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	<title>gross domestic product Archives &#187; WITHIN NIGERIA</title>
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		<title>BREAKING: Nigeria officially slides into worst recession since 1987</title>
		<link>https://www.withinnigeria.com/2020/11/21/breaking-nigeria-officially-slides-into-worst-recession-since-1987/</link>
					<comments>https://www.withinnigeria.com/2020/11/21/breaking-nigeria-officially-slides-into-worst-recession-since-1987/#respond</comments>
		
		<dc:creator><![CDATA[Sodiq Lawal Chocomilo]]></dc:creator>
		<pubDate>Sat, 21 Nov 2020 11:19:49 +0000</pubDate>
				<category><![CDATA[BREAKING]]></category>
		<category><![CDATA[National]]></category>
		<category><![CDATA[gross domestic product]]></category>
		<category><![CDATA[National Bureau of Statistics]]></category>
		<category><![CDATA[President Muhammadu Buhari]]></category>
		<category><![CDATA[Recession]]></category>
		<category><![CDATA[World Bank]]></category>
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					<description><![CDATA[<p>Emerging reports have shown that Nigeria has officially slid into its worst economic recession in over threr decades. This was made known by the National Bureau of Statistics via gross domestic product numbers released on Saturday. According to the report, the nation recorded a contraction of 3.62 percent in the third quarter of 2020. This [&#8230;]</p>
<p>The post <a rel="nofollow" href="https://www.withinnigeria.com/2020/11/21/breaking-nigeria-officially-slides-into-worst-recession-since-1987/">BREAKING: Nigeria officially slides into worst recession since 1987</a> appeared first on <a rel="nofollow" href="https://www.withinnigeria.com">WITHIN NIGERIA</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Emerging reports have shown that Nigeria has officially slid into its worst economic recession in over threr decades.</p>
<p>This was made known by the National Bureau of Statistics via gross domestic product numbers released on Saturday.</p>
<p>According to the report, the nation recorded a contraction of 3.62 percent in the third quarter of 2020.</p>
<p>This is the second consecutive quarterly GDP decline since the <a href="https://www.withinnigeria.com/2020/10/09/nigeria-may-slip-into-second-recession-in-four-years-says-buhari/">recession</a> of 2016. The cumulative GDP for the first nine months of 2020, therefore, stood at -2.48 percent.</p>
<p>The last time Nigeria recorded such cummulative GDP was in 1987, when GDP declined by 10.8 percent.</p>
<p>According to World Bank and NBS figures, this is also the second recession under President Muhamadu Buhari’s democratic reign — and his fourth as head of state.</p>
<p>The post <a rel="nofollow" href="https://www.withinnigeria.com/2020/11/21/breaking-nigeria-officially-slides-into-worst-recession-since-1987/">BREAKING: Nigeria officially slides into worst recession since 1987</a> appeared first on <a rel="nofollow" href="https://www.withinnigeria.com">WITHIN NIGERIA</a>.</p>
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