Presidential aspirant Peter Obi explains why this recession will be worse
Nigeria is in recession and presidential aspirant Peter Obi has given his thoughts on the situation.
Obi stated in a recent interview on channels television that the current recession Nigeria is currently in is going to be worse than that of 2016.
Obi who is a former Vice Presidential candidate under the Peoples Democratic Party (PDP), revealed that the while political permutations for 2023 are ongoing solving the current economic crisis should be the priority.
He said; “Every other country is discussing the recession and how to pull their people out of poverty. So what we should do now is to concentrate on the monetary and fiscal policies to start pulling people out of poverty.
“If you see what happened with recent protests, you could see that we are heading into a problem. And I want our energy to be concentrated in that problem. The politicians, the class where I belong, should do more seriously, across party lines, to be able to arrest the situation before it gets out of hand.
“For me, it is in discussing how do we put food on people’s table. Elections will come and we can see how to select the best. But let’s deal with the recession we have just entered before 2023.
“The cost of governance is not acceptable. There is too much waste. This recession is going to be worst than in 2016 because the monies we borrowed then were not properly invested.
“What we need now is to go into a vigorous regime of formulating implementable and measurable monetary and fiscal policies to drive ourselves out of the present situation.”
Watch Obi give his thoughts on the recession below
While COVID-19 contributed to it, ours (recession) would be worse because we did not plan for it – Peter Obi, former Anambra Governor on pinning Nigeria’s current recession on the President Muhammadu Buhari’s government.#Sundaypolitics pic.twitter.com/iI1Z0nFPXO
— Channels Television (@channelstv) November 22, 2020