Nigeria Slips Back into Recession as Covid-19 Bites

The soaring cost of food and other necessities has impacted Nigerians as the economy slumps into recession. Measures taken to deal with the novel coronavirus have crippled economic activity. In addition, a slump in global oil prices has affected Nigeria, which depends on oil revenue. The country is in recession for the second time since 2016, and is experiencing the worst economic decline in almost four decades.


Market scene in Abuja, Nigeria (file photo).

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