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Published On: Fri, Mar 13th, 2020

Nigeria’s sliding economy, huge threat to 2020 budget

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From Nosa Akenzua, Asaba

Delta state Governor, Dr Ifeanyi Okowa on Thursday expressed regrets and fear of the unknown following the sliding Nigeria’s economy, lamenting that the Current problem poses huge threat to Capital expenditure as it might repeat of 2016 failed economy.
Okowa at a media briefing in Asaba told Journalists that following the slump in Oil, it’s clear that Nigeria is heading for a economy doom as all the states will soon be faced with Serious absurdity of Challenges
With his voice muffled, the Governor said” with the Slump in Oil, Nigeria will Continue to be faced with huge threat to 2020 budget, and might be threatened, we as Governors are Currently not Comfortable with the situation because we are likely to have a repeat of 2016, as a nation we are struggling to diversify our economy, but it seems not to be working and that will also affects the dividends of democracy, we can no longer execute projects as it were because the situations are worse hit and Nigerians seem to be hopeless in this direction”
Noting that unless the economy team at the Federal Government level is effective, the poor situation in the slumped oil, mighty forced the Country to a total failure, Governor Okowa said” We in Delta state have put measures in place with a view to improving our standard of living, we will have to suspend many of the Capital projects, and focus on the existing ones because we not sure of when there will be Improvement, Nigeria is really facing Serious difficult times, and so also in states, and Delta state not exception, we are in precarious times and our hope is that our economy team should do something as soon as possible”
On the health insurance contributory scheme, the Governor disclosed that over 6630,000 have been registered for the scheme, adding” my administration will continue to strive to ensure that the scheme succeeds in providing for all Deltans, especially the widows and those who have no stable means of livelihood, and apart from our achievements , we have not gotten where we want to be and we shall get there Certainly with the supports of all Deltans”, and expressed his administration Commitment towards revamping and development of the state.

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