The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has expressed her fears of Nigeria’s economy sliding into recession should the COVID-19 pandemic continue for the next six months.
Mrs Zainab disclosed this during a talk show on Channels Television. The Minister noted that the Federal Government is doing everything necessary to ensure that pandemic is contained, and the effects are cushioned. But further stressed that the effect of the pandemic could be alarming, should the outbreak continue longer than six months.
She said, “We are hopeful that this pandemic will be limited in time. If it is an average of three months, we should be able to close the year with positive growth. But if it goes longer than that – six months, one year – we will go into recession.”