Thursday, November 26, 2020
Home News Politics Nigeria Officially Slides Into Worst Recession Since 1987

Nigeria Officially Slides Into Worst Recession Since 1987

Nigeria is hit by the worst recession since 1987 According to gross domestic product numbers released by the National Bureau of Statistics on Saturday, 21 November 2020.

According to the statistics, the nation recorded a contraction of 3.62 percent in the third quarter of 2020, making it the second consecutive quarterly GDP decline since the recession of 2016.

The cumulative GDP for the first nine months of 2020, therefore, stood at -2.48 percent. The last time Nigeria recorded such cummulative GDP was in 1987, when GDP declined by 10.8 percent.

Related Posts

Freshrepoters have confidently observed that this is the second recession under President Muhamadu Buhari’s democratic reign and his fourth as head of state.


DISCLAIMER

For publication of your news content, articles, videos or any other news worthy materials, please send a mail to thefreshrepo[email protected]

For Advert and other info, you can call +2348084076066 or send a WhatsApp Message to +2347050565443


Join thousands of readers to receive daily Latest News:

Freshreporters telegram groupJoin our Telegram Group

Freshreporters Facebook pageLike our Facebook Page

Freshreporters WhatsApp groupJoin our WhatsApp Group

Freshreporters twitter pageFollow Us on Twitter

Freshreporters Facebook pageJoin Our FACEBOOK GROUP

Freshreporters Instagram pageFollow Us on Instagram

Freshreporters YouTube channelSubscribe to our YouTube Channel

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Viewed news

Former President Goodluck Jonathan Gets New Appointment

Former Nigerian president, Goodluck Ebele Jonathan has been appointed by the Economic Community of West African States, ECOWAS, as a special envoy to lead...

Gokada Founder, Fahim Saleh Found Decapitated Next To Electric Saw.

33-year-old, Fahim Saleh, a millionaire tech CEO known as the "Elon Musk of the developing world" is dead

VIDEO: COVID-19 Might Be Airborne, Wear Face Masks – NCDC Boss Warns Nigerians

The director-general of Nigeria Centre for Disease Control, NCDC, Dr Chikwe Ihekweazu, says there are possibilities that coronavirus (COVID-19) can be transmitted through the...

Watch Moment A Dead Man Was Forced Out Of Casket After Refusing To Be Taken Home For Burial

A funny but yet a terrifying moment saw a corpse in Anambra state was forced out of a casket after allegedly refusing to be...