The International Monetary Funds (IMF) predicted in 2015 that Nigeria’s economy will slide into a recession in 2016 by 1.8 per cent. The forecast indicated that our economy will grow at a much slower pace than South Africa’s. Months after the prediction, truly Nigeria slipped into a recession. Everywhere around the world, recession is one of the most dreaded economic downturns. The reasons – although not far-fetched – include, but not limited to, drop in stock market, hike in unemployment, salary cuts in most private establishments and monumental decline in housing market.

http://skytrendnews.com/2016/09/23/economic-slump-will-grow-hospitality/