There is the strong possibility that Nigeria could return to recession following the adverse economic indicators.


The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that weak economic fundamentals currently being shown by the economy were putting the country’s exit from recession under threat.

The Nigerian economy exited recession in 2017 after suffering contraction for five consecutive quarters.
Addressing journalists shortly after the two-day meeting of the MPC members held at the headquarters of the apex bank, the CBN Governor, Mr Godwin Emefiele, said the economy had started showing signs of weakness.

For instance, he said the committee was concerned that there was a fresh threat of recession as the economy recorded growth rate of 1.95 per cent and 1.5 per cent during the first and the second quarters of this year, respectively.
He noted that the slowdown emanated from the oil sector, with strong linkages to employment and growth.

For instance, the apex bank boss said the late implementation of the 2018 budget, weakening demand and consumer spending, rising contractor debts, and low minimum wage were some of the risks to output growth.
Others, according to him, are the impact of flooding on agricultural output, continued security challenges in the North-East and North-Central zones, and growing level of sovereign debts.

More below:

https://zenithnaija.com/nigeria-might-experience-recession-again-cbn/

cc: lalasticlala dominique Mynd44

As if we ever came out of recession in the first place. Buhari is recession personified and as long as he sits in Aso rock, the situation would grow from worse to worst!

Oh. We already out of recession. Doesn't feel like it.

Recession is a silent killer, our government should be fast to stabilise the economy before 2019 election...

This analysis is from PDP...

Apc is evil

This administration is clueless, brainless, useless, lifeless and devilish. This county will never move forward if APC remains in power. If buhari returns, trust me there wont be rule of law or separation of power because he will want control everything, so many people will be thrown in jail, the media will be crippled, recession will be worse than it was and he won't care.

In the report, it is stated that the late passage of the 2018 budget by the Saraki led National Assembly, contributed hugely to the present threat of recession.

Saraki and his gang of criminals were busy fighting the executive and looting the Country at the same time. While they abandoned their primary duties of Budget, oversight and making Laws.

May God help us.

Almaiga:
In the report, it is stated that the late passage of the 2018 budget by the Saraki led National Assembly, contributed hugely to the present threat of recession.

Saraki and his gang of criminals were busy fighting the executive and looting the Country at the same time. While they abandoned their primary duties of Budget, oversight and making Laws.

May thunder hug you there! Bloody fanatics! You are a so shameless, you blame Saraki for the failures of your lifeless! See who is talking about loot. The wife of your lifeless is pursuing her relooted N2.5b loot looted by a suspected relooter! God will deliver Nigeria from your lifeless and all this hypocrisy. Maybe we can find some good use for your type thereafter! Bloody Hypocrites and Bigots!