Nigeria Moving Towards Recession – KOWA Party | Independent Newspapers Limited
Newsletter subscribe


Nigeria Moving Towards Recession – KOWA Party

Posted: May 23, 2016 at 3:30 am   /   by   /   comments (0)

Augustine Adah

Lagos– Jude Feranmi National Youth Leader of KOWA Party has advised the federal government to take urgent action in order to rescue the dwindling economy.

According to a statement he personally signed , Feranmi urged the Muhammadu Buhari-led administration to use the similar effort in fighting corruption to tackle the economy which is gradually going into recess. He said,

“The Federal Government must therefore act urgently as it clearly appears that we are almost close to a recession in the economy.”

He further appealed to the government to fulfill its promise of injecting N35Ob into the economy without further delay.

“The Federal Government’s promise to inject N350bn into the economy to boost the economy is a step in the right direction and this must begin almost immediately.

“From all indications especially with respect to the GDP which is a broad measurement of a nation’s overall economic activity, we are running a Sick Economy that is currently showing no signs of recovery.

“We implore the Federal Government to channel as much energy as is been channeled towards the anti-corruption fight towards the economy which has more immediate benefits to the average Nigerian than the latter.”

Feranmi urged the federal government to take urgent step to revamp the economy

. “Our Economic Reality today is not what we want it to be neither is it what it used to be. Quarter after Quarter, the debate about whether we are already in recession continue to hold sway amidst economists, businesses continue to shed jobs, unemployment rates continue to increase”.