BREAKING: Nigerian economy slips into recession as GDP contracts by 3.62% in Q3 2020
The Nigerian economy officially plunges into recession as the country’s GDP in real terms declined by -3.62% YoY in Q3 2020, the second contraction in 2020.

Nigeria’s Gross Domestic Product (GDP) in real terms declined by -3.62% (year-on-year) in Q3 2020, thereby marking a full-blown recession and second consecutive contraction from -6.10% recorded in the previous quarter (Q2 2020).

This is according to the second quarter (Q3) GDP report, released by the National Bureau of Statistics (NBS) on Saturday.

According to the report, oil GDP contracted by -13.89% (-6.63% in Q2 2020; 6.49%% in Q3 2019) while Non-Oil GDP contracted -2.51% (-6.05% in Q2 2020; 1.85% in Q3 2019)…

More details shortly….

Source :https://nairametrics.com/2020/11/21/breaking-nigerian-economy-slips-into-recession-as-gdp-contracts-by-3-62-in-q3-2020/

It's official we are in another recession

What's the difference?

Aren't we in recession since 2019…?

As expected

Recession indeed!

How low can we go under this monumental disaster called General Buhari? This is Depression we are in! Let's call a spade a spade!

The country never came out of recession if you ask me.

Make I do collect all the gbese wey people owe me before stories go start.

This is Godwin Emefele the CBN Governors fault

Irrespective of how Lai Mohammed and APC halleluyah boys tried to lie, facts are stubborn. It will definitely stare us in the face.

Yesterday, it was revealed that Nigeria under the government of General Muhammadu Buhari had spent $1.6 billion on Turnaround Maintenance of refineries.
The same government shamelessly signed a MoU with Niger Republic for the importation of fuel from a Nigerien Refinery that was built with $980 million.


Today, NBS alert came in, Nigeria is officially in recession.

Please note: prior to covid, Nigeria is already on the path to recession. So, no voodoo economist should use covid as an excuse here.

We are getting to the Next Level

2023 is like 100yrs walahi, God should answer our prayers d way he did on abacha case..we are tired of buhari

We have always been in a recession

Kestolove:
2023 is like 100yrs walahi, God should answer our prayers d way he did on abacha case..we are tired of buhari

My dear, 2023 far o.
I just pray we make right choices.

But, I pity whoever takes over from Buhari

For as long as buhari led apc govt is in power,we will remain in recession,note that this is the forth under buhari adminstrations.

Dark times ahead

The economy shrank by 6.10% in Q2
And now it's shrinking by 3.62% in Q3

It's hard to speak of anything good thing about this present administration

Kyase:
What's the difference?

Aren't we in recession since 2019…?

You are right but now it's official

ChangetheChange:

It is over..
Buhari the first and only Nigerian President to lead Nigeria into 3 different recessions.

All those who voted Buhari in 2015, 2019 and those still supporting him, I wish u all 600 years of recession

Amen

FarahAideed:


You are right but now it's official

Buhari is just empty upstairs, nothing that man sabi
We the entire northerners are ashamed of him
We need to mend what our son has done.
Another northerner in 2023

How would governor umahi explain this to Nigerians since he said apc government is far better than 16 years of PDP.
2016, Nigeria economy slipped into recession.
2020, Nigeria economy slipped into recession again.
Buhari and his team of failure Sabi ooo

As expected... It's no news

Do you need any body to tell you consiquences of lockdown, poor rain, EndSARs protesters blocking major roads, businesses been burnt is economic recession



.

Full Blown Recession

We’ve been in recession since 2016

Buhari is the worst thing to happen to Nigeria. The old man is brain dead and knows nothing about governance.

Zombies, over to you...nitwits

How can the NIGERIAN dream be to leave Nigeria? Buhari was crying on live TV that he wants to lead Nigeria...we have him the opportunity, see how he has made a fool of himself..

Backward, retrogressive cowish murderer!!!

Nothing, absolutely nothing works in Nigeria.

I spit on Buhari