The Federal Government has guaranteed that Nigeria would leave recession in the main quarter of 2021.
Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, gave the affirmation at the continuous 26th Nigerian Economic Summit coordinated 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 downturn in Nigeria.
Ahmed said the current downturn followed the example over the existence where numerous nations had entered a financial downturn because of 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,” Ahmed said.
Nigeria had on Saturday slide into its second recession in five years.
Figures by the National Bureau of Statistics (NBS) said Nigeria's economy had shrunk by - 2.48%.
NBS had revealed that the current downturn was Nigeria's most noticeably awful in many years.
