Nigeria’s economy on brink of collapse, NECA raises alarm
The Nigeria Employers’ Consultative Association, NECA, Sunday in Lagos, raised the alarm that the nation’s economy is on the brink of collapse, warning that spiralling inflation, rising energy cost (scarcity of FOREX, the dwindling value of the Naira among others, are bleeding the economy. Speaking in Lagos, the Director-General, DG, of NECA, Mr Wale Oyerinde lamented that the economy is under the weight of an almost comatose aviation sector, stuttering education system, rising debt, depleting Foreign Reserve and rising fuel subsidy expenses among others. The newly appointed D-G of NECA advised the federal government to employ a holistic and multi-pronged approach toward resolving the challenges faced by the nation. According to him, “The nation is currently faced with multiple challenges. With a dire combination of spiralling inflation, rising energy costs (aviation fuel, diesel, etc.), scarcity of FOREX, dwindling value of the Naira and an almost comatose Aviation sector. Also, with