Recession is one of the most deadly threats to the economy and governmental affairs of every country and nations of the earth. It is an eternal destroyer of national dignity and progress. So government, community and people should see it as it is, and nothing less – a worst enemy of growth!
POST RECESSION IN NIGERIA
Definition of Term: RECESSION
“A Recession is a significant decline in activity across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale-retail trade” ... Collins Dictionary, 2017
Almost in every country and nations of the globe had experienced one forms of recession or the other; but the aftermath is what we as individuals and as a country have failed to dig out and bring to the table possible, lasting, realistic, feasible solutions and clearly recovery strategies. The legislatives should have been the pivots or vehicles for social engineering and justice, but the opposite is what we see prevalent in the economy of Nigeria today.
But always there is always one story that has been told of such nations – they all out of it and had experienced the; “Post-Recession” syndrome (either ways is true and can be verified by legal proceedings uniquely and specifically as the case may be).
Nigeria’s case is no different, we are coming out of it triumphantly, and this I know and am confident, that it shall come to pass.
Ladies and gentlemen; few among those countries that had experienced recession are; Trinidad and Tobago, the Great Britain, Korea, the United States of America; this is to mention but a few.
In 1990, following five years of severe economic recession and rising unemployment, Trinidad and Tobago was shaken by the attempted overthrow of the government by a militant Muslim group. The militants blew up police headquarters, seized the parliament building, and held Robinson and other government officials hostage for several days in the abortive coup attempt.
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