The Minister of Finance, Mrs. Kemi Adeosun, has stated that the country is “technically’ in recession, noting that the previous administration did not adequately tackle the economic challenges faced by the country.
Fielding questions from senators on Thursday, she said, “Are we in recession? Technically, yes we are. The previous administration was borrowing to pay salaries. We were taking panadol when we had cancer.”
Adeosun stated that the administration of President Muhammadu Buhari is not immune to the sufferings of Nigerians, as it is doing all it can to alleviate their sufferings.
“This government is not immune to the suffering of Nigerians, it affects us all and we are doing all we can to assuage it. It is our collective duty to solve the problems, I am not painting a rosy picture but we will get out of it,” Adeosun said.
She explained that in the bid to diversify the economy, Nigeria needs to bridge its infrastructure gap.
The minister further assured the Senate that the economy of the country is in good hands as spending has been reduced to enable the government embark on necessary projects.
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