Trouble Looms As Nigeria’s Economy Enters Negative Growth

In spite of being one of the oil-rich countries in Africa and the world, Nigeria continues to wallow in poverty. The West African Country is normally being tagged as one of the most corrupt countries in the world.

It therefore comes as no surprise that Nigerian leaders have always been subject of trolls and harsh criticisms. The Covid-19 pandemic has had overwhelming effects on almost every country in the world.

However, it seems the case of Nigeria is even worse. Nigeria’s economy has entered a negative growth as confirmed in a new report released by the National Bureau of Statistics (NBS) on Monday, August 24.The country’s Gross Domestic Product (GDP) contracted by –6.10 per cent in the second quarter of 2020.The decline was as a result of contraction in domestic and international economic activity during the quarter (April to June 2020).

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