Businessman and former governor of Abia State, Orji Uzor-Kalu, has
disclosed that the economic recession afflicting Nigeria started 2 years
ago, and that when he drew attention to the development in 2014, he was
abused by those in power at the time for pointing it out.
Bureau of Statistics, NBS, issued a report claiming that the economy
shrank by 2.06 percent in the second quarter of 2016, after the economy
contracted by 0.36 percent in the first quarter of 2016.
former governor, who spoke to newsmen at the weekend in Umuahia, the
Abia state capital, where he was hosted by some prominent Umuahia
indigenes, stated that the recession started back in 2014 when he said
the Federal Government was borrowing money to pay civil servants.
to him, “The recession started in 2014. It is just that Nigerians are
biased. When I shouted in 2014 when Federal started borrowing money to
pay civil servants and I said there was recession, they abused me, but I
saw it coming because I am an employer of labour with over 9000
Nigerian workers, so I am an authority.
“I believe that President
Buhari needs emergency laws to tackle the recession. The President has
to design special law and send to the National Assembly to grant him
emergency powers to tackle the economic recession because we have no two
ways to go. We need to know that our belts should be tightened very
He added, “The moment the manufacturing sector attains
full-capacity production, there will be less dependence on importation
and this will shore up the value of the naira.”