Nigeria has officially slid into its worst economic recession in over three decades, TheCable can report.

According to gross domestic product numbers released by the National Bureau of Statistics on Saturday, the nation recorded a contraction of 3.62 percent in the third quarter of 2020.

This is the second consecutive quarterly GDP decline since the recession of 2016. The cumulative GDP for the first nine months of 2020, therefore, stood at -2.48 percent.

The last time Nigeria recorded such cummulative GDP was in 1987, when GDP declined by 10.8 percent.

According to World Bank and NBS figures monitored by TheCable, this is also the second recession under President Muhamadu Buhari’s democratic reign — and his fourth as head of state.

More to follow…

https://www.thecable.ng/breaking-nigeria-officially-slides-into-worst-recession-since-1987/amp

This is an expected result from poor leadership (mediocre leaders).

It's sad Nigerians won't learn from all this sufferings when it comes to choosing a leader to lead the nation.

I wonder which genius will deliver Nigerians out of this economic quagmire?

So sad..

Ecstasy154:
Nigeria has officially slid into its worst economic recession in over three decades, TheCable can report.

According to gross domestic product numbers released by the National Bureau of Statistics on Saturday, the nation recorded a contraction of 3.62 percent in the third quarter of 2020.

This is the second consecutive quarterly GDP decline since the recession of 2016. The cumulative GDP for the first nine months of 2020, therefore, stood at -2.48 percent.

The last time Nigeria recorded such cummulative GDP was in 1987, when GDP declined by 10.8 percent.

According to World Bank and NBS figures monitored by TheCable, this is also the second recession under President Muhamadu Buhari’s democratic reign — and his fourth as head of state.

More to follow…

https://www.thecable.ng/breaking-nigeria-officially-slides-into-worst-recession-since-1987/amp

All thanks to buhari led apc govt,hopefully we'll survive it.

They are blaming rising cost of transportation and #EndSARS for the worsening economic meltdown/ recession forgetting their unparalleled cluelessness, policy somersault & constricting economic policies.The love lies & propaganda but all have their limits.This is the end result.

Racoon:
They are blaming rising cost of transportation and #EndSARS for the worsening economic meltdown/ recession forgetting their unparalleled cluelessness, policy somersault & constricting economic policies.The love lies & propaganda but all have their limits.This is the end result.

it's fake news