Nigeria's recession Archives - Voice of Liberty NG

Nigeria risks 3rd recession in 7yrs, NACCIMA warns FG

May 1, 2022May 1, 2022 Aminu Imam

The Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture, (NACCIMA), has called on the Federal Government to urgently implement policies to prevent Nigeria from falling into a third recession by the end of 2022, noting that the declining trend in the nation�s economic growth is worrisome. The National President, NACCIMA, Ide J. C. Udeagbala, gave the warning yesterday, in Lagos, at a press briefing to review the state of the economy and NACCIMA�s position on issues and policies. Recall that Nigeria recorded a recession in 2016, followed by…

‘Nigeria is out of recession but Nigerians are still in recession’ – Report

December 7, 2021December 7, 2021 Aminu Imam

It has been reported over time that Nigeria�s economic growth is witnessing a significant turnaround but this assertion largely remains questionable as both empirical and numerical facts say otherwise. This, according to experts, implies that beyond face value growth, the government needs to embark on massive economic reforms by employing the best capable hands; more expansionary fiscal and monetary policies need to be put in place to attract investment and the government should be bold enough to embark on massive economic reform through fiscal federalism. Recall that the Federal Government’s…

Nigeria�s economy exits recession as GDP grows by 0.11% in Q4 2020 – NBS

February 19, 2021February 19, 2021 Aminu Imam

…GDP contracts by 1.92% Nigeria�s Gross Domestic Product (GDP) grew by 0.11% (year-on-year) in real terms in the fourth quarter of 2020, representing the first positive quarterly growth in the last three quarters. This is contained in the Nigerian Gross Domestic Product report, published yesterday by the National Bureau of Statistics (NBS). The growth was driven largely by positive growth recorded in the information and communication sector (15.9%) and agriculture (3.42%). The NBS further said that the country’s Gross Domestic Product (GDP) contracted by 1.92% in real terms in 2020,…