Tackling Economic Meltdown with Our Resilience!
Courtsey: SALONE REPORTER NEWSPAPER John Baimba Sesay : China! Nigeria is an economic power in West Africa. It has had its own share of hard economic meltdown. The effect of such on the Nigerian economy and its implications on employment, argued Bimbola Oyesola, in a piece titled, “The Economic Meltdown And Nigeria’ was so devastating that “from the banking sector to the manufacturing, oil and gas, and the informal sectors, none is insulated from the problem. Most companies trying to find a way out, or around the logjam, have tried outright retrenchment, downsizing, rightsizing, outsourcing etc.” What the country did was to introduce measures aimed at addressing the huge existing challenges. By November 2015, Nigeria introduced a number of austerity measures, scaling down its crude oil bench mark for its 2015 budget. The cut on revenue projection Dr. Ngozi Okonj-Iweala had said was to maintain economic stability, “…boost non-oil revenues further, plug loopholes...