NIGERIA’S RECESSION: CAUSES, EFFECTS AND SOLUTIONS.
The Central Bank of Nigeria (CBN) and the minister of finance Kemi Adeosun have all agreed that Nigeria is technically plunged into recession. I will be analysing some causes of Nigeria’s recession and the possible way out. The National Bureau of Economic Research (NBER) defines recession as a significant decline in economic activity Spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production and wholesale – retail trade. Economic recession in any economy can be caused by fall in aggregate demand, fall in wages, high inflation, accumulation of debt, high interest rate and mass unemployment.
Omale, A. (2018). Nigeria's Recession: Causes, Effects and Solutions. Afribary. Retrieved from https://track.afribary.com/books/attachment-25
Omale, Abel "Nigeria's Recession: Causes, Effects and Solutions" Afribary. Afribary, 26 Mar. 2018, https://track.afribary.com/books/attachment-25. Accessed 27 Nov. 2024.
Omale, Abel . "Nigeria's Recession: Causes, Effects and Solutions". Afribary, Afribary, 26 Mar. 2018. Web. 27 Nov. 2024. < https://track.afribary.com/books/attachment-25 >.
Omale, Abel . "Nigeria's Recession: Causes, Effects and Solutions" Afribary (2018). Accessed November 27, 2024. https://track.afribary.com/books/attachment-25