Tuesday, September 20, 2016

NIGERIAN PRIVATE SECTORS FEEL LEFT OUT IN ANTI RECESSION PLAN


Nigerian finance minister Kemi Adeosun looked embattled and stressed as she took bullets for APC in defence of ongoing recession in Nigeria. She respectfully accused Nigerians of complaining all the time without offering any useful solution towards resolving the problem. She agreed with manufacturers and private sector that the interest rate is too high at a period period like this and reiterated that the CBN is independent of the Ministry of finance. She stated all her plans to spend on railways and roads in order to spend the country out of recession. Those are noble plans but private sectors are not hearing any thing that will benefit them. example, Innoson that is scaling down production wants forex or lower tax, airlines closing up want reduced charges ease of repatriating money and local servicing facilities, many industries in Lagos and Aba are asking for steady power supply and lower taxes. Teachers want their salaries paid and so on. They are not able to grasp how building a road and rail line alone will alleviate their suffering. We know that there is this all mighty fight against corruption but recession is a time to throw money around to save jobs and decrease suffering

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