ABUJA, Aug 27 (Reuters) - Nigeria might fall into recession,
the head of the country's budget office said on Thursday.
"Because of the twin effect of COVID-19 pandemic and the
drop in oil price, subsequently that it is expected that Q3 will
be negative and the country might fall into recession," Director
General of Budget Office, Ben Akabueze, told reporters.
It would be the second quarter of negative growth after
Africa's largest economy contracted by 6% in the second quarter
of the year. Nigeria's last recession was in 2016.