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Nigeria won't be out of Economic Recession before 2017 - MAN


Is like chasing shadows for saying Nigeria will exit recession before first Quarter of 2017, says the  Manufacturer Association of Nigeria (MAN).

According to MAN those forecasting that the country would be out of the wood by December, this year must probably be chasing shadow.



The President of MAN, Frank Jacobs, who spoke at a press briefing in Lagos yesterday on the association’s annual lecture holding during its Annual General Meeting (AGM) tomorrow, said in view of the reality of economic circumstances and prevailing economic policies, the earliest probable period the economy can be revived would be after March next year.

He lamented that discordant tunes from government and its agencies such as Central Bank of Nigeria (CBN) have been stalling efforts from the manufacturing sectors to contribute its quota towards the restoration of the economy.

“The situation is really bad and it takes a lot to come out. We’ve often drawn the attention of the Federal Government to the fact that without a viable manufacturing sector, the country is going no where. The recession is deep rooted, those who say we can come out by December must be deceiving themselves”, he said.

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