Dollar Scarcity as Nigeria Faces Another Possible Recession

The government's coffers have been heavily impacted after crude prices plunged in the wake of the novel coronavirus pandemic. The government has said that the country needs to achieve a strong economic performance in the third quarter of 2020, or there will be the possibility of sliding into a second recession. Experts have expressed concern over rising inflation in Nigeria, coupled with increasing unemployment, high exchange rates and illiquidity in the foreign exchange market. 


A commercial tricycle operator operating along Tafawa Balewa Square in Lagos Nigeria

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