Economic recession, the trends, the spiral effects and the practicable solutions: a Nigeria case study by amusa abdulateef

Economic recession, the trends, the spiral effects and the practicable solutions: a Nigeria case…

byamusa abdulateef

Kobo ebook | May 8, 2017

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Author Amusa Abdulateef, broke away from the use of economic jargons of the economists, public think tanks and financial analysts to use explicit and unambiguous lucid words to define economic recession through the effects on the manufacturing and service provision for the people, places and institutions. He maintained that the growth and otherwise are primarily self-inflict. The styles and the attitudes to public offices, to him by the revelations of his studies, play determinant role in the building of flagging economic situation. The author employed the use of explicable illustrations and analogies that aptly explain what recession means even to a lay man on the streets not to talk of the students, administrators, people of different professional leanings and socio-economic researchers including the best way to tackle each of the recession-hit nations signs headlong.

Without doubt, recession is a sign of declining economy whose signs are dangerous against the nation and investments if left unchecked. The scourge of the lagging economy affects both the micro and macro economy. Investments liquidated by the insolvency as a result of dwindling sales as the target consumers are poorer than before in the wake of spiral inflation.

In view of the negative traits, vices and corruption become the order of the day. Advisors opinions are different especially when the forex earning from exports dropped. Some are of the view that the government should sell assets or borrow to fund projects especially deficit social infrastructures. Others held the belief that a government whose debts have outgrown the revenue should look inward instead of borrowing. Some are of the position of borrowing only to sustain projects that would sustain themselves and payback the loans. The professional associations are not left out proffering solutions to the economic downturn. Agricultural-based practitioners held the mindset that massive investment in agriculture sector would save the nation from recession. The built sector claimed the same. The financial sector sees itself as the solution to eliminate the scourge of recession. All these views, author Amusa abdulateef critically analysed in the book.

In order to throw in confusion, the independent economic analysts and those of the think tanks working outside the corridors of power become more vocal in the print and electronic media to throw the government out of balance with their strange economic policies. By this, they are glad rubbishing the national intelligence economic team (NEIC) inputs to make success of their policies. The former may be doing so by dancing to the tunes of the opposition party to destabilize the government or to attract undue attention from the government in order to join in the benefiting of the paraphernalia of offices.

As the situations get worsen and the trial and error of policies, a nationalist who is a socio-economic researcher and economic think tank who have done the researches to unearth the practicable solutions should come up with the solutions before the ship is sink permanently. And this is the position of the contents in this research-based book.

In the book, the causes and the trending of the economic downturn were critically looked into; there were propounded THIRTEEN laws for the recession to become a thing of the past; the book treated the frequently questions and answers in the ‘experts and think tank’ session; there are relationship between recession and issues like single treasury account, economic policies, business environment among others; author Amusa Abdulateef also shared the solutions from different point of views of professionals from different professional leanings before the critically analysed solutions to solve the problems of the economic scourge. The solutions of the dreadful recession could be a thing of the past within a few months. The readers and other users like the economic think tanks, financial analyst, the leaders, the socio-economic researchers among the rest shall find the contents of the book written in simple lucid English very helpful to nip the ill by the bud.

The author, Amusa Abdulateef, believes that every nation has innate potentials to be great economically at individual pace especially if the comparative cost advantage is recognized and consistent economic policies that would create enabling environment are focused.

In general view, all nations depend on one another as producers and consumers, exporting and importing nations. Through bilateral and multilateral pacts, they trade among themselves to earn forex to shore up external reserves, stabilize forex policy, build deficit infrastructures and transfer technologies. If a nation has economic problem, it affects the others. Imagine what happens to the neighbouring nations in West and East Africa when Nigeria suffers from recession. The scourge must be eliminated. Leaders at the helms need independent think tanks that could add values to the national intelligence economic team. Author Amusa Abdulateef therefore focused his research on Nigeria as the biggest economy in Africa and one of the biggest in the world. If the economy of Nigeria is in good shape, the migrant pressure on the advanced world shall go south and the high rate of trans- border crimes would be a thing of the past. The proffered solutions for the users shall deal a great blow to the bad shape of the economy within a few months. If the solutions could turn around the economic situation in Nigeria with its nature of business environment and the characters of the stakeholders, it shall work for all nations all over the world.

In conclusion, aside the contents flavoured with anecdotes, analogies and first-hand experience in the course of carrying out the researches, the specimens of proposals to the federal and state governments in Nigeria could be domiciled by the other nations to ease out of economic downturn in any form. Candidly speaking, the contents from the first to the last page of the book serve as irresistible guide to economic growth and development for all nations that adopt its guide to promote the local content and spread the wealth. What does it take? Get your copy and meditate over each chapter. Then, act what you have read!

Title:Economic recession, the trends, the spiral effects and the practicable solutions: a Nigeria case…Format:Kobo ebookPublished:May 8, 2017Publisher:amusa-abdulateef.comLanguage:English

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