It is not the best of time for manufacturers and artisans in Anambra State in southeast Nigeria, as they lament the harsh economic realities hitting them hard in their various fields.
For the manufacturers, Nigeria has reached the economic stage that demands immediate intervention from any quarter both internal and external, as they could no longer thrive in the fields.
Mr Ken Mmaduakor is into bottled and Sachet water production.
He said previously, the production capacity was 1,500 cartons of 12 bottles each per day but presently, the production capacity had dropped to 300 cartons and workers, in order to continue being useful to themselves, suggested taking slashed salary instead of being laid off completely.
The artisans in Onitsha and Nnewi say they are facing severe and austere period.
Their working tools lie useless with shrunk fingers bearing tell-tale signs of years of hard work with almost nothing to show for it.
For them, the present situation is death itself, as they are willing to work and fend for themselves yet the system that should support them denies them the opportunity.
Every appeal is for the government to urgently come up with ideas that will engender a total reversal of the current situation of things for a happier, prosperous and peaceful Nigeria.
Nigeria’s economy had glided into recession, with figures from the National Bureau of Statistics showing that Nigeria’s Gross Domestic Product (GDP) contracted by 2.06% in the second quarter of 2016
According to the report, the decline has caused the Naira to get weaker while lower oil prices have continued dragged the oil sector down.
The nation depends largely on crude oil for its revenue, but the present government is making efforts to shift the economy away from crude oil to other sectors – agriculture, solid mineral mining and technology among others.