Bayelsa State Governor, Seriake Dickson has warned that Nigeria may witness another recession in the coming days if the trend in its economic indicators are not checked.

He further warned that with crude production and it price in the international market skyrocketing there was no reason for dwindling revenues accruing to the States.

The Chairman of the Peoples Democratic Party (PDP) Governors’ Forum gave this warning today while addressing a stakeholders’ meeting in Yenagoa, the State capital.

“The economy is so terrible. We are praying that the country doesn’t go into another recession with the way they are going. Crude oil is being produced; the quantity is high and the price is even better.

He also raised alarm over the gradual decline of revenue accruing to the States, especially, Bayelsa State from the Federation Account.

He said the state’s earnings for March alone was more than N3bn less in spite of the increase in crude oil price.

“Since January your allocation has been going down. In January we had a shortfall of over N1bn, in February it was N2bn and we recorded a shortfall of N3bn in March. That is what we are going through. Throughout this year, your government has actually been in the red”, he said.