Zamfara state governor, Abdulaziz Yari, has said that another cycle of recession is about to hit Nigeria.
Yari who is also the Chairman of the Nigerian Governors Forum NGF, said the recession is likely to set in by mid-2020. The governor stated this when he spoke at the opening of the three-day retreat for returning governors and governors-elect in Abuja today Monday, April 29th.
The governor also pointed out that borrowing is not a reliable alternative to solving the country’s economic problems. He therefore urged the governors to work in unity to boost the economy.
Speaking on the backdrop of the country’s dependence on crude oil which price has been fluctuating in recent times, Yari said
”This scenario is a wake-up call for all of you to come amply prepared to face these kinds of challenges especially since we are expecting the possibility of another cycle of recession by mid-2020 and which may last up to the third quarter of 2012. Your good spirit of stewardship will make you contain the situation should there be one. As members of the National Economic Council (NEC) you must work hand in hand to boost the economy in tandem with the global best practices”.