Author Topic: Recession has been Growing for 3 years – Babatunde Fashola  (Read 87 times)

0 Members and 1 Guest are viewing this topic.

Offline Ereporter

  • Hero Member
  • *****
  • Posts: 796
    • View Profile
Recession has been Growing for 3 years – Babatunde Fashola
« on: November 12, 2016, 10:19:37 AM »


Babatunde Fashola, the minister of power, works and housing said on Friday night that the prescription for recession in Nigeria had been in place for more than three years.

Fashola, accompanied by the minister of state in the ministry, Mustapha Shehuri, and its top officials, spoke at a media briefing to commemorate his first year in office.
He noted that when workers were being retrenched and the purchasing power of an average citizen eroded, as had been the case since 2013, these were obviously signs of recession.

He, however, expressed the hope that the Muhammadu Buhari-led administration was on the road to making Nigerians smile once again.

According to Fashola, electricity generation in Nigeria has improved considerably in the last 12 months, peaking at above 5074MW for the first time in the nation’s 63-year-old electricity history earlier this year.

He said this has created jobs for hitherto idle artisans, small and medium scale entrepreneurs and empowered other businesses.

He noted that the more than 800 containers of imported power generation and distribution components stranded at the ports for between three and eight years, have been released.

He regretted that about 3000MW of electricity was lost to vandalism, adding, however, that the Federal Government was discussing with agitators in order to put an end to the destruction.

Fashola said electricity generation would continue to appreciate as more stations come on stream and contribute to the national grid.

The minister appealed to electricity consumers to be patient with distribution companies over insufficient prepaid meters, noting that the privatization of the sector was only three years old.

He said that the meters would soon be readily available as more companies embark on their production in Nigeria.

Source: http://nigerianewsnow.com.ng/2016/11/12/recession-has-been-growing-for-3-years-babatunde-fashola/



Loading...
 

Court Sentences Boko Haram Financier to 10 Years Imprisonment with Hard Labour

Started by jchima14

Replies: 0
Views: 164
Last post November 06, 2014, 06:59:40 AM
by jchima14
Fayose?s Official Mercedes Car:?A True Reflection That Nigeria Is 100 Years back

Started by jchima14

Replies: 0
Views: 168
Last post October 19, 2014, 10:52:36 AM
by jchima14
Adesina: How FG Ended 40 Years, N800bn Fertilizer Scam in 90 Days

Started by jchima14

Replies: 0
Views: 148
Last post November 04, 2014, 07:35:59 AM
by jchima14
Unbelievable! Priest who died 89 years ago spotted moving about (photos)

Started by Ereporter

Replies: 0
Views: 66
Last post October 12, 2016, 03:47:49 PM
by Ereporter
SHOCK: The fake doctor was arrested after practicing in Lagos for 11 years

Started by Ereporter

Replies: 0
Views: 108
Last post November 25, 2016, 03:40:27 PM
by Ereporter
Falana seeks pardon for 70 soldiers serving 10 years for mutiny

Started by Ereporter

Replies: 0
Views: 41
Last post December 20, 2016, 02:06:17 PM
by Ereporter
SHOCKING: Senate makes legal age to have sex in Nigeria 11 years

Started by jchima14

Replies: 0
Views: 671
Last post June 04, 2015, 09:34:06 PM
by jchima14
Former Local Government Chairman To Spend 70 Years In Jail

Started by Ereporter

Replies: 0
Views: 62
Last post October 07, 2016, 05:36:42 PM
by Ereporter
Unlawful Assault: Soldier gets demotion, three years imprisonment

Started by Ereporter

Replies: 0
Views: 81
Last post October 18, 2016, 07:57:25 PM
by Ereporter
Mexican Govt quietly marks 10 years of drug war

Started by Ereporter

Replies: 0
Views: 170
Last post December 10, 2016, 05:06:24 PM
by Ereporter