FRANK TALK WITH FEMI OLANIPEKUN
The Federal Government has been warned that the current economic recession will get broader and probably enter into depression if not dealt with decisively and practically.
Guests on Frank Talk, Rave FM’s News and Current Affairs interview programme gave the warning while assessing the state of the economy and steps by government to restart it.
Mr Paul Alaje, an economist, speaking from Abuja, maintained that the recession started officially on the last day of June and emphasized that the country need a major surgical operation to prevent it from descending into economic depression which according to him is worse than recession.
He said there was no evidence to back the claims of the CBN Governor that the economy was out of the worst period of the recession, recommending that quantitative easing be adopted to help Nigeria out of the crisis.
Another guest on the programme, Mr Ademola Adeyinka, who joined live from Lagos, advised government to pump money into commercial banks to jump start growth and not infrastructure alone.
He expressed the hope that the economic retreat by the federal government with key private sector players to find a way out of the crisis will yield fruits.