Nigeria’s exit from recession under threat, says CBN – Punch Newspapers

Ifeanyi Onuba, Abuja

The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday warned that weak economic fundamentals currently being shown by the Nigerian economy are putting the country’s exit from recession under threat.

Nigeria’s economy exited recession in 2017 after suffering contraction for five consecutive quarters,

Addressing journalists shortly after the end of the two-day meeting of MPC members held at the headquarters of the apex bank, the CBN Governor, Mr Godwin Emefiele, said the economy has started showing signs of weakness.

For instance, he said the committee was concerned that the exit from recession may be under threat as the economy recorded growth rate of 1.95 per cent and 1.5 per cent during the first and the second quarter of this year respectively.

He noted that the slowdown emanated from the oil sector with strong linkages to employment and…