Our leaders don’t always want to tell the common man the truth. How will they now tell us that recession has ended in the country when more families cannot afford a three-square meal, many workers are being retrenched and those still in employment are not being paid? Nigerians do not need anybody or group to tell them if suffering in the land is abating or worsening, because the people, who are in the middle of the storm can tell the story themselves. How can you say you are recording economic growth and suffering is worsening? Go to the market and price goods and other food items, you will find out that Nigeria will have to endure more years before coming out of recession. For instance, the prices of staple foods like garri, beans, rice, semovita, wheat, meat, egg and even pure water amongst others have remained high, which is why many families cannot boast of a good meal every day. Now, many people are begging to have at least food to feed their families, while the companies are continually retrenching people or closing down. This hardship we are facing, the people in government house are not facing it and that is why they want to make us believe that recession is over.
No, because the NBS report could be a hoax and should not be totally believed. Nigerians should have started feeling the impact by September since June marked the end of Q2 in 2017 but the prices of essential commodities are still high and the inflation rate has also not declined.The market only understands the laws of supply and demand. The NBS report is what I refer to a statement borne out of voodoo economics. The market only understands the forces of demand and supply. If the prices of goods in the market are still high and the inflation rate has not declined, it simply means that we have not produced enough to go round. The GDP cannot then be said to have improved. So we cannot be celebrating an exit from recession. Nigeria’s economy is still very much in recession and it is biting even harder by the day. The NBS just rolled out figures which are pre-determined by the government.
Yes, I do and the news of Nigeria’s exit from recession is a welcome development and this will serve as a means of restoring the confidence of foreign investor in our economy but let us not be in a hurry to celebrate, the question is what has changed? The general public must feel the impact of the exit from recession. The administration of President MuhammaduBuhari should remain dogged and resolute in the implementation of the Economic Recovery and Growth Plan (ERGP) because the ERGP is a masterpiece blueprint for any economy that is serious about diversifying from oil.
The impact is not being felt at all, until the dollar crash against the naira and prices of electronics and furniture are reduced, then I will believe the NBS report. It was the recession that led to the high prices of goods and until the prices crash, Iwould not join in the celebration.
The impact of Nigeria being out of recession might not trickle down to the common man and reflect on the prices of goods due to the high exchange rate. I will suggest that the government should continue with sound policies by involving stakeholders in their formulation, adding that policies should be consistent and allowed ample time before being terminated. What ultimately matters to business is the impact on the cost of doing business, productivity of the economic players, competitiveness of firms and the sustainability of investment.
The impact of Nigeria exit from recession has not been felt at all. I feel what matters is the effect of the GDP, the impact on food prices, cost of health care, transportation cost, power supply and the purchasing power. These are some of the ultimate outcomes that will determine whether or not the exit from recession will be celebrated and also the exit from recession is also an indication that some of the policies of the government have impacted positively on the economy.
It has not been felt and I query the NBS statistics and why I said this because my experience of buying basic goods suggests that the livelihoods of ordinary Nigerians are not improving. For instance, I buy sliced bread for N250 but for over two months now the cost is N300. So tell me, we the masses are not feeling the impact of Nigerian exit from recession.
We are not out of recession because I really don’t know how they got the statistics but I don’t want to bother myself with the statistics they have put out. The reality on ground is that things are not getting any better in Nigeria. There is no money in the country and that is the reality. The exit from recession is commendable but economic growth remains fragile. Food price inflation remains an issue due to high transport costs and seasonal factors such as the planting season. But I believe that if investments on road and rail infrastructures, increased supply and availability of fertilizers, improvements in the business environment, then it should contribute to the easing of food prices.
I am happy that we are out of a recession but figures like this can give you an idea of the rate at which inequality is growing in Nigeria. The GDP growth rate is too weak to improve the standard of living of most of the population so things may continue to be as hard as it has been for some.
I don’t think recession is over. The cost of living is still very high. The rate of unemployment is still alarming and the presidency statement is rather a political gimmick. Everything they are saying is a political gimmick. Very soon you will hear that the recession is over because the election is over. The government should be sincere with the people.
It is too early to blow the trumpet of the exit from recession while the prices of goods are still high. It has also not affected foreign exchange and so importation is still low. It will still take up to one year for things to normalize. So, it is at that time that people will be celebrating the exit. The government should have allowed that time to come before rolling out the drums.
My take on this is that we have not seen anything for the government to have said that we have exited from recession. The poor man on the street is still hungry, we are still lagging behind in terms of infrastructure, prices of food items are still skyrocketing, so many people including doctors have not been paid salaries as workers are still being owed, even ASUU is on strike. When a country cannot meet up with the needs of the masses, I then wonder why the government said we are out of recession. If the government say that, it means they are looking at it from another point of view. We have not seen anything yet, so we remain hopeful that we emerge from recession soon enough so that it can translate to the various sectors of the economy.
I am not impressed with the story that Nigeria is out of recession, it is when it translates to a better standard of living that the issue can make sense to everyone. What does coming out of recession means to me, when I have not got job for the past eight years after my youth service? I don’t believe all these nonsense about Nigeria getting out of recession. It is when I am able to secure good job, feed myself and live comfortably that I believe that Nigeria is out of recession.
No impact felt at all, the Federal Government should reflate the economy to enable Nigerians get money to feed themselves. There is hunger in the land and government should do something about it and that is the only way to convince the citizenry that Nigeria has exited recession. When I heard the news that we are out of recession, I was very happy. It means that, at least, there would be a change from the current hardship we are passing through. My advice for the Federal Government now is to ensure that they make money available so that people would be able to feed and buy things they need. There is hunger everywhere; to feed now is a big headache to many people. So if government releases money and people who are being owed backlog of salaries are paid, the economy will be reflated.
Copyright Ships & Ports Ltd. Permission to use quotations from this article is granted subject to appropriate credit given to www.shipsandports.com.ng as the source.