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MAN, LCCI disagree with Governor Yari over recession

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The prediction of Zamfara governor Abdulaziz Yari that Nigeria will slide into a recession again has been faulted by Manufacturers Association of Nigeria (MAN) and the Lagos Chamber of Commerce and Industry (LCCI).

The bodies disagreed with the governor’s postulation that Nigeria was not moving.

Yari, had told the newly-elected governors to prepare for another cycle of possible economic recession by mid-2020.

The recession, according to Yari, may not end until the third quarter of 2021.

The Organised Private Sector group, in a reaction on Tuesday, questioned the basis on which Governor Yari made his prediction about another cycle of recession from 2020 to mid-2021.

According to the MAN president, Mansur Ahmed, “although the economy is not growing as fast as expected, it is growing nonetheless and all the projections from the world bank and other international bodies say that it will keep growing.”

The Director-General, LCCI, Mr Muda Yusuf, said “he could not agree with Yari because he was not speaking in the capacity of an economist and did not put parameters forward to back his projections.”

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