Nigeria threatens Ghana’s post-COVID-19 economic recovery – Jackson

0
24

An investment advisor and economist, Mr Joe Jackson, has noted that oil-producing West African nation, Nigeria, will threaten Ghana’s post COVID-19 economic renaissance.

He noted that Nigeria will not be able to deal with the effect of the COVID-19 on its economy especially the oil industry, immediately after the pandemic.

This situation, he said, is likely to throw the country into chaos and anarchy because of joblessness.

The Director of Operations at Dalex Finance also noted that, many Nigerians will then be forced to migrate to Ghana to seek greener pastures, adding that this will no doubt strain Ghana’s economy and possibly thwart efforts by Ghanaian authorities to rebuild the economy after the pandemic.

“Nigeria poses a huge risk to Ghana’s post-COVID-19 economic recovery,” Mr Jackson tweeted.

He added : “The collapse of oil prices, slow response to COVID-19, and an ailing health system could tip Nigeria into widespread civil unrest and terrorism.

“The nightmare scenario could cause massive migration to Ghana.

Meanwhile, Ghana’s Minister of Finance, Mr Ken Ofori-Atta has noted that it may take up to three years for the Ghanaian economy to recover from the impact of the coronavirus (COVID-19) pandemic.

He urged that debt aid by lenders such as the World Bank and International Monetary Fund (IMF) is imperative for any recovery programme.

“A U-shaped recovery is touted, but ours will likely be a steep drop, then a two- to three-year downward slide before a recovery; a trapezoid-shaped recovery!,” Mr. Ofori-Atta said in an article published in the Financial Times.

Source: Laudbusiness.com/Ghana

LEAVE A REPLY

Please enter your comment!
Please enter your name here