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Nigeria’s economy will definitely go into recession – Finance Minister

Minister of Finance, Zainab Ahmed has disclosed that an assessment by the Nigeria Bureau of Statistics indicates that Nigeria’s economy will go into a recession at an average of -4.4 per cent .

Ahmed spoke while addressing journalists after the National Economic Council meeting on Thursday.

“The National Bureau of Statistics (NBS) has made an assessment. So, it is the NBS assessment that Nigeria will go into a recession measuring at an average of -4.4%.

“But with the work that the Economic Accessibility Committee is doing bringing stimulus packages, we believe that we can reduce the impact of that recession.

“And if we applied all that have been proposed and we are able to implement it we may end up with a recession that is -0.4 per cent. In any case, we will go into recession but what we are trying to do is to make sure that it is shallow so that we will quickly come out of it come 2021,” the Minister said.

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