Another Circle of Recession returning soon – Gov Yari warns

Zamfara State Governor, Governor Abdulaziz Yari, has warned that another circle of recession will come by mid-2020.

Yari further revealed that governors have unanimously agreed that borrowing is not a reliable alternative to solving the country’s economic problems.

The governor stated this on Monday at the opening of the three-day retreat for returning governors and governors-elect in Abuja.

He said that the current economic reality should prepare governors ahead of the possibility of another recession by mid-2020.

Yari, who is the Chairman of the Nigerian Governors’ Forum, however, declared that their good spirit and preparedness will enable them contain the situation.

He called on his colleagues to work in unity to boost the economy.

He said, ”This scenario is a wake-up call for all of you to come amply prepared to face these kinds of challenges especially since we are expecting the possibility of another cycle of recession by mid-2020 and which may last up to the third quarter of 2012.

“Your good spirit of stewardship will make you contain the situation should there be one.

“As members of the National Economic Council (NEC) you must work hand in hand to boost the economy in tandem with the global best practices.”