Nigeria entered recession under PDP, says Fashola

Next Story

'Mexicans can forget bad times' - Marquez elated with win over USA in wake of Trump election

Minister of Power, Works and Housing, Babatunde Fashola, yesterday said recession in Nigeria started more than three years.

Fashola1

Fashola, said this yesterday at a media briefing to commemorate his first year in office.

Fashola pointed out that workers retrenchment and the drop in purchasing power of an average citizen eroded as far back as 2013.

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

The minister insisted that 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.

“This has created jobs for hitherto idle artisans, small and medium scale entrepreneurs and empowered other businesses.

READ Archive:   CACOL calls for immediate investigation into IGP Idris’ claims Arase left with 24 police vehicles

“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.

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.

READ Archive:   Kaduna pupils desert schools after eating free meals

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

6 thoughts on “Nigeria entered recession under PDP, says Fashola

  1. Fashola cannot be controverted on this.Recession is the legacy of the trio of Obj,Yaradua and Jonathan
    That is why diversification must not be allowed to fail,otherwise Buhari may become part of that ruinous legacy.

    Like (1)
    Dislike (0)
  2. With due respect, if it were a boom (instead of recession) will Fashola admit that it started under PDP?

    Like (0)
    Dislike (0)
  3. APC should stop complaining and do their work. Nigeria was not as bad in 2014 . Dollar was 150 Naira to a dollar.

    Like (0)
    Dislike (0)

Leave a Reply

Your email address will not be published. Required fields are marked *