I WONDER WHY NO ONE IS THINKING ECONOMICS - Cross River Assembly Speaker

I WONDER WHY NO ONE IS THINKING ECONOMICS-We urgently need Economic Democrats

 

The Speaker of the Cross River State House of assembly on Tuesday took to his facebook page to warn Nigerians about the impeding Economic crises that will befall the nation if Urgent steps are not taken. read His Comments below.

''About 5 years ago I attended the side meeting of the world economic forum.

The forum postulated that

1) By 2015 the price of oil will be below $40 and any country completely depended on oil will enter into a crisis of Deep depression.
2) By 2015, the global funding for all development programes will diminish by 70%, and the MDG project life cycle will expire, African countries must immediately put in place a back up programe.
3) African countries must immediately put in place a reform process to achieve an Economic Democracy rather the then prevailing political Democracy.
4) Foreign direct investment will diminish by 70 % because the developed countries will suffer more severe economic downturn.''

Just 5 years down the line, no one seems to be thinking.
The implications is obvious, with $35 per barrel and a budget anchored on $38 on a medium term expenditure framework, we are in depression.

''I think subsidy will go, 

 salaries will go down''.

''Nigeria will need Bailout,
Who will bail Nigeria?''

''We urgently need Economic Democrats'' he wrote.

Lets just hope the CHANGE we all voted for will indeed Change the Economy and save us from  possible depression.