An Avoidable Recession is Frighteningly Close - FDC



Friday, June 03, 2016 6:10PM /FDC

With diesel at N180 per liter and a bag of rice at N17,500, Nigerians sweltering under high inflation and an imminent recession, are said to be suffering and smiling.

However, they have absolute confidence in the integrity of the Buhari/Osibanjo team and are awaiting with bated breath, the forex policy guidelines and rate.

Monthly oil revenues have dipped from $1.2bn per month earlier in the year, to $500m. This is likely to trigger an external and balance of payment crisis.

The market cannot afford any further delays and procrastination on the exchange rate, as this could make a bad situation worse. The risk of a policy reversal and ideological backsliding is now looming with possible devastating consequences.


Related NEWS

1.       Buhari 365 Days in Office: A Year of Hope, Change and Fear – FDC

2.       The Road to Recession - Nigeria's Steady Descent

3.       Of Recession, Devaluation and Productivity Gaps

4.       Headline inflation increases sharply again to 13.7% - FDC

5.       Managing Equity Investments during Market Downturns - FDC

6.       CBN takes Market by Surprise - FDC

7.       Oil Prices Recover, But May Not Be Sustainable – FDC

8.       Electricity in Nigeria, Powerless – FDC

9.       Exchange rate turmoil to push Headline Inflation above 10% - FDC

10.   Naira Volatility Undermines Economic Stability – FDC

11.   Potential Impact of Financial Inclusion on Economic Growth in Nigeria - FDC


Related News