Nigeria Heads Towards Another Economic Recession - Finance Minister

The finance minister, Hajia Zainab Shamsuna Ahmed has said the Nigeria's economy is headed towards a recession judging by the current data obtained from the Nigeria Bureau of Statistics (NBS).

Speaking to news men on Thursday,May 21, shortly after the National Economic Council (NEC) meeting. Zainab Ahmed said the current data showed that the economy would go into recession at an average of - 4.4 per %. She also said that the federal government is doing everything possible to reduce the impact of the recession wouod have on Nigerians.

It could be recalled that the last time the country entered the recession was in 2016. A country’s economy goes into recession when its Gross Domestic Product (GDP) reduces for two consecutive quarters.


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