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BREAKING: Nigeria Officially Enters Worst Recession Since 1987 Amidst #Covid-19

BREAKING: Nigeria Officially Enters Worst Recession Since 1987 Amidst #Covid-19—Nigeria’s Gross Domestic Product (GDP) contracted by 3.62% in the third quarter of 2020, officially indicating that Nigeria has fallen into recession as the oil sector dipped by 13.89% (year-on-year) in real term.

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BREAKING: Nigeria Officially Enters Worst Recession Since 1987 Amidst #Covid-19

BREAKING: Nigeria Officially Enters Worst Recession Since 1987 Amidst #Covid-19-Nigeria’s Gross Domestic Product (GDP) contracted by 3.62% in the third quarter of 2020, officially indicating that Nigeria has fallen into recession as the oil sector dipped by 13.89% (year-on-year) in real term.

This is according to the Gross Domestic Product (GDP) report, just released by the National Bureau of Statistics (NBS).
BREAKING: Nigeria Enters 2nd Recession As oil Sector Contracts By 13.89% Amidst #Covid-19

The contraction in the oil sector represents 7.26% points lower than the growth recorded in the previous quarter (Q2 2020, -6.63%) while the non-oil sector contracted by 2.51% in the review quarter.

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