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Senator Ben Bruce Explains Why Nigeria Is In A Recession

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Ben Bruce, lawmaker representing Bayelsa central senatorial district, says the “hurried implementation” of the Treasury Single Account (TSA) may be one of the reasons the country is in economic recession.

Taking to Twitter on Thursday, Bruce said: “Nobody locks up money in a vault in a recession. In fact, the hurried implementation of TSA may be part of the reason we are in a recession.”

He added: “We must make it easier, not more difficult, for business to obtain credit.”

He said Nigeria’s current interest rate is ridiculous for a country in recession.

“Now that we have found ourselves in a recession, we must do the commonsensical thing to do and spend our way out of the recession.”

Nobody locks up money in a vault in a recession! In fact, the hurried implementation of TSA may be part of the reason we are in a recession.

— Ben Murray-Bruce (@benmurraybruce) September 8, 2016

We must make it easier, not more difficult for business to obtain credit. Our current interest rate is ridiculous for a nation in recession!

— Ben Murray-Bruce (@benmurraybruce) September 8, 2016

Now that we have found ourselves in a recession, we must do the commonsensical thing to do and spend our way out of the recession.

— Ben Murray-Bruce (@benmurraybruce) September 8, 2016

We politicize everything in Nigeria. It is our undoing because the economy should bow to politics, politics should not bow to the economy!

— Ben Murray-Bruce (@benmurraybruce) September 8, 2016

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