Providing the antidote to current economic recession

SCORES of Nigerians are currently wallowing in economic recession as a result of inflation, growing unemployment, debilitating poverty and a huge lack of leadership.

Hence, many citizens have resorted to odd means of getting money to face the myriad of wants that they are daily faced with. Armed robbery, ritual killings and allied dehumanizing means of getting money are the resultant effects of the nation’s declining economy.

Unfortunately also, there are many micro-finance banks that have not been forthcoming with loans to those who would borrow and when they do, the interest rates are paralysing.

Therefore, the only solution is that the government must ensure the promotion of co-operative societies so as to provide support base both for civil servants and those in the private sector.

The regulations should be able to allow these societies thrive.  The loan interest rate should be single digit and should therefore be readily be accessible. All the co-operative colleges should be upgraded and farmers should not be left out.

Lasun Azeez: 08066186686