Nigeria Is Heading Towards Recession Due To Coronavirus – Fashola

Nigeria’s Minister of Works and Housing, Babatunde Fashola, has said that Nigeria is heading towards recession due to the coronavirus pandemic.

Speaking on Channels Television, Fashola stated that the government is working towards reviving the country’s economy.

He also blamed the slow-pace of work at the Lagos-Ibadan expressway on the pandemic which has left Nigeria with 11516 confirmed COVID-19 cases.

Fashola said: “As I speak to you now, we have lost essentially the prime of our working period which is the dry season in the COVID-19 period.

“We have also lost some of our expected revenue plans. At the time COVID-19 hit Nigeria, we were doing 2.59 percent growth rate.

“Now we are heading for a recession globally and Nigeria will not be insulated from that.

“We are working on plans to bring the economy back on track.”

The Nigerian Center for Disease Control, NCDC, recently announced 350 new cases of COVID-19 in the country.