Nigeria’s impending economic recession has in recent times become a hot topic with varying opinions. Just for the record, economic recession is a period of general economic decline and is typically accompanied by a drop in the stock market, an increase in unemployment, and a decline in the housing market. Generally, a recession is less severe than a depression.

Recent report from the International Monetary Fund’s (IMF) forecast that Nigeria’s economy would probably contract by 1.8 per cent in 2016. The IMF forecast says Nigerian economy will now grow at a much slower pace than South Africa’s, which is expected to grow at 0.1 per cent in 2016.

Following the above prediction by IMF, some economists has weighed in on the subject matter with differing opinions, an economist, Prof. Ben Aigbokhan, has predicted that Nigeria’s economy would recover from depression as soon as possible with the measures being put in place by President Muhammadu Buhari.

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http://www.financialwatchngr.com/2016/07/29/nigerias-looming-recession-look-positive-effects/

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