Nigeria's Recession: Causes, Effects and Solutions
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.
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Omale, A. (2018). Nigeria's Recession: Causes, Effects and Solutions. Afribary. Retrieved from https://tracking.afribary.com/books/attachment-25
Omale, Abel "Nigeria's Recession: Causes, Effects and Solutions" Afribary. Afribary, 26 Mar. 2018, https://tracking.afribary.com/books/attachment-25. Accessed 22 Dec. 2024.
Omale, Abel . "Nigeria's Recession: Causes, Effects and Solutions". Afribary, Afribary, 26 Mar. 2018. Web. 22 Dec. 2024. < https://tracking.afribary.com/books/attachment-25 >.
Omale, Abel . "Nigeria's Recession: Causes, Effects and Solutions" Afribary (2018). Accessed December 22, 2024. https://tracking.afribary.com/books/attachment-25