Nigeria Is Not Out Of Recession Yet – Orji Kalu
Former governor of Abia State, Dr. Orji Uzor Kalu, has stated that Nigeria is still in recession.
According to him, President Muhammadu Buhari came to power at a time there was recession all over the world, stressing that the situation was made worse by the fact that the president equally met an empty treasury.
In an interview monitored on AIT, the business mogul said Buhari was putting every necessary stimulus into the economy to ensure that the country exits recession by 2019.
He disagreed with those who said that the country was already out of recession, stressing, “When I see people who said they are economists saying we are out of recession, I say they don’t understand what they are talking about because we are not out of recession.
Government already has a roadmap to be out of recession and I can assure you that this government is determined to see it happen.
“But, you can’t just tell people that we are out of recession; you can’t do that because the indices are there. What the president and the government are doing is to continue to pump in stimulus, which is what the economy needs to come out of recession. And I can see us moving out of recession in 2019.”
“The president is restraining himself because if he opens his mouth to say what happened in NNPC or central bank, Nigerians will not feel good about governance,” he said.
Kalu equally said that the problem in Libya, which led to upsurge of emigrants into Nigeria and the president’s health challenges, caused a lot of havoc on his plan for the country.
He noted that the president had not done very well in terms of economy, but added that “he is grappling with it. There is a lot of stimulus going into the economy.”