NIGERIA OFFICIALLY SLIDES INTO WORST ECONOMIC RECESSION SINCE 1987
Reports indicate that Nigeria has officially gone into its worst economic recession since 1987.
According to a statement released by the National Bureau of Statistics on Saturday, November 21, Nigeria recorded a decline of 3.62 percent in the third quarter of 2020.
This is the second consecutive quarterly GDP decline since the recession of 2016.
The last time Nigeria recorded this cumulative GDP was in 1987 when its GDP declined by 10.8 percent.
According to the NBS, this is also the second recession under the President Buhari regime.