Founder of Nairametrics, @ugodre was on CNBC Africa on Tuesday, discussing the Monetary Policy Rate, the implication of a recession in Nigeria and the new CBN directive to commercial banks to sell forex to BDC’s.
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recession or depression.is an aggreted loss of business confidence,a depression sometimes aftermath follows a new bout of confidence,acording to the british newspaper, financial time,nigerian economy contracted about 1%,and about 500,000 jobs have been lost,which was also said by cardinal Anthony okogie.
I felt,why was the economy so affected so serverely in this down-fall,so I thought the economy will turn-up positively,even this year,the governor of cbn have urged banks to increases lending,but increases bank interest rate,but now I doubt this govt will turn the economy around before the next election.THEY DO NOT HAVE MUCH TIME TO CONVINCED NIGERIA,IN THE NEXT ELECTION.
I WAS CRITICAL ,IF THIS GOVT DO NOT WIN THE NEXT ELECTION,THEY SHOULD BUILT STRUCTURAL SYSTEM AND STRUCTURAL REFORM IN NIGERIA,for the next Nigerian young people.my generation have been wasted by previous govt.
REFORMED financial system,reformed taxes collection,reformed police forces ,reformed health delivery system,when Mao took over in china,their population was about 350 million Chinese,they have this bare foot doctor throughout the country.the population jumped 5 times within a short time,we can overtakes Britain and japan still before 2022,if there is political will,the minister of transport wants to built a railway from lagos to calabar,it,can be still done,inspite of national assembly objection, through new taxes,create a new bond govt or company bond, break-up railways allows them to raises their fund,they said it will cost about 60 billion naira