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A News Analysis by Folasade Akpan of the News Agency of Nigeria (NAN) With the National Bureau of Statistics’ (NBS) report on the contraction of the nation’s Gross Domestic Product (GDP) by 3.6 per cent in the third quarter of the year (Q3 2020), it was official that Nigeria had slipped into recession for the second time in five years. According to the NBS, cumulatively, the economy contracted by -2.48 per cent, representing an improvement of 2.48 per cent over the –6.10 per cent growth rate recorded in the preceding quarter (Q2 2020). It also indicated that two consecutive quarters of ...

Tackling Nigeria’s recession challenges head on in spite COVID-19 On A News Analysis by Folasade Akpan of the News Agency of Nigeria (NAN) With the National Bureau of Statistics’ (NBS) report on the contraction of the nation’s Gross Domestic Product (GDP) by 3.6 per cent in the third quarter of the year (Q3 2020), it was official that Nigeria had slipped into recession for the second time in five years. According to the NBS, cumulatively, the economy contracted by -2.48 per cent, representing an improvement of 2.48 per cent over the –6.10 per cent growth rate recorded in the precedin...