New World Bank report paints a grim picture of Nigeria
Nigeria’s total foreign trade (import and export) rose marginally by 0.8% year on year, when compared to N8.24 trillion recorded in the corresponding quarter of 2019.
Zainab Ahmed admitted that the crash in crude prices would negatively affect the country’s revenue and foreign exchange earnings.
Covid-19 impact on Nigerian businesses can be classified into 3 major channels and they are the supply channel, the demand channel and the financial channel.
Although there have been a few gainers, most companies have lost major earnings due to COVID-19.
Nigeria is currently fighting on many fronts, battered by the sudden plunge in oil prices and the global economic slowdown resulting from the COVID-19 pandemic.
Bank of America (BofA) has projected that the global economy would shrink by 12% by the end of Second quarter of 2020.
Recession means that output produced in any economy declines, and there are several measures taken to buils a recesssion proof portfolio.
Nigeria may soon go into recession for second time under President Buhari.
Despite the reassuring GDP figures from the just released Q3 2017 report there are still palpable fears in the real estate sector of the economy. According...