Buhari Government Drives Nigeria Economy Into Impending Recession, Devalues Naira



Buhari government via the CBN governor Godwin Emefiele warned of Nigeria’s “impending recession”, according to a statement issued on Tuesday announcing plan to devalue naira.

Details of the devaluation plan are expected to be announced in the next few days.

Meanwhile, the Buhari government has kept the official rate Naira to dollar exchange rate at around N199 naira to US dollar, while the parallel market is somewhat around N450 naira.