Emerging Challenges Of Economic Recession In Nigeria: Is There A Way Out?
Gbatsoron Anjande & Simeon, T. Asom
Department of Economics
Benue State University, Makurdi
ABSTRACT
Economic recession is accompanied by a drop in the stock market, an increase in the rate of unemployment, stagnant wages, decline in gross domestic product (GDP) and high inflation. Nigeria like many developing countries is struggling with economic recession. The paper looks at the challenges of economic recession in Nigeria which has affected many aspects of the economy and examined the lessons the country has learnt so far. It suggests that Nigeria should carefully assess the country’s exposure to economic instability in other countries so as to apply appropriate measures; policy options available to the country to resolve the predicament include fiscal and monetary policies
