Recession is a period of time in which standard of living is low, there is less trade, business activity and wealth than usual....
The Abuja chamber of commerce and industry has said that the current and fiscal policies being implemented by the federal government are not capable of taking the country out of the current recession .
It disagreed with the position of the governor of the central bank Bank of Nigeria ,Mr.Emefiiele that the country would come out of recession by the fourth quarter of the year .
Emefiele spoke with the media executives in lagos ,"we are already in the valley ,the only direction is to go up the hill and government is doing everything possible to ensure that we move up the hill .
I am optimistic that based on the actions being taken by the monetary and fiscal authority .The worst is over. The Nigeria economy is on the path of recovery and growth .
The President ,ACCI ,Mr.Tony Ejinkeonye said in a statement "We have economic recession, economic recovery and economic boom .It takes a country a period of 5years to recover from recession before it can start talking of economic boom ,that is ,if the right measures are in place .
"We have yet to know the physical measures the government has put in place to enable us know that w are on the right track.Even when the right right decision and policies are set out ,we do not agree that recovery will come soon
Thailand went into recession and it was just last year they came out of it.the federal government is either economic with the truth or not telling us what is really happening
Government do not have structures on ground suggest that we will come out of recession any time soon .I do not think it is going to happen ...
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