The Minister of Power, Works and Housing, Mr. Babatunde Fashola, said on Friday night that the prescription for recession in Nigeria had been in place for more than three years.
The ‘super minister’ added that power generation in Africa’s most populous country has improved in the last one year.
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.
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