Oct 27 2015 Simon Ekpa
Nigeria may slide into recession as economic indicators flash red.
Nigeria’s economy is decelerating at an alarming clip, increasing the risk of a recession by end of this year 2015, as leading economic indicators flash red warning signals.
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What is recession?
Recession is the period of economic decline from the peak to the trough of the business cycle, characterized by decreasing aggregate output and often by rising unemployment.
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How will this recession affect Nigerians?
Well, in practice, it means that the hardship that is about to befall Nigeria will be multiplied by 3, 4, 5 etcetera comparing to the present hardship and poverty level and depending on the level of the recession.
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Why is this indicators flashing red?
It is flashing red because, apart from the fall in oil price, the present administration has no economic policy in-place. Foreign investors are also very scared of coming to invest in Nigeria because there is no economic policy.
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The introduction of Treasury Single Account (TSA) might affect the country’s economic growth.
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Question to Nigerians:
Why is the Treasury Single Account not applicable to the Oil Sector (Petroleum Sector)?
COMMENTARY
If this was true as of 2015 then check 2016. Nigerian economy has no basis for monetary policies, the foundation stone of Nigerian economy are made of mud, nigeria is a zuu and the Zuu must fall! #Ezesays
Eze Afrika
