The World Bank has predicted that Nigeria’s current recession might last till 2023 unless the current reforms is sustained and the right mix of policy measures is implemented.
According to a report titled: “Rising to the Challenge: Nigeria’s COVID response” which was released by World Bank Nigeria Development Update (NDU) on Thursday December 10, the international financial agency noted that the “average Nigerian could see a reversal of decades of economic growth and the country could enter its deepest recession since the 1980s”.
Shubham Chaudhuri, World Bank Country Director for Nigeria said;
“Nigeria is at a critical historical juncture, with a choice to make. Nigeria can choose to break decisively from business-as-usual, and rise to its considerable potential by sustaining the bold reforms that have been taken thus far and going even further and with an even greater sense of urgency to promote faster and more inclusive economic growth.”
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