Nigeria Will Exit Recession Soon - Minister of Finance, Zainab Ahmed

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said Nigeria will be out of the recession soon. Over the weekend, Nigeria slid into its worst economic recession in over three decades. Gross domestic product (GDP) numbers released by the National Bureau of Statistics on Saturday, November 21, indicates the nation recorded a contraction of 3.62 percent in the third quarter of 2020, causing it to slide into another recession. While speaking at the ongoing 26th Nigerian Economic Summit organized by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, and National Planning, on Monday, November 23, the Minister of Finance said the country would emerge from the recession in the fourth quarter of 2020 or by the first quarter of 2021. She blamed the recession on the global Coronavirus pandemic which has forced other economies in other countries into recession. Ahmed said other countries also in recession, including the United Kingdom, the

Governor Suspends ASUU Chairman

Ebonyi state Governor, David Umahi, has suspended the chairman of the Academic Staff Union of Universities (ASUU), Ebonyi State University (EBSU) chapter, Prof. Ndubuisi Idenyi, his predecessor, Prof. Emeka Nwakpor, for alleged gross misconduct.

The governor disclosed this on Wednesday in Abakaliki during a radio programme when asked about the ongoing ASUU strike in the university.

According to the governor, both union leaders misinformed lecturers.........
in the university on what transpired at the meeting they held with him on Monday over the strike.

“They politicalized the strike by misinforming the lecturers which is detrimental to the students.
“I, however, urge the lecturers to immediately call off the strike, as we will adopt the ‘no work no pay’ if they refused to heed to my call,” he said.
The governor also announced the termination of the appointment of the school Bursar, Chris Ngwuta, with immediate effect.
“I took the decision to terminate the appointment because he was re-appointed without following due process.
“He was reappointed for a second tenure by the school management without recourse to myself who is the university’s visitor and the state governor; contrary to the laws enacted by the State House of Assembly.
“When I asked the school management, they said he was only re-appointed and that the re-appointment is normally done through the school senate and management.
”I, however, disagreed with this assertion because re-appointment is also a form of appointment and since the visitor made the first appointment, he should also be informed and his accent sought for his re-appointment.
“The enabling law talks about appointment and only mentioned re-appointment once,” he said.

The governor directed the freezing of the accounts of the school until the lecturers resume duties and also announced the withholding of government’s subventions to the university.
He, however, promised the lecturers that a committee has been set up by the government to look into their demands.
It was gathered that the union embarked on the strike to demand the release of the 2014 professorial promotion and 2015 promotion of other cadres of academic staff.
The union is also protesting against the reduction of their monthly salaries by the state government.