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Nairaland Forum / Nairaland / General / Politics / Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 (809 Views)
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Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by FarahAideed: 11:32am On Nov 21, 2020 |
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/
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Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by FarahAideed: 11:33am On Nov 21, 2020 |
It's official we are in another recession |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Kyase(m): 11:34am On Nov 21, 2020 |
What's the difference? Aren't we in recession since 2019…? 1 Like
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Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by peacekante: 11:37am On Nov 21, 2020 |
As expected 1 Like |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by dgitrader(m): 11:39am On Nov 21, 2020 |
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! 1 Like
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Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by omenka(m): 11:44am On Nov 21, 2020 |
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. 1 Like |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Bighead5: 11:46am On Nov 21, 2020 |
This is Godwin Emefele the CBN Governors fault
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Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Moferere: 11:50am On Nov 21, 2020 |
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 ![]() |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Kestolove(m): 11:51am On Nov 21, 2020 |
2023 is like 100yrs walahi, God should answer our prayers d way he did on abacha case..we are tired of buhari |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Nukilia: 11:53am On Nov 21, 2020 |
We have always been in a recession ![]() ![]() ![]() |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Moferere: 11:58am On Nov 21, 2020 |
Kestolove: My dear, 2023 far o. I just pray we make right choices. But, I pity whoever takes over from Buhari |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Conrod: 11:58am On Nov 21, 2020 |
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. |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by EmeraldKing7(m): 11:59am On Nov 21, 2020 |
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 |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by ChangetheChange: 12:02pm On Nov 21, 2020 |
![]() ![]() ![]() It is over.. Nigerian is now a janaja-weed Republic...thanks to Buhari and his cow republic Economic policies Buhari the first and only Nigerian President to lead Nigeria into 3 different recessions. Nigeria is headed for Economic Depression in a matter of few years from now, with Buhari still in power, it is inevitable. Things are about to get more worse , we will be taxed more, unemployment rate will shoot up, companies will fold up, the Naira will become useless. We are moving from Economic recession to Economic Depression--Quote me All those who voted Buhari in 2015, 2019 and those still supporting him, I wish u all 600 years of recession insha allah 1 Like |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by FarahAideed: 12:04pm On Nov 21, 2020 |
Kyase: You are right but now it's official |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by FarahAideed: 12:04pm On Nov 21, 2020 |
ChangetheChange: Amen |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Kyase(m): 1:15pm On Nov 21, 2020 |
FarahAideed: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 |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Luckydubby7(m): 2:17pm On Nov 21, 2020 |
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 |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Okoroawusa: 2:27pm On Nov 21, 2020 |
As expected... It's no news |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by techmo(m): 2:30pm On Nov 21, 2020 |
![]() Do you need any body to tell you consiquences of lockdown, poor rain, EndSARs protesters blocking major roads, businesses been burnt is economic recession . |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Pepsi4me(f): 2:34pm On Nov 21, 2020 |
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Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by lamentor78(m): 2:46pm On Nov 21, 2020 |
Full Blown Recession |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by Morningstarrr(m): 2:53pm On Nov 21, 2020 |
We’ve been in recession since 2016 |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by HopeUzodinma: 3:00pm On Nov 21, 2020 |
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 |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by HopeUzodinma: 3:02pm On Nov 21, 2020 |
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!!! |
Re: Nigerian Economy Slips Into Recession As GDP Contracts By 3.62% In Q3 2020 by HopeUzodinma: 3:02pm On Nov 21, 2020 |
Nothing, absolutely nothing works in Nigeria. I spit on Buhari |
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