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IMF Predicts Recession in Nigeria

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IMF Predicts Recession in Nigeria

The International Monetary Fund (IMF) has projected a decrease in the global economy by 3.4 percent this year as a result of the Coronavirus pandemic . Nigeria could be heading for its worst recession in three decades.

The economic downturn is one of the effects of the Coronavirus pandemic predicted by experts around the world.

The projection was made in its April 2020 World Economic Outlook report which was released yesterday in Washington, United States.

Gita Gopinath, who is the IMF Chief Economist and Director of Research Department, said: “For the first time since the Great Depression, advanced economies,emerging economies and developing economies are in a recession.”

“For 2020, growth in advanced economies is projected at -6 per cent. Emerging markets and developing economies which typically have normal growth levels well above advanced economies are also projected to have negative growth of -1 per cent and -2.2 per cent if you exclude China.”

The Nigerian economy is projected to bounce back by 2.4 per cent in 2021.

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Teo-Inspiro

Teo-Inspiro International is a media production company that is changing the narrative by empowering young people with digital skills to showcase the beauty of Africa. We provide photography and video coverage for events, produce films and documentaries that tell the African story and organize training programs on camera handling.

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We provided video and photo coverage for all project events assigned in Lagos. A group of 50 children were also trained on content development and storytelling as part of awareness for the project.

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British Council ACT Programme

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Media Engagement Consultancy to support the delivery of the EU-ACT communication and visibility under five (5) objectives. ACT Programme wants to use new and traditional media platforms to create awareness and visibility on the importance of CSOs in achieving the SDGs

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