Nigeria may slip into recession — Buhari

President Muhammadu Buhari has disclosed that Nigeria may slip into a second recession in four years.

Buhari, who made this known during the 2021 Budget presentation on Thursday, said his administration remains committed to lifting 100 million Nigerians out of poverty in the next 10 years.

He said: GDP growth is projected to be negative in the third quarter of this year. As such, our economy may lapse into the second recession in four years, with significant adverse consequences.

“However, we are working assiduously to ensure a rapid recovery in 2021.

“We remain committed to implementing programmes to lift 100 million Nigerians out of poverty over the next 10 years.

“As skills’ deficits limit employment opportunities in the formal economy, various skills’ development programmes are being implemented simultaneously to address this problem frontally.

“For instance, the Government is implementing the Special Public Works programme to provide employment opportunities to  774,000 youths across the 774 local government areas of Nigeria.

IMPORTANT  FG Agency sells N49m vehicles to MD for N4.9m few months after purchase

“We have also recently introduced the N25 billion Nigeria Youth Investment Fund.”

Leave a Reply

%d bloggers like this: