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Tag Archives: Recession

May, 2020

  • 22 May

    Nigeria’s Economy Heading Towards Recession – Ahmed

    Finance Minister

    Zainab Ahmed, Minister of Finance, Budget and National Planning, has said the country’s economy is heading towards a recession. Read Also: Inflation Rises To 12.34% In April – NBS Ahmed stated this when she briefed journalists after the National Economic Council (NEC) meeting in Abuja on Thursday. The minister explained that …

April, 2020

  • 14 April

    COVID-19 May Lead To Worst Global Recession Since 1930s – IMF

    The International Monetary Fund (IMF) has said the novel Coronavirus (COVID-19) pandemic may plunge the global economy to its worst recession since the Great Depression of the 1930s. Read Also: Amala Doesn’t Cure COVID-19, Kwara Tells Residents Gita Gopinath, the IMF’s chief economist, while providing the organisation’s 2020 World Economic Outlook …

March, 2020

September, 2018

  • 26 September

    Why Nigeria May Slip Back Into Recession – CBN Gov

    Emefiele-forex market

    Godwin Emefiele, governor of the Central Bank of Nigeria, CBN has warned that Nigeria may likely slip back to recession due to the weak economic fundamentals currently being shown by the economy. Nigeria exited recession in 2017 after suffering contraction for five consecutive quarters. Speaking to newsmen after the two-day meeting …

  • 4 September

    South Africa Slips Into Recession

    South African economy is currently experiencing its first technical recession since 2009 after gross domestic product contracted 0.7 percent in the second quarter. This was after first quarter 2.2 percent decline was revised upwards to 2.6 percent, with Ramaphoria now firmly in the water. The country last witnessed recession during the …

August, 2018

  • 27 August

    Nigeria Records First Strong GDP Growth After Recession

    The Nigerian Bureau of Statistics, NBS, has reported that for the first time since Nigeria’s exit from recession, the Gross Domestic Product, GDP, has recorded growth. Driven by the non-oil sector, GDP which grew by 2.05 per cent in the second quarters of 2018 represented the strongest growth in non-oil …

September, 2017

  • 7 September

    Nigeria Not Out Of Recession – Fayose

    Fayose speaking

    Ayodele Fayose, Ekiti State Governor, has said the claims by the Nigerian Bureau of Statistics that Nigeria is out of recession are lies. He said he would not believe the claims until a bag of rice becomes N7,000 per bag, petrol becomes N87 per litre and dollar becomes N197 as …

  • 7 September

    Nigerians Won’t Feel Effect Of Economic Recovery Now – NBS

    Yemi Kale, chief executive officer, National Bureau of Statistics, NBS, has said Nigerians may not immediately feel the effect of coming out of recession. Kale, the Statistician-General of the Federation, made the statement in Abuja on Wednesday at a news conference. “There is a different stage Nigeria must go through before …

  • 5 September

    Senate Rues High Unemployment, Food Prices Despite Economic Recovery

      The Nigerian Senate has bemoaned high unemployment rate and increasing prices of food despite the country’s recovery from recession. “The rising unemployment in the country is an issue that is of much concern to all of us. Additionally, the rising cost of food prices and basic services in the …

  • 5 September

    Nigeria Has Overcome Recession – NBS

        The National Bureau of Statistics, NBS, says that the Nigerian economy has officially exited recession. According to a report obtained from NBS, which is due to be formally released Tuesday morning, the growth rate for second quarter of 2017, which is 0.55 per cent (year-on-year) was 2.04 per …

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