Rising costs of food and other key commodities have had an effect on Nigerians as the economy collapses into recession. Measures to deal with the new coronavirus have paralyzed economic activity. Moreover, a decline in global oil costs has affected Nigeria. that depends on oil revenues. The country is currently in recession since 2016 and is experiencing the worst economic decline in nearly 4 decades.
The country’s economy has declined due to a collapse in oil costs as the global consequences of Covid-19 affected production, and due to the slowdown in economic activity through a lockdownArray. More information “
Government coffers have been greatly affected after crude oil costs fell as a result of the new coronavirus pandemic. The government said the countryArray. . Read more »
Nigeria’s inflation rate rose to a 30-month high of 14. 23% in October, according to the latest figures from the National Bureau of Statistics. Country inflation fix. . More information “
Market scene in Abuja, Nigeria (file photo).
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