Nigeria’s Minister of Finance, Mrs. Kemi Adeosun has finally admitted what many analysts feared – Nigeria is in a recession.
The Minister while addressing Senators today on state of economy said, “Are we on recession? Technically, Yes, we are.” Mrs. Adeosun dismissed the forecast of the International Monetary Fund that the Nigeria economy was likely to contract by 1.8 per cent this year. “I am not to worried about IMF projections,” she said.
Kemi Adeosun reacting to the salient concerns raised by Senator Mohammed Hassan about the recent IMF Forecast and how Nigeria will cope with Foreign Exchange pressures, made a vacuous bid to assure Nigerians lacking in substance.
She said, “We cannot begin to summersault when somebody from abroad says something or gives an opinion” even as she called on Nigerians not to panic as “we are still the biggest economy in Africa and we will still get better.”
More details later..
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