“I laugh when I hear people say the recession will soon end. This is not true. A critical analysis of the 2017 budget will show you that the recession will not end soon,” Obi said according to Punch.

“But there is hope. The hope is for us to change our spending system. Government should cut down the cost of running government.

“If you see any government spending extravagantly, you shout and nothing will happen to you because it is your money that is being spent. That is one of the ways to tackle this recession,” he added.

President Muhammadu Buhari and Finance Minister, Kemi Adeosun had earlier said that the economic crisis would be resolved in 2017.