth plummet
further from -0.36 per cent in the first quarter to -2.06 per cent
year-on-year, according to The National Bureau of Statistics.
This simply means that Nigeria is officially in recession for the first time in 20years. This means a significant decline in economic
activities within an economy that lasted longer than a few months, which is
also visible in industrial production, employment, real income and wholesale
retail trade.
This is against the backdrop of an economy that was rated 1st
in Africa, when in 2015 Nigeria overtook South Africa as the biggest economy in
Africa.
![]() |
No more Indomie with Chicken |
The reason often given by the APC led Buhari’s government is
the fallen price of oil, decline in oil production as a result of the militant
unrest in the Niger Delta and the alleged massive mismanagement of government funds under
Jonathan’ government.
![]() |
How i for do now? |
But the question is, what is the government doing to ameliorate
the sufferings of the ordinary Nigerian who voted for a change and end up having
a change that seems worst than the former, as all indication points to the fact
that confusion and lack of vision seems to be the problem of the Buhari led APC
government..
![]() |
Which way Nigeria? |
No comments:
Post a Comment