The Minister of Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed has said the country will exit recession by the first quarter of 2021.
Ahmed said this at the ongoing 26th Nigerian Economic Summit organised by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, and National Planning, where she spoke about the current situation of the country.
Recall that the Giant of Africa which used to be Africa’s largest oil exporting country, on Saturday, slid its second downturn in five years as the Gross Domestic Product (GDP) fell for the second consecutive quarter. This is said to be the nation’s worse downturn since 1987. Read also: Second Recession Proves Buhari’s Incompetence – PDP
The Finance Minister explained that the COVID-19-induced recession followed the pattern across the world where many countries had entered an economic recession. “Nigeria is not alone in this, but I will say that Nigeria has outperformed all of these economies in terms of the record of a negative growth”, she said.
