An Owerri based Economic Analyst, Dr. Andrew Nnaji Obi has described the outgone the year 2021 as the worst year for Nigeria’s economy
According to him, “the outgone year was not a comfortable one for the Nation’s economic growth”
Addressing journalists in Owerri, Dr. Obi noted that the numerous challenges witnessed last year particularly from the second quarter of the year can be seen as being responsible for the decline of the economy
He outlined some of the challenges as, #End SARS issue, insurgency in the North-East part of the country, the militancy in the south Geo-political zones of the country, and agitations for self-Governance and separation
According to him, “all these and other challenges which did not give room for the growth of the economy were grossly responsible for the bad state of the Nation’s economy”
Dr. Obi visibly disturbed further noted the word incidence of that year ended was the mass killings of innocent persons particularly the youths that would have served as the propeller of the economy by engaging in some meaningful economic ventures in the country
“It was really tough for Nigerians and the economy, since the history of this country, this kind of situation has never been experienced before” he stated
He expressed dip worry over the recent foreign borrowings by the present administration pointing out their implications in the future life of the country and its citizens
The Analyst urged the present administration to do what it can to urgently fix the economy before its exit in 2023
He also urged president Mohammadu Buhari to stop further borrowing of any sort pointing out that repayment may not be easy and as such would have a devastating effect on the economy of the country.
