The world economy is now projected to fall by 4.4% in 2020.
A CBN survey has concluded that credit to the economy declined by N900 billion or 2.27 % in August.
The world economy has ended up performing better than the International Monetary Fund had envisaged in Q2 and Q3.
The IGR generated by the 36 states including the FCT in the first half of the year, dipped by 11.7%.
Many households have had to take out loans to meet their pressing financial obligations due to the effects of the COVID-19 pandemic.
According to the survey, loans taken since mid-March have been predominately informal in nature.
As Nigeria marks her independence anniversary, it is imperative to Xray how the economy has performed in the past decades.
The sum of N696.18 billion to the Federal, State, and Local governments in July 2020 from the FAAC account.
About N2 trillion spent in the last 5 years to achieve food self-sufficiency.
Highest increases were recorded in prices of Passenger transport by air, Hospital services, Medical services, Pharmaceutical products and others.