It has been revealed that that Nigeria has sunken more into economic recession.
New reports have shown that Nigerians may soon have to grapple with even more hard times as the recession worsens.
This revelation was made in the latest reports from the National Bureau of Statistics.
The reports show that Nigeria’s Gross Domestic Product, GDP, has shrunk by 2.24 percent in the third quarter of 2016.
According to the reports, the depreciation has worsened the country’s chances of getting out of recession in 2016.
The reports said the country’s GDP fell deeper than recorded in the first and second quarter of 2016.
It disclosed that Nigeria’s economy shrunk by 0.36 percent in the first quarter, and 2.06 percent in the second quarter of 2016.