Economic Recession may last 20 years- Jimoh Ibrahim

Businessman and Ondo governorship aspirant, Jimoh Ibrahim, has warned that the current economic recession facing Nigeria may last for another 20 years if the global oil price continues in its downward trend.

Mr. Ibrahim gave the warning yesterday at the launch of the book, Worshipper In the Temple of Justice, organised in honour of emeritus professor of law, David Ijalaye, at the Oduduwa Hall of the Obafemi Awolowo University.

“With the current crude oil prices and current situation of the country, except there is a miracle that will chance the situation, we may be experiencing this recession for 20 years,” he said.

“Our Naira has lost its value and this is the worst recession I have seen in many years and nothing seems to be happening.”

Mr. Ibrahim recommended that Nigeria adopts the economic model of Iran in order to record meaningful development.