The World Bank has revealed two key factors that may plunge Nigeria into a severe economic recession the worst since the 1980s: Covid-19 and drop in oil prices.
The latest CPI/Inflation report from the National Bureau of Statistics indicates Nigeria's inflation increased by 12.34% in April 2020 from 12.26% in March 2020
The finance minister, Zainab Ahmed, has said Nigeria’s economy will go into a recession based on the current assessment by the Nigeria Bureau of Statistics.
Haka zalika gwamnatin ta soke wasu manyan ayyuka da take shirin gudanarwa tare da rage kudin wasu ayyukan duk domin cimma wannan manufa da ta sanya a gaba.
The International Monetary Fund (IMF) has projected negative growth for the Nigerian economy, indicating a recession in the country, following COVID-19 issue.
Kristalina Georgieva, the chairperson and managing director of the International Monetary Fund has confirmed the fears of top players in the global market.