Recession: Chamber Wants FG To Roll Out Short-Term Programmes

Abuja Chamber of Com
merce and Industry (ACCI) has urged the Federal Government to roll out short-term programmes to check the current economic hardship being faced by Nigerians.
A statement issued in Abuja yesterday by the chamber’s President, Mr Tony Ejinkeonye said that unless measures were taken to check the development, ending it by December may be a mirage.
Ejinkeonye was reacting to the Central Bank of Nigeria (CBN)’s claim that the country’s economic recovery would begin in the last quarter of the year.
“I do not agree that the economy will be out of recession by the end of this year. Government does not have structures on ground to suggest that it will happen.
“I do not think it is going to happen. That means the Federal Government has only one quarter to get us out of the recession that is so deep. We do not believe that. It will take a while.’’
According to him, it takes a minimum of five years for any country to recover from economic recession.
The chamber boss urged the Federal Government to put physical measures in place to demonstrate that the country would be out of recession in the next three months.