The Nigeria Governors Forum (NGF) yesterday advised both the returning and newly elected state chief executive officers to prepare for tough times in governing their domains, warning that there may be another cycle of recession from mid-2020 to the third quarter of 2021.
The chairman of the group and governor of Zamfara State, Abdulaziz Yari, gave the advice at the induction programme organised for the old and new governors at the NGF Secretariat, State House Conference Center, Abuja yesterday.
Nigeria had officially entered a recession, for the first time in more than two decades, in August 2016, according to figures that showed that the economy had contracted for a second consecutive quarter.
According to the Nigerian Bureau of Statistics (NBS), the nation’s Gross Domestic Product (GDP) contracted by 2.06 per cent in the second quarter. The GDP shrunk by 0.36 per cent in the first quarter, amid low oil prices and the country slashed production due to insurgency in the Niger Delta. Read more