This Is Gonna Hurt: But You Need It

"Prepare For Austerity And Hardship". - Buhari Tells Nigerians.

President Muhammadu Buhari has admitted administrative measures put in place within his five months in power have kIlled  businesses in Nigeria.
Buhari made this known in New Delhi, India. To him, the measures that would in the long term hold the economic
growth of the nation.
“We are aware some of these measures may hurt operations of some businesses in the short term, but we believe they are right for a sustainable economy,” the President said.
Although Buhari has not shown any coherent economic direction since the inception of his government, it is believed that more sectors are bound to suffer imminently.
In particular the Banking Sector is crumbling because of over regulations. This sector has hurt for the past months as a result of the implementation of the Treasury Single Account, TSA.
Commercial banks have been mandated to sweep up government funds from every nook and cranny of all Government Ministries, Departments, and Agencies into a central Vault. The move has sparked job losses at these banks.


Zenith Bank PLC sacked no fewer than 1,200 employees from different branches across the country with eight General Manager sand 40 Assistant General Managers in the number.
Access Bank PLC sacked over 1,600 of its workers across the nation, while Main street Bank, one of the three nationalized banks layed off over 400 of its workers for similar reasons.
Construction companies are dead because the 2015 budget only allocated $2bIllion for capital projects. As new contracts are not issued,most companies just closed shop..

Both Federal and State Governments are heavily indebted to various construction companIes.
The China Civil Engineering and Construction Corporation, CCECC, responsible for the Lagos Blue Line Light Rail, project were reported to have sacked at least 500 workers.
Famous multinational construction giant Julius Berger after sacking thousands last year, barely four months ago planned to dismiss 5% of its current workforce although the National Industrial Court of Nigeria, NICN, in Abuja under presiding judge, M. N. Esowe, ordered the company not to do so.
Julius Berger’s debt profile amounts to N90billion asides the over N34 billion borrowed from commercial banks.

More companies stationed within Nigeria have begun to seek relocation

Most threatening is the high inflation rate that has maimed the country and according to the Nigerian Bureau of Statistics, NBS, who quoted Consumer Price Index, CPI, which measures inflation, “The largest increases were recorded in books and stationery, textiles, glassware, tableware and household utensils; and shoes as well as other footwear groups.”

Like the president said, and a lot of his voters agree, it wIll take tIme.

There is a prepositional clause that helps Nigerians deal with problems: It is well.
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