Nigeria To Experience Worse Recession In 31 Years – IMF
April 14, 2020
1:04 pm
The International Monetary Fund, IMF has projected that Nigeria’s economy will face the worst recession in 30 years.
IMF stated further that Nigeria’s economy will recede by 3% in 2020 due to the Coronavirus pandemic, which has disrupted global supply chains.
It noted that this would be the worst recession in 30 years for the West African giant after a negative economic growth of 1.51% in 2016.
Recall that Nigeria’s economy receded in 1987, by -10.87 and -0.6 in 1991.
The projection was part of IMF’s April 2020 World Economic Outlook report
