Abuja - Minister of Finance, Kemi Adeosun, has stated that Nigeria is in a tough place because of recession during a Senate briefing in Abuja, Vanguardreported.
Adeosun was briefing the Senate on the state of the economy in the country and how the 2016 budget was implemented.
According to the minister, the President Muhammadu Buhari led government inherited negative reserves of heavy salaries and a wage bill of N165 billion.
She added that if you two periods of negative growth you are technically in recession.
The International Monetary Fund reiterated that Nigeria is heading into a recession due to weakened investor confidence over plunging oil revenues.
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