Zainab Ahmed, Nigeria’s Minister of Finance, has said the country will go into recession if the Coronavirus pandemic persists longer than six months.
She made this known when she appeared on Channels TV on Friday March 27.
“We are hopeful that this pandemic will be limited in time. If it is an average of three months, we should be able to close the year with positive growth. But if it goes longer than that – six months, one year – we will go into recession.” she said
Also the Managing Director, Afrinvest Securities Limited, Mr Ayodeji Ebo, said, “If this COVID-19 persists for the next six months and oil prices remain below $30 per barrel, then Nigeria may be in a crisis.
“In addition, if the pandemic significantly spreads in Nigeria, business activities will seriously slow down.”