Economy

“Nigeria will exit recession in the first quarter of 2021”- Minister of Finance

"There won't be an increase in Tax"- Minister of finance

According to report reaching oyogist.com, the minister of finance, Mrs Zainab Ahmed has assured that Nigeria would exit recession in the first quarter of 2021.

Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, gave the assurance at the ongoing 26th Nigerian Economic Summit organised by the Nigerian Economic Summit Group and the Federal Ministry of Finance, Budget, and National Planning, on Monday in Abuja.

The Minister noted that the COVID-19 pandemic caused the current recession in Nigeria.

Ahmed said “the current recession followed the pattern across the world where many countries had entered an economic recession due to the pandemic.”

“Nigeria is not alone in this, but I will say that Nigeria has outperformed all of these economies in terms of the record of a negative growth,”

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