BREAKING: Nigeria Slides Into Worst Recession Since 1987

COVID-19: Buhari Declares Total Lockdown In Kano State

Buhari addresses Nigerians as Africa’s most populous nation grapples with the coronavirus pandemic (image courtesy: State House)

Report has it that Nigeria has slide into its worst recession in over three decades.

This is visible in the gross domestic product numbers released by the National Bureau of Statistics on Saturday.

The statistics show that the nation recorded a contraction of 3.62 percent in the third quarter of 2020.

This is the second consecutive quarterly GDP decline since the recession of 2016. The cumulative GDP for the first nine months of 2020, therefore, stood at -2.48 percent.

The last time Nigeria recorded such cummulative GDP was in 1987, when GDP declined by 10.8 percent.

The World Bank and NBS figures shows that this is also the second recession under President Muhamadu Buhari’s administration as a democratically elected leader.


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