The Nigerian economy may slide into recession. It’s expected with the global pandemic – Coronavirus and the drop in oil price globally.
Minister of Finance, Budget and National Planning, Zainab Ahmed disclosed during a press briefing after the first virtual meeting of the National Economic Council (NEC), which was chaired by Vice President, Yemi Osinbajo.
The minister said that the ravaging coronavirus pandemic is not only affecting the country economically, but also affecting the health sector, as the resources to fight this appear inadequate.
She admitted that the crash in crude oil prices would negatively affect the country’s revenue and foreign exchange earnings.
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