20160721

Nigeria's Economy Falls Into Recession

Information reaching OluFamous.Com indicates that the Minister of Finance, Kemi Adeosun, told the Senate in session this afternoon that Nigeria's struggling economy is finally in recession.

When asked if we are in recession, Mrs Adeosun said; "Technically, Yes." She also confirmed in clear terms that there is no more subsidies. With this reality, what is the way out?

These are indeed troubling times for many families. Inflation figures are scary. The cost of goods and servicing are increasing on a daily basis. The value of the Naira is not encouraging, especially at the notorious black market which operates with virtually no control.

I hope the government will be able to fashion out a realistic way forward in the shortest possible time.