Nigerian Economy Will Contract Without Stimulus – Finance Minister

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, according to Finance Minister,  Zainab Ahmed.

Nigeria could see its economy shrink by as much as 3.4%, the Minister also said.

She also revealed that the country’s debtors were considering suspending debt repayment to help as the country battles against the coronavirus epidemic.

Ahmed also said Nigeria would to China to seek interest waiver on outstanding loans and was not considering debt deferral from Eurobond holders.