Rivers
Nigeria Is Facing Economic Stagnation – Prof Onachukwu
The Chairman, Board of Di
rectors of Rivers State Bureau On Public Procurement, Prof Okechukwu Onachukwu has said that the Nigerian State is facing unprecedented economic stagnation.
Prof Onachukwu, who stated this at the 134th inaugural lecture of the University of Port Harcourt in Choba recently explained that the high level of unemployment and spiralling inflation were indices of economic stagnation.
He said Nigeria had become so impoverished that some families could not afford N180 (One hundred and eighty naira) per day.
Prof Onachukwu said, recession and inflation were the worst forms of stagnation.
The Professor of Economics traced the dwindling fortunes of the country to mono-cultural economy.
According to him, “Nigeria is facing unfavourable balance of payment resulting from lack of exports.”
He stated that the indices of economic collapse were latent in the preceding years, adding that the fortunes of the country would be turned around if there was investment in the productive sector.
Speaking earlier, the Vice Chancellor of the University of Port Harcourt, Prof Lale Ndowa described the 134th inaugural lecturer as an erudite scholar.
He said because of Prof Onachukwu’s diligence, he had risen to his present status and praised him for his scholarly works.
Chidi Enyie
Niger Delta
CSOs, Bille Community Urge Solution To Persistent Underwater Gas Eruption
Rivers
Dep Gov Seeks Collaboration, Transparency Between RIVCHPP, PHCMB
Rivers
Experts Converge To Tackle N’Delta Business Challenges
-
Editorial1 day agoDomesticate FG’s Exit Benefit Scheme
-
News1 day agoDHQ Confirms Deaths Of Terrorists, Soldiers In Borno Attack
-
News1 day agoRSU Unveils Five-Year Strategic Dev Plan …Calls For Collective Commitment To Institutional Excellence
-
News1 day agoTinubu Commissions Bayelsa Gas Turbine, Other Projects Today
-
Rivers1 day ago
Dep Gov Seeks Collaboration, Transparency Between RIVCHPP, PHCMB
-
Featured1 day agoFG Reaffirms Nigeria’s Stability As US Embassy Suspends Visa Appointments In Abuja Office
-
Nation1 day ago
Rumuji Youth Leader Condemns Protest, Disowns Alleged Government Empowerment Claim
-
Business1 day ago
Niger Delta Investment Summit Targets $5bn Inflows, 500,000 Jobs
