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‘We’re still feeling the heat of recession, but there’s hope’ – Nigerians chorus

As 2017 entered the third quarter and the country’s economy is still staggering, many Nigerians have started criticizing the governor of Central Bank (CBN), Godwin Emefiele on the statement credited to him in one of the dailies that Nigeria is moving out of recession. They described his appraisal of the nation’s economy as faulty and baseless. However, few Nigerians had a chat with also disagreed with CBN boss but believe there is likelihood of moving out of the economic quagmire in 2018.


‘I don’t agree totally with Emefiele’ – BADR OLAWOYE

I am a businessman, I have been in business for over 20 years. I have never faced this kind of economic situation. We need to tell ourselves the truth, nothing has really changed. So, I don’t agree with the CBN governor that we are moving out of recession. The only thing that has happened is that the exchange rate is stable, but that has not really affected the poor positively. Even prices of commodities have not come down.The man is just talking from his end, not feeling the heat as we’re doing. The only thing is that if the exchange rate is worked on a bit, things will stabilize. Then, by next year, we will be talking of moving out of recession.


‘The economy is still very weak’ – EZEKIEL CHUKWUEMEKA

It’s too early to be saying that. We have not even moved an inch out of recession. People at the grassroots are the ones to tell the story, not those at the centre. The first thing to note is change in the prices of essential commodities, and that hasn’t happened. So, how are we now moving forward? Emefiele’s statement is reckless. This is not an academic thing, it’s a street matter. Although, with the policies of the present government, especially the anti corruption crusade, I believe Nigeria has a future.

‘We’re moving forward gradually’ – DEMOLA ADUNOLA

I believe we’re moving forward gradually. Nigeria will get out of recession in the next eight or nine months if the exchange rate remains stable. And gradually we’re beginning to move out of dollar oriented businesses. With that, dollar will surely be going down.

And so far that is achieved, Nigeria is out of recession. So, there is hope. The governor may not be wrong in his assessment outrightly.

  • Tade Asifat

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