BY NADUM 18 JAN , 2016
The Minister of Transport, Mr. Rotimi Amaechi, said Nigerian economy has not collapsed as being speculated, stressing that the year 2016 is going to be tough given the fact that crude oil price has not stabilised. Also, a renowned financial expert, Mr. Bismarck Rewane has said that the Federal Government’s fiscal and monetary policies need to be harmonised in order to give investors confidence to invest in the country.
Speaking at the Business Eye Roundtable Discussion tiled “Nigerian Economy 2016 : Charting way forward , Amaechi said “We are going to have tough time in 2016, because the crude oil benchmark that the Federal Government fixed for the Budget is less than what the price is right now.
The Federal Government fixed N38 per barrel while the price now is less than N30 per barrel. Nevertheless, Nigerian economy has not bottom out as some people do say. With the corruption fight by Buhari’s administration and blocking of leakages, the economy will bounce back with time, but individuals have to make sacrifices.”
