Nigeria Economic Alert- Q3’20 GDP Report: Deepest recession in decades offers opportunity for extraordinary reforms

Click here to unsubscribe. pwc.com/ng   Nigeria Economic Alert Q3'20 GDP Report: Deepest recession in decades offers opportunity for extraordinary reforms Dear Subscriber Our latest Nigeria Economic Alert provides an analysis of the Q3'2020 GDP from the National Bureau of Statistics. Along with most countries of the world, the Nigerian economy is technically in a recession, as real GDP contracted for the second time by 3.6% in Q3 2020. This implies that, on a year-on-year basis, real GDP declined by N1 trillion and N670 billion in Q2 and Q3 2020 respectively. The share of Nigeria's real GDP loss in the period is larger than the economies of Sierra Leone, Liberia, Gambia, Lesotho, among others. With this contraction, Nigeria is experiencing a second economic recession in less than a decade, due to the impact of the COVID-19 pandemic on the global economy. Our Economists hold that the way forward lies in the implementation of fiscal reforms, some of which have been captured in the Nigeria Economic Sustainability Plan (NESP) as well as some provisions captured in the Finance Bill 2020. Click the download button below to read the full publication. Download here Contact Us Andrew S. Nevin (PhD) Partner & Chief Economist andrew.x.nevin@pwc.com Omomia Omosomi Manager omomia.omosomi@pwc.com   Follow us         You're receiving this email because you are listed as a client of PwC or have opted to subscribe to one or more of our email distributions. If you'd prefer not to receive updates, you have the right to withdraw your consent at any time. © 2001 - 2020 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. Legal Disclaimer | Site Provider | Privacy Statement

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