Dino Melaye, former Kogi lawmaker has said that Nigeria’s economy is about to experience the worst recession in history.
Melaye suggested this on his Twitter page while displaying a graph showing a deficit higher than revenues in Nigeria’s 2020 budget.
The lawmaker urged Nigerians to be prepared even as he called on the President Buhari-led government to put up economic measures to cushion the effect.
His tweet read:
“Worst Recession in history to hit Nigeria.
“Get prepared Nigerians and Government must quickly put up economic measures to palliate negative concomitant effects. Deficit higher than Revenue. In God we trust.”
We recall that the International Monetary Fund, IMF on Tuesday projected that Nigeria’s economy will face the worst recession in 30 years.
The IMF noted that Nigeria’s economy will recede by 3% in 2020 due to the Coronavirus pandemic.
It stressed that this would be the worst recession in 30 years for the West African giant.