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. 

InFocus

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

Don't Miss

AllAfrica publishes around 800 reports a day from more than 130 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.

X