The management of Arik Air issued a mail to all workers that it has implemented 80% salary cut for its personnel for the month of April.
Investors’ pessimism has taken over and people are selling off due to uncertainty of where the world is going.
The International Monetary Fund (IMF) has projected that Nigeria is heading to a recession, its worst recession in three decades, as it expects the nation's economy to recede by 3.4% in 2020.
Brace up; The effect of the oil price war between Saudi Arabia and Russia as well as Covid-19 virus is expected to throw Nigeria into another recession by the end of 2020.
If or when the inflation rate rises, it may trigger an increase in the cost of living. This is because hike in prices influences inflation rate.
