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Nigeria Heading Into Worst Recession In 30 Years –IMF - Politics - Nairaland

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Nigeria Heading Into Worst Recession In 30 Years –IMF by Omooba77: 4:53pm On Apr 14, 2020
The International Monetary Fund on Tuesday said that Nigeria could be heading for its worst recession in three decades.

The economic downturn is one of the effects of the Coronavirus pandemic predicted by experts around the world.

According to the IMF, Nigeria’s economy will drop by 3.4 per cent in 2020 as a result of the COVID-19 pandemic.

The international organisation made the projection in its April 2020 World Economic Outlook report released on Tuesday in Washington, United States.

IMF Chief Economist and Director of Research Department, Gita Gopinath, said, “For the first time since the Great Depression, both the advanced economies and emerging and developing economies are in a recession.

“For 2020, growth in advanced economies is projected at -6 per cent. Emerging markets and developing economies which typically have normal growth levels well above advanced economies are also projected to have negative growth of -1 per cent and -2.2 per cent if you exclude China.”

The Nigerian economy is however, projected to bounce back by 2.4 per cent in 2021.

http://saharareporters.com/2020/04/14/nigeria-heading-worst-recession-30-years-%E2%80%93imf

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by hahn(m): 4:55pm On Apr 14, 2020
We are always in a recession

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by flokii: 4:55pm On Apr 14, 2020
Exactly my fear..

The brilliant and sound ones that laid the ground work sustaining the country till date have been removed and replaced out of partisan politics.

Hopefully Nigeria will survive what is coming

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by SarkinYarki: 4:56pm On Apr 14, 2020
No suprises Buhari is the worst Nigerian leader in the last 30 years , and ironically the worst leader 30 years ago was still the same Buhari ..God Punish all of those that enabled failure in 2019 !!!!

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by StreetFight: 4:57pm On Apr 14, 2020
hahn:
We are always in a recession

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Nobody: 4:57pm On Apr 14, 2020
The road has never been better.
Please read and share this:
https://www.nairaland.com/5784418/want-see-again

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Nobody: 5:02pm On Apr 14, 2020
With the way these World Organizations are Intrested in Nigeria these days.... I Suspect something..

There is a Target!

I Suspect all these concerns are Connected to a Vaccine!

I Believe that the Belief is that once Nigeria is gotten , any other African nation will fall in..

Nigeria is Respected and Feared not because of our Economy or leaders!

Nigeria is Feared because Nigeria is a Spiritual Heavy Weight!

Only very few will understand these things!

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by slimfit1(m): 5:03pm On Apr 14, 2020
At this stage, I feel sorry for people showing off their wealth unnecessarily.

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Finnese001: 5:29pm On Apr 14, 2020
their business
Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Omooba77: 5:33pm On Apr 14, 2020
slimfit1:
At this stage, I feel sorry for people showing off their wealth unnecessarily.


Our politicians we realise too late that money is useless when confronted by angry and hungered.

We will come out of recession, but the effect may affect many people.
Lalasticlala

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Omooba77: 5:34pm On Apr 14, 2020
[quote author=StreetFight post=88440675][/quote] You are still living in the past

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Ventura1: 5:35pm On Apr 14, 2020
Expected, let's just hope it doesn't fall into depression.

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Omooba77: 5:42pm On Apr 14, 2020
Ventura1:
Expected, let's just hope it doesn't fall into depression.

After Covid19 our lives will not remain same again

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Seun(m): 5:46pm On Apr 14, 2020
Is it the Coronavirus that will cause the recession or our government’s approach to fighting the virus, as advised by experts in the same category as the ones predicting a bleak future for us?

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Corrinthians(m): 5:50pm On Apr 14, 2020
Seun:
Is it the Coronavirus that will cause the recession or our government’s simplistic approach to fighting the virus, as advised by the experts?
The government is helpless in the current situation.

Nevertheless, if the impact of the pandemic does not get as bad as predicted for the West and other trade partners of Nigeria then we might not be caught in as bad a situation as predicted by the IMF.

So, as much as we hope and pray for our nation, so must we also for those we depend on for imports and exports. We need them to remain healthy for our government to remain solvent. Imagine the downward trend continues in the US, the blowback on the world economy would be catastrophic, especially for developing and third world countries. NGOs which employ our friends and families would become part of the first casualties. As funding gets slashed for them, so would their workforce.

The scariest of all is the current price of oil at the international market. It portends grave danger for our economy.

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Omooba77: 5:51pm On Apr 14, 2020
Seun:
Is it the Coronavirus that will cause the recession or our government’s approach to fighting the virus, as adviced by experts in the same category as the ones predicting a bleak future for us?

Law of demand and supply

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Omooba77: 5:51pm On Apr 14, 2020
Seun:
Is it the Coronavirus that will cause the recession or our government’s approach to fighting the virus, as adviced by experts in the same category as the ones predicting a bleak future for us?

Law of demand and supply. After Covid19, there will be too many products and few buyers. Our major product is oil and many industries that uses it may not start full production.

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by mcmbonu: 5:55pm On Apr 14, 2020
God help us.
Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by SwacoBlackPope: 5:58pm On Apr 14, 2020
God help us
Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by johnmattew: 5:58pm On Apr 14, 2020
why are they focusing on nigeria?


France and many European and other countries are on recession

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by MadeInTokyo: 5:58pm On Apr 14, 2020
Buhari again
Back to back to back recession under only Buhari
1985, 2015 and 2020
Canada here I come..enough is enough

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by infini771: 5:58pm On Apr 14, 2020
Prophets of doom. Melinda Gates wants dead bodies on our roads while International MMM Funds wants our economy to go into recession.

They cancelled the the debts of some African countries but chose to exclude Nigeria.

Anyway, they should wait for these kleptocrats to leave the corridors of power.

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by EdoPrince93(m): 5:58pm On Apr 14, 2020
Disgraceful government...

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Mistaicey2288: 5:59pm On Apr 14, 2020
Issokay... No be new thin nah. Shebi the dullard in Aso Rock had previously plunged the nation into recession. Now we're about witnessing the worst in 30 years under Mr Clueless/Mr Lifeless. A tyrant incompetent dictator who failed as a Military Head of State and only played blame games and now still a failure as a Democratic President playing same blame games..

But he still has his zombie Sai Barbarians following and hailing him even when they can clearly see how useless their leader is. Alas, they are all Unrepentant senseless fools... Make una continue to Sai Barber ooo. Ndị Ara!

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by ignis: 5:59pm On Apr 14, 2020
At last the incompetent team have found a valid excuse to throw the country into recession.

COVID-19 should be a spring board to strategize as a nation and correct the observed anomalies rather than a tool for recession.

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Hausaboy239(m): 5:59pm On Apr 14, 2020
G
Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by Jabioro: 5:59pm On Apr 14, 2020
Na there wahala be that..make dem unlocked the lockdown make we see who go suffer am

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Re: Nigeria Heading Into Worst Recession In 30 Years –IMF by philip0906(m): 5:59pm On Apr 14, 2020
SarkinYarki:
No suprises Buhari is the worst Nigerian leader in the last 30 years , and ironically the worst leader 30 years ago was still the same Buhari ..God Punish all of those that enabled failure in 2019 !!!!

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