Nigeria's Economy has officially slid into recession. This is going by the new report from the National Bureau of Statistics on the Gross Domestic Product figures for the second quarter of 2016 released today. According to the report which was shared via the twitter handle of the Staistician General of the Federation, Yemi Kale, Nigeria's GDP growth rate dropped from -0.36 per cent in the first quarter to -2.06 per cent.
This makes it clear that Nigeria is indeed in recession.
A recession is defined as a significant decline in activities across the economy, lasting longer than a few months. It is visible in industrial production, employment, real income and wholesale retail trade.
The report adds that Nigeria's Capital Importation for the second quarter of the year dropped to $647.1m(lowest quarterly on record) from $710.9 m in the first quarter.
http://www.nigerianstat.gov.ng/
58 comments:
This is APC Chain folks...!
Chai!!!! 😮 Buhari! This is a big shame and slap to people who put all hope and trust in you! Just pathetic!
Oh God wats dis? Wen wil al dis end? Dats a question I kip askin myself
Weldone buhari... Ur plan is working
It is well o
...merited happiness
Buhari is a bad luck man...
Freeborn love it.
Where is una magician president who think that to open mouth any how in campaign an promise rubbish or by making Jonathan government ungovernable means he can rule huh?
TERRORIST BUHARI AND ALL HIS FULANI KINSMEN IN ASO ROCK AND MINISTERS SHOULD RESIGN because they are all clueless and ignorant.they should BRING BACK OUR CORRUPTION BEFORE THEY SELL NIGERIA ONE DAY OUT OF IGNORANT.
am sure that those idiot that speak against wise Jonathan are seeing this huh?
U CAN'T COMPARE A PHD HOLDER like Jonathan AND FULANI HEDSMEN like terrorist buhari TOGETHER NA.
#sad indeed
Freeborn love it.
Where is una magician president who think that to open mouth any how in campaign an promise rubbish or by making Jonathan government ungovernable means he can rule huh?
TERRORIST BUHARI AND ALL HIS FULANI KINSMEN IN ASO ROCK AND MINISTERS SHOULD RESIGN because they are all clueless and ignorant.they should BRING BACK OUR CORRUPTION BEFORE THEY SELL NIGERIA ONE DAY OUT OF IGNORANT.
am sure that those idiot that speak against wise Jonathan are seeing this huh?
U CAN'T COMPARE A PHD HOLDER like Jonathan AND FULANI HEDSMEN like terrorist buhari TOGETHER NA.
#sad indeed
Ah Ah....Una President go on exile?.
Terrible times for Nigeria but will turn out to be great
kai
-D great anonymous now as Vivian Reginalds
officially in recession? so it wasn't official before? may God help us
yemi alade did not see johnny, but finally found celebobo, see what thay are doing
,
,
unbeliveable see what naija people who went to abroad to stody are doing in class
,
,
see what lil wayne and nicky minaj are doing on stage
Please bring back our Gej and Ngozi Okonjo Iweala,we are finished,never seen a thing like this
Awww, I follow freeborn weep. Buhari messing up Nigeria since 1983. I'm not surprised.
It is no longer news nah! Linda take note!
It's well
Chai! Buhari has officially finished Nigeria! The most incompetent president in the history of democracy in the whole world! It's high time the Nigerian Senate emulated the Brazilian senate which are on the verge of impeaching their president who led the country into recession and untold hardship,, exactly the same thing buhari is doing over here
Na me talk am!
Long Live Lib!!!
PMB's regime makes GEJ's tenure look like El Dorado. Compared with what is going on, I can correctly refer to the Jonathan era as the good old days. A lot of water has passed under the bridge just within a space of 15 months. Time has been able to tell the difference. The thing that suprises me is it did not even take a long time for these changes to manifest. This is what happens when a people forget their history and are desperate for change for the sake of it.
Damn!!
May the Good Lord save us all.
Any financial guru here? Oya start explaining in simplified terms the outcome in the nearest future. It is well with Nigeria
😂😂😂😂😂😂😂😂😂😂😂😂😂😂 idiots voted for changed, that's what's you get because of tribalism. I question to Nigerians will you hire a person without a Waec to manage your fish farm, but you ll hire the same to run your country and you wonder why we are in this situation.
Buhari welldone. Agbaya
History has it that when Buhari was in power the other time, as a military president, that was how things went south-(down)
😂😂😂😂😂😂😂😂😂😂😂😂😂😂 idiots voted for changed, that's what's you get because of tribalism. I question to Nigerians will you hire a person without a Waec to manage your fish farm, but you ll hire the same to run your country and you wonder why we are in this situation.
This is just the beginning.
says, Genevieve.
Nigerians wanted change, here comes change....
Buhari you can see that nah our economy is poor
Too bad...recession is still economically manageable, depression could be worst. Now, this is no longer the time to blame the past administration but that to mobilise actions and stategize to revamp this comatose economy. But I hardly think the present economic team as constituted is competent. Now is the time to draw the attention of economic experts like: Chukwuma Soludo, Sanusi Lamido Sanusi, Pat Utomi, Idika Kalu, Ngozi Okonjo Iweala. Let's put aside partisan politics expertise is what we need now!
Said baba! Change! Change!! Change!!! Haha haha
Oh God!! Please, help us
Your very wise
You are very wise
I still wonder why Abokiwarri and Bonario will not comment
-vt Change, God help us
If this is recession, then, what have we been in, since 1985? Scratching my head.
Is this why you can't type in proper English?
Bleep buhari,maganaburitashi buhari
Whoever you're, may God keep blessing you for me @freeborn.
Blame Jonathan
True talk.. God bless u bro for this comment..
Buharia, no even understand dis Q1,q2 & GDP wey una dey write for here. so all this write na in vain.
Nobody is shouting sai Baba. Apc change!Idoitic pipo. Una don see say the pipo no get anything to offer.
My beloved country people which way forward? Is this how we are going to continue?
Abeg mark zukky still dey town I wan follow am go...I'm officially tired
That is to tell u not to put ur trust in humans. It is only God's kingdom that can solve human problems.
APC evil scam change government has achieve their evil agenda from technical recession to assual recession. We allowed this evil APC SCAM change gang deceive us to forgo the transformation agenda of Jonathan for this hunger and starvation. God will punish all this clueless and visionless APC scam change government that ruin our once buoyant economy
We have to endure the remaining 3 years of this clueless and visionless APC scam change government......we shall bounce them out by 2016 by God's grace, Amen
PBM Never had any plans for Nigeria economically, he just wanted to rule Nigeria and punish his enemies. He's just so stubborn, not business friendly, investors don't trust him, panic whatever he opens his mouth, his statements about the country never sell the products of the country but chasing away investors and tourists and what have... It's a shame that we find ourselves in this place but PMB IS NOT TO BLAME!
Where are the clueless pride singers. Buhari has finished this country. Jonathan God bless you.
Where are the clueless pride singers. Buhari has finished this country. Jonathan God bless you.
Men lie women lie numbers dont lie !
And me too..AMEN
APC thought they av destroyed PDP not knowing they re destroying dia party lets see how they will campaign comming nxt election
Now they have accepted the truth
Eva Da Diva...
HahahahahahA
Hahahahah
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