Government admitted that much during the unveiling of the Economic Recovery and Growth Plan (ERGP) last year.No doubt, our economy remains vulnerable due to deterioration in debt sustainability and rising Non-Performing Loans (NPLs) in the banking industry.If you are not from Nigeria, you are also welcome to join our Nigeria Chat Room to meet people from Nigeria too.
Last month, the global financial institution specifically cautioned the Federal Government to take urgent, sound economic policy initiatives to address inherent imbalances in the economy, stating that the Nigerian economy still remains vulnerable to external shocks despite the recent celebration of exiting recession.
The latest advisory came from the Economic Counselor and Director of the Research Department of the Fund, Mr.
She spoke in Lagos last week at the first National Education Summit organised by the Oil and Gas Trainers’ Association of Nigeria.
Rather than the present over-dependence on oil, Ezekwesili advised that Nigeria should focus on developing the human capital and local content, without which the vast oil and gas resources will count for nothing.
We also agree with the IMF that our economy “is yet to receive boost from policy implementations that can withstand the shocks that pushed it into recession.” As the IMF and the World Bank observed, the exit from recession came on the heels of the new foreign exchange (FX) measures by the Central Bank of Nigeria (CBN), rising oil prices, attractive yields on government securities, a tighter monetary policy and increased external reserve put at a little above bn.
In spite of this, Nigeria could relapse into recession if the government fails to reform and utilise the windfall from oil revenue that is now per barrel, against the projected benchmark of per barrel.So become a member today and discover strong emotions, exchange positive feelings while fulfilling your unspoken desires...Please Note: Comments posted to the comments area below WILL NOT be approved for display if they contain personally identifiable information such as Telephone Numbers, KIK ID’s, Snap Chat ID’s, Skype ID’s, Yahoo ID’s, Email Addresses, Web Links to Facebook etc.Coincidentally, the IMF advice came just as renowned economist and Nigeria’s former Minister for Education, Dr.Oby Ezekwesili, averred that the current over-dependence on oil and gas resources was fraught with great economic risks, as this would not take the country out of the economic doldrums.It's an awesome medium for online communication with interesting people who are open to friendship, flirting, true love, and building a relationship towards marriage.