Please I need people with better knowledge of the word Recession to enlighten me, cause the Nigerian context of the word Recession has been politicise to a greater level by those in Government and Opposition. After listening to the whole recession brouhaha, am tempted to think that ignorance is a major problem of this Country.
Meanwhile, this is what I understand by the word Recession, "the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year".
Any better definition will be welcome too.

jerusalem101:
Please I need people with better knowledge of the word Recession to enlighten me, cause the Nigerian context of the word Recession has been politicise to a greater level by those in Government and Opposition. After listening to the whole recession brouhaha, am tempted to think that ignorance is a major problem of this Country.
Meanwhile, this is what I understand by the word Recession, "the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year".
Any better definition will be welcome too.

Recession is just the fall of the GDP in two successive quarters.

In Q1 (Jan - March), there was a decline in the GDP figures as released by NBS (Nigerian Bureau of Statistics)

Also in Q2 (April - June), another decline was recorded.

So viola, we are technically in a "Recession" based on Economics.

Then again, "Stagflation" is our major problem in Nigeria.
- Slow economic growth, rising inflation and unemployment rates.

In fact we are heading to Depression

The definition of recession is the Nigerian economy simpu

Simply means-the end effect of the utter cluelessness of a party called APC that once ruled Nigeria.

Recession in a simple business language is a decline in demand and investments.

Recession: is a word (Kemi Adeosun's definition)

Paperwhite:
Simply means-the end effect of the utter cluelessness of a party called APC that once ruled Nigeria.

u dont even know d meanin and wont learn...ur own mumu 2much.

clefstone:
Recession: is a word (Kemi Adeosun's definition)

keep quite and learn!

A better definition you said?

Recession is the state of the economy declines; a widespread decline in the GDP and employment and trade lasting from six months to a year resulting from lack of good government policies and no economic direction especially in a country ruled by a dulllard and hailed by zombies

recession is define as d slow down of economic activities in d con3 ova a period of two quarters in a year.

GoldenJAT:
keep quite and learn!

learn from you who spells quiet as quite?

clefstone:
learn from you who spells quiet as quite?

that was certainly a typographical error!ur shallow mind sure knows that,but wont admit!

recession is when they is reduction in spending, and lack of employment in his full capacity, as for me, i am enjoying the recession becos i want pple to reduce their spending on trivia things or things that wil not help them or help the country, but i want the govt to spend on critical infrastructure.

GoldenJAT:
that was certainly a typographical error!ur shallow mind sure knows that,but wont admit!

you must be an APC member. Always have an excuse or lie to come up with when they goof

You are brave for asking.......next time ask some people in certain ministries and see the different many definitions you will get