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Tag: Recession

As Nigeria Slides Into Another Recession

As Nigeria Slides Into Another Recession

Fact Channel
Just when Nigerians thought they have seen it all having experienced the worst form of post-independence democracy, then came a troubling news that the most populous country in Africa has slipped into a second economic recession in five years and, also its worst economic decline in four decades.For the records, recession is a period of temporary economic decline during which trade and industrial activities are reduced, generally identified by a fall in Gross Domestic Product (GDP) in two successive quarters. Recession, no doubt, portends danger for our nascent democracy and economy, and it is something that no country can wish for, especially in this post covid-19 era, having battled the pandemic that have resulted to the deaths of millions of people across the globe and crippling of e...