Abuja - Minister of Finance, Kemi Adeosun, has stated that
Nigeria is in a tough place because of recession during a Senate briefing in
Abuja, Vanguard reported.
Adeosun was briefing the Senate on the state of the economy
in the country and how the 2016 budget was implemented.
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According to the minister, the President Muhammadu Buhari
led government inherited negative reserves of heavy salaries and a wage bill of
She added that if you two periods of negative growth you are
technically in recession.
The International Monetary Fund reiterated that Nigeria is
heading into a recession due to weakened investor confidence over plunging oil
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