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Recession: Respite as MAN, AFAN move to sustain growth in Nigeria’s economy

The Manufacturers Association of Nigeria (MAN) has welcomed the news of Nigeria exiting recession, saying that the nation now awaits the positive reflection of it on the economy, after overcoming the effect of the nationwide lockdown and constrained economic activities, both local and international.

However, the Nigerian farmers, under the umbrella of the All Farmers Association of Nigeria (AFAN), have warned the Federal Government and officials of Nigeria Bureau of Statistics (NBS) that for the country not to drag into the third recession, farmer-data capture exercise undertaken without the involvement of the States Ministries of Agriculture, Federal Directors of Agriculture and Farmerassociations like AFAN, will fail woefully. The Nigeria Bureau of Statistics (NBS) on Thursday announced that the country’s gross domestic product (GDP) has grew by 0.11 per cent in Q4 2020, thereby exiting recession.

In a separate interviews, the Director-General of MAN, Segun Ajayi-Kadir and AFAN President, Kabir Ibrahim, said it was not yet celebration time for the nation’s economy as the slim growth of 0.11 per cent GDP in Q4 2020 only indicated that there must be proper synergy between government and the private sector to drive the economy forward henceforth. Specifically, Ajayi-Kadir said the report of the country coming out of recession was a welcome development despite the unending trajectories that marred the end of the year performances.

He said: “The NBS report that indicated that Nigeria’s Gross Domestic Product (GDP) grew by 0.11per cent (year-on-year) in real terms in the fourth quarter of 2020 is a welcome departure from the negative growths we have witnessed in the past quarters. “The report, however, added that it represents the first positive quarterly growth in the last three quarters and it is a very slim one at that. “One may also agree that the positive trend may be an indication that the economy is beginning to gather some momentum after that emasculating effect of the lock downs and constrained economic activities, both local and international.” On his part, Ibrahim said Nigeria may be out of recession as claimed by the NBS but there is need for proper collaboration and hard work on the part of the government, private sector and Nigerian farmers, to avoid a third recession.

He further said that: “While it is a very crucial component for planning, a farmer-data capture exercise undertaken without the irect involvement of the states ministries of agriculture, federal directors of agriculture and farmer associations like AFAN will fail woefully.

“Any intervention in agriculture by anyone, especially the FMARD and the CBN, must take cognizance of the states and farmers’ associations to really have any significant impact on agriculture in Nigeria. “Agriculture takes place in the states and the farmers who work the land to produce crops and raise livestock also reside in the states. “The Federal Government does not own farms and not all the states are governed by the same party as such the FMARD has to cooperate with the states to convince them to key into its programmes to achieve sustainable outcomes. “Appointing consultants and asking them to proceed without any input from the beneficiaries such as the farmers is not going to work sustainably.”

 

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