The twofold disaster of the fall fuel cost and corona virus may dive Nigeria into another period of downturn.
Talking on the potential outcomes of another downturn in Nigeria since 2016 after the National Economic Council (NEC) meeting on Thursday, Ahmed, said that the attacking corona virus pandemic isn't just influencing the nation financially yet additionally influencing the wellbeing part, as the assets to battle this seem lacking.
She stated: "It isn't news any more that these are troublesome and testing times. We are confronting a huge financial downturn; a period that we have not found throughout the entire existence of our nation.
"On the economy, COVID-19 has brought about the breakdown in oil costs. This will affect adversely, and the effect has just begun appearing on the alliance's incomes and on the remote trade profit.
"Net oil and gas income and inundation to the organization account in the principal quarter of 2020 added up to N940.91billion. This spoke to a shortage of N125. 52billion or 31% of the customized sum that should have been acknowledged before the finish of that first quarter.
She conceded that the accident in unrefined petroleum costs would contrarily influence the nation's income and outside trade profit. Ahmed likewise said that oil and gas income for the nation, in the main quarter of 2020 endured a 31% deficiency, speaking to about N125.52 billion.
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