COVID_19: Nigeria May Slide Into Recession In 6 Month- Zainab Ahmed

The Nigerian economy may slide into recession if the coronavirus pandemic continues for the next six months.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, gave this warning when she appeared on Channels Television’s Politics Today.

Speaking on steps taken by the government to manage the impact of the pandemic on the nation’s economy, Ahmed said“We are hopeful that this pandemic will be limited in time.”

According to her the country’s economy should close on a positive at the end of 2020 If the virus only last for an average of three months.

“But if it goes longer than that – six months, one year – we will go into recession.”

Meanwhile the International Monetary Fund(IMF) had said the global economy has entered recession over the ravaging impact of the COVID-19 on different countries.

The Managing Director, IMF, Kristalina Georgieva, noted that no fewer than 80 countries had approached the Fund for help.