NIGERIA ECONOMY UPDATE: Truly Nigerians have move from RECESSION to DEPRESSION
The federal government has been heavily criticized for mishandling the economy and failing to properly manage the economic situation of the country.
Enugu State Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA), has criticized the FG, revealing that Nigeria has already plunged into depression contrary to the claims of recession making the rounds in government circles.
Noting that the prevailing situation where families can no longer afford one square meal is a clear pointer that the economy is depressed, ECCIMA stated that unless the Federal Government quickly rejigs its economic team, people’s means of survival may be greatly diminished. Daily Post reports that the assertion was made by the director general of ECCIMA, Mr Emeka Okereke, who pointed out that the south-east geopolitical zone was the worst hit by the state of the economy. He based his judgment on the abysmal infrastructure in the region which has crippled trade and commerce that forms the bedrock of the regions’ economy.