Wednesday , 21 November 2018
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Tag Archives: recession

Nigeria’s people getting poorer, government to ‘muddle through’, says IMF

Nigeria’s people are getting poorer despite the country’s slow recovery from recession, and economic reforms are urgently needed, the International Monetary Fund (IMF) said in a report seen by Reuters on Wednesday. The Fund expects the government to “muddle through” in the medium term, and any progress could also be threatened if elections next year consume political energy and resources, …

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Ngozi Okonjo-Iweala still bewitching Nigerians with voodoo economics

A video clip that is over a year old has resurfaced on social media showing Nigeria’s former finance minister, Ngozi Okonjo-Iweala, speaking at an event in which she claimed that Nigeria went into recession because it lacked the political will to save during the “boom times”. This reminded me of an old saying: “After all is said and done, a …

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Now that the recession is over

Data released by the Nigerian Bureau of Statistics yesterday shows that Nigeria’s economy is finally out of a recession. GDP growth for Q2 of 2017 grew by 0.55%, halting five quarters of negative growth. As expected, there have been mixed reactions to this. Some have celebrated what they consider a praiseworthy feat which indicates that the government has finally turned …

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