Virus fallout: IMF says Nigeria economy to shrink by 3.4 percent | Nigeria News

The Worldwide Financial Fund says Nigeria’s economic system is anticipated to shrink by 3.four p.c this 12 months and Africa’s largest economic system might face a recession lasting till 2021.

Oil-rich Nigeria has been hit by the plunge within the demand for vitality set off by the worldwide lockdown towards COVID-19.

And the nation’s jobless fee, already at 23 p.c, is anticipated to climb even larger. 

Al Jazeera’s Ahmed Idris reviews from Abuja.

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