Nigeria Would Soon Be Hit By Recession.....Prof. Okonjo Iweala

The minister of finance Prof Okonjo Iweala on Wednesday during the Federal executive meeting urged the Nigerian government to sit up in anticipation of the impending recession that would soon hit Nigeria.

According to her, Nigeria may not be so lucky to escape recession this time as it did during the previous economic melt down.

The recession being experienced in Greece, Spain and other European countries and also the slide in the global price of crude oil is an indication to the fact.

The Minister of Information Mr Labaran Maku, however allayed fears when he assured that the country is in good financial shape. He said the delay in the payment of salaries was caused by the e-payment being embarked upon by the Federal Government.

Source