Tuesday, 5 July 2016

Too many public holidays killing economy--Environment Track Editorial

For a country that is in deep economic crises , one wonders the rationale behind the Buhari government's culture of converting many productive days to public holidays.

With the extension of the Sallah holiday to Thursday , it would now be three days the government has shutdown economic activities in the country for one celebration.

Before now, public holidays were granted for Easter Celebration,  Big Sallah  and others, even as opportunities still lie ahead for the declaration of more public holidays.

Many have criticized  the government for not doing enough to save  the weak economy which has plunged into recession.

Nigeria's economy ,dependent on oil revenue has been shattered as oil price fell flat to about 40 dollars per barrel of crude.

The 2016 budget estimated at benchmark of 2.2 million barrels of crude Oil production per day and price of 38 dollars per barrel ,is in deficit with the accelerated unrest in the Niger Delta region which has slowed down production.

Institutions in the country should work to save economy.




 

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