Tag: Looming recession

Nigerias economy teeters on the verge of recession

Ishaku Yohanna

Recession knocks on the door of Nigeria with pain and misery starring the people in the face as foreign-currency shortage is squeezing life out of Africas biggest economy as in 2015. According to Bloomberg Banks wont honor card payments, foreign investors cant get their money out and manufacturers are unable to import vital raw materials as output hurtles toward a second contraction in four years. Also, BusinessDay said its investigations show that emerging GDP data for Q2 point to an inevitable economic contraction of frightening proportions. And as was the…

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Coronavirus: Economic expert urges FG to explore Block-chain option to avert looming recession

Ishaku Yohanna

By Anthony Momodu An economic expert, Amos Sewanu Omotade-Sparks, has urged the Federal government to engage more in economic diversification as a panacea to the dwindling economic climate occasioned by the rampaging Coronavirus pandemic. Omotade-Sparks, who is the President of InksNation DAO Foundation, spoke in an interview in Abuja and said the time has come for Nigerians and Nigeria to expand their frontiers of financial opportunities in a bid to avert looming recession. He submitted that Block-chain economy has now emerged as a digital solution around the globe capable of turning…

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