COVID-19: Nigeria is heading for a recession – Fashola

The Minister of Works and Housing, Babatunde Fashola, has lamented that Nigeria is heading towards recession, following the coronavirus pandemic.

Fashola said that the COVID-19 outbreak has affected construction activities and government revenue.

According to Fashola: “As I speak to you now, we have lost essentially the prime of our working period which is the dry season in the COVID-19 period.

“We have also lost some of our expected revenue plans. At the time COVID-19 hit Nigeria, we were doing 2.59 percent growth rate.

“Now we are heading for a recession globally and Nigeria will not be insulated from that.

“We are working on plans to bring the economy back on track.”

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