Recession will be short-lived — FG

The Federal Government has said the current economic recession will be short-lived.

The Minister of Finance, Budget and National Planning Mrs. Zainab Ahmed stated this on Monday at the 26th Economic Summit which began in Abuja.

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“The current recession will be a short one as the government and key stakeholders; are proactively working together to put in place sustainable measures to curtail and improve the situation.”

The National Bureau of Statistics officially announced Nigeria’s economy has gone into a recession on Saturday.

Nigeria’s GDP recorded a negative growth of 3.62 per cent in the third quarter of 2020.

The theme for this year’s Summit is “Building Partnerships for Resilience”.

The 26th Nigerian Economic Summit is jointly organised with the Federal Ministry of Finance, Budget and National Planning (FMFBNP).

It is expected to be an earnest discourse for public and private sector stakeholders to reflect on the state of the Nigerian economy, rethink the country’s economic fundamentals, deliberate on the impact of the global pandemic and chart a path to rapid recovery.