Nigeria, Africa’s most populous country, may fall into recession this year if an economic stimulus plan isn’t put in place to check the effects of the coronavirus pandemic, Finance Minister Zainab Ahmed said.
The country of more than 200 million people could see its economy shrink by as much as 3.4 percent, Ahmed said Tuesday on Arise TV.
Nigeria needs radical action to avoid an economic contraction, said Ahmed, who added that the country’s multilateral creditors were considering suspending debt repayments to help.
Ahmed also said Nigeria would to China to seek interest waiver on outstanding loans and was not considering debt deferral from Eurobond holders.
SEGUN ADAMS
