The recent state of the nation has imposed a lot of hardship on every Nigerian. The recession that hit the nation, shaking it rigourously that some even gave up all hope was announced by the Federal Government on Tuesday September 5, 2017, to have ended. However, most Nigerians have denied that fact, saying they have not seen any sign to show that recession is really over.
encomium.ng spoke with Nigerians on the signs that will tell them that recession has truly ended.
Below are their diverse reactions:
It is easy to know if recession has truly ended because scarce items will become surplus, there will be plentiful resources and the economy will bounce back. There will also be deflation and fall in the prices of commodities.
First, there won’t be scarcity. Naira will retain its standard and it won’t be about N500 to $1. Even if it can’t trade at N1 to $1, it will still retain its value. There will be a lot of food and the market will return to normal. There won’t be hike in prices of commodities.
If recession has truly ended, there should be enough money in circulation. We should be able to afford three square meals, at least. There should also be increase in employment rate , people will stop losing their jobs because companies can’t afford to pay them. Naira should also regain strength over the dollar.
For me, I think recession will be truly gone when an average Nigerian wakes up and has food on his table, when he has something doing, he can feed his family and afford to send his children to school without stress. Recession will be gone when the prices of commodities fall drastically or better still, they should return to their former prices before recession set in.
Recession will be gone when we can afford to feed ourselves with comfort, when we can sleep with our eyes closed, without fear of being robbed or kidnapped. When the youths are gainfully employed or are engaged in one activity or the other. When the markets comes back to normal, when we can make a pot of soup with as little as N300, then I will agree that recession is no more.
Until a common man on the street is able to afford staple food like (garri) at the rate of N300 per paint plastic because l am skeptical on the yardstick the federal government used in measuring the GDP.
It must first reflect in the prices of food commodities. Every other thing can then follow suit. But most importantly, food prices must drop.
First, the prices of things should drop, especially food. Once hunger is out of the story, a poor man is relieved. The economy should bounce back and we should have enjoyed this normalcy for some months, at least 4 months before, we can jubilate that we are out of recession.
– AZEEZAT KAREEM for encomium.ng