Averting Looming Recession Through Monetary Stimulus   The economy was yet to fully recover from the 2014 oil price shock, followed by the 2016 economic recession, and now on the brink of another plunge on account of the effects of the novel coronavirus (COVID-19) pandemic. Recession is...

W/Bank Predicts Nigeria’s Descent Into Recession     The Minister of Finance, Mrs. Zainab Ahmed has said that the World Bank country director in Nigeria who was invited to the National Economic Council (NEC) meeting, held in the State House yesterday told the council about the bank’s...

417,000bpd Oil Cut’ll Deepen Nigeria’s Recession - Fitch   A global credit ratings agency, Fitch Ratings, has said Nigeria’s compliance with the oil production cut deal led by the Organisation of Petroleum Exporting Countries will lead to deeper economic contraction and fiscal deficits. It also said the...

Nigeria’s COVID-19 Management To Determine Level Of Recession – W/Bank   Following the outbreak of COVID-19 in Nigeria, it has been projected that the three tiers of government could lose more than N2tn in revenues. Giving this huge revenue deficit, the World Bank says the extent...

Coronavirus Plunges World Economy Into Brutal Recession Measures imposed to slow the spread of the coronavirus are pushing the world economy into a recession deeper and more painful than initially expected, even if a rebound is still on the cards for next year. A week before...

COVID-19: Expect Recession Worse Than 2008 Global Crisis – IMF   The International Monetary Fund has said the global economy will slide into a recession that is “at least as bad as during the global financial crisis or worse” this year on the back of the...