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Nigeria Will Remain In Recession Till 2017—Obiano


By Ebitonye Akpodigha

If you have been praying very hard to get Nigeria out of recession as soon as possible as suggested by Senate President, Bukola Saraki, recently, then you have to read this.

The Anambra State Governor, Mr Willie Obiano, has hinted that Nigeria may not get out of recession until the end of 2017.

According to him, “No recession lasts less than 18 months.”

Mr Obiano, speaking during the commencement of the Anambra State Fire and Safety Summit in Awka on Wednesday, also said it was wrong for governments to owe their workers, describing this as wicked and sinful.

He wondered how such governments want their employees to survive the present economic recession when they refuse to pay them.

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Mr Obiano pointed out that the payment of workers’ salaries would energise the economy in a recession and make life more meaningful for the people.

The Governor, who expressed fear that the dollar would continue to rise against the naira, said it would take no fewer than 18 months for the economic downturn in the country to subside.

“A state that does not pay its workers is inviting calamity. Payment of workers’ salaries energises the economy.

“We saw this recession early and made agriculture one of the pillars of our administration.

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“This is why we have been paying our workers. It is wicked to owe workers at a time like this.

“People should embrace risk management. That is the solution to disaster, especially in a recession.

“No recession lasts less than 18 months, so we need to wake up. The naira is moving to N500 per dollar.

“We need to secure our certificates and other valuables of ours so that nothing will happen to them overnight. That’s the way to survive in a recession,” he said.

The Governor urged Nigerians to develop the culture of insuring their lives and property, arguing that it was one sure way of mitigating the adverse effects of disasters whenever they would occur.

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“My expectation is that our people will be better informed about disaster and its management after listening to the various speakers at this summit,” he said.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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