The Fresh Recession In Nigeria has been described as the worst of it since the last 33-years.
As Nigerians react to the report about the fresh recession in the country, a former governor of Anambra State, Peter Obi has revealed what he considered the solution to the economic meltdown in Nigeria.
The former Vice Presidential candidate of the Peoples Democratic Party, PDP further stated that the current recession is going to be worse than that of 2016.
The former Governor reiterated the need to concentrate on the monetary and fiscal policies to start pulling Nigerians out of poverty.
He charged politicians to do more seriously, across party lines, to be able to arrest the situation before it gets out of hand.
“For Nigeria to pull itself out of this economic recession, the 2nd in the last 5 years, there’s a compelling need to cut the pork out of the budget and expenditure at all levels of government and redirect the economy from a wasteful consumption-based one to a productive economy.“
Obi accused the President Muhammadu Buhari-led administration of not properly investing the money borrowed.
According to him, the cost of governance is not acceptable and there is too much waste.
The former governor added that Nigerian leaders need to take very difficult decisions if they are to turn the tide and put the economy back on the track of positive growth.
Meanwhile, he opined that solving the current economic crisis was more important than political permutations geared towards 2023.