There will be another Recession by Mid 2020, till 2021, NGF Warns - Vanguard News

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There will be another Recession by Mid 2020, till 2021, NGF Warns vanguardngr.com vanguardnews

Says States should boost their IGR and Reduce over-dependence on Federation Account, Calls for full diversification of the EconomyLearn to Bring in Outsiders, Non- Politicians, Embrace Opposition, Kukah to New and Returning GovernorsABUJA- THE Nigeria Governors’ Forum, NGF, the umbrella body of the thirty- six state governors, warned yesterday that Nigeria as a county should get prepared for another cycle of recession by mid – 2020 which will last till the third quarter of 2021, just as it...

From the left, Governor Akinwumi Ambode of Lagos State; Governor Tanko Almakura of Nasarawa State; Governor Mustapher Belo of Niger State; Governor Ibikunle Amosun of Ogun State; Governor Rotimi Akeredolu of Ondo State and other members of the Nigeria Governor Forum during the audience the President had with members of the Nigerian Governors’ Forum at the Aso Chambers, State House, Abuja. Photo

The NGF Chair also reminded the governors and incoming ones that it will not be a smooth ride as they begin new administration against the backdrop that while the crude oil price was over $100 from 2011-15, the price noise dived to less than 75 percent from 2015 leading to recession. “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 a third quarter of 2021. Your good spirit of stewardship will make you contain the situation should there be one. Also, as members of the National Economic Council, you must work hand in hand to boost the economy in tandem with the global best practices.

Also speaking, the Bishop of the Catholic Diocese of Sokoto, Bishop Matthew Hassan Kukah who spoke on the task of Nation Building, who noted that the foundations of our democracies were being threatened, however, urged the governors and other elected persons to take decisions on how Nigeria should go.

According to her, as state Executives, they must not seek for commerce without morality, and that they must use the position effectively to build a nation where there will be peace and unity in Nigeria. “But it is important that we have a sense of who we are because, in the journey of leadership especially in Nigeria, sycophancy is very real. The pressure of the society and the people are around you can change the fundamentals of who you are if you not continue to remind yourself of who you are and why you took the job in the first place. And soon enough you become something else other than you who are when you first started.

 

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vanguardngr The truths only come out after the pre-election lies.

vanguardngr Govèrnors and açcolytes payments are priority,security votes,project padding,abandom,etc are the norm.God have mercy. Governors are the new Internal abusive colonialist.

vanguardngr Head or Tail,Nigerian masses are the loser.If the price of crude oil rises,subsidy payment increases and state governors will cry out of low federal allocation that subsidy has to go,if crude price falls....they will cry out prepare recession,yet salary payment is a problem.

vanguardngr When the fire/force comes we go get sense

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