Nigeria's economic recession

2019-04-15 News No comment

The economic situation in Nigeria is a diversified economy that was once the pride of Africa. It flows with natural minerals such as gold, tin, bitumen, coal, natural gas and salt, as well as agricultural products from our local cassava to mature cocoa and rubber trees. The discovery of oil in the late 1960s was related to other economic booms. These periods are characterized by adequate food, increased salads, moderate government facilities, high standards of living and higher imports. Neighbors and citizens live in a paradise or you can call it a well-organized society.

However, those times have disappeared and have been replaced by the new era. This era is full of hardships and hardships, fewer health care, poor roads, lack of airport, inflation, deflation, poverty, hunger, sadness and burden.

  This era is known as the economic recession. We heard the word "recession!" But do we know what it is?

The recession is a time when the economy has fallen sharply for at least six months. This means that the following five economic indicators have fallen: real GDP, income, employment, manufacturing and retail sales. This is really a disaster.

I am very happy to take this opportunity to share my views and insights on the main concerns of the current economic downturn in Nigeria. I want to start from here to say that I am a firm believer in the Nigerian entity. I still believe that our status and status as the heart of Africa is undoubted, because we are becoming more influential in promoting a stronger continent that can occupy a place in the rituals of other continents. This is to alleviate the ideological doubts of my compatriots and others who think we may have lost it for any or the sake of the subject.

Are we having trouble? Yes, unfortunately, we found our current position. has it ended? I do not think so!

Therefore, if Nigeria wants to recover from the current blow, it needs to diversify the economy. So far, the oil-dependent economy has put us in a difficult position. Therefore, it is more important than ever to give other departments considerable attention and improvement. There are many resources that are underutilized. These ' untouched ' in order to alleviate the pressure on the oil sector, these areas should be turned into reality. Although the impact of diversification may not be immediate, it will produce positive results in the near future.

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