Perhaps there’s been some uncertainty about whether Nigeria’s economy is fully in a recession or just “technically” in recession, thanks to recent comments on the issue by CBN Governor, Godwin Emefiele and Minister of Finance, Kemi Adeosun.
Local interest in the term peaked in the past three months, with questions about the recession in Nigeria trending on Google in July.
For those who may still be still in the dark about the state of the economy, it may be a good idea to pluck a leaf from the tree of knowledge growing in Anambra State. Anambra currently tops the list of states in Nigeria searching for “recession” and other related terms.
Perhaps the curiosity of the gentlemen traders at Iweka road, Onitsha, who just needed to know why all this fuss about a recession, sent the state to the head of the Search list, trumping cosmopolitan Abuja and Lagos, as seen below.
- Anambra State.
- Federal Capital Territory.
- Rivers State.
- Lagos State.
So why are residents of other States not searching for terms related to the recession? Unfortunately, Google has no answers to that question, but globally, Nigeria is one of the top three countries with the most searches for the term. In other words, we are not alone on this one -even good old stable Canada is worried.
- United Arab Emirates
- South Africa
Below is a list of questions people are asking in Nigeria about the recession. You may want to Google numbers 6 and 9 while you are at it.
- Economic recession in Nigeria?
- what is recession / recession definition
- what is economic recession
- difference between recession and depression
- recession proof businesses
- how to survive in economic recession
- how to add value during a recession
- when is an economy in recession
- how to make money in a recession
- causes of recession
Nigeria’s recession was triggered by a dip in government revenues and spending in the wake of the fall in global crude oil prices. It’s likely to be a bumpy ride ahead for the country, so it’s important to live by the first rule for surviving a recession- Start saving money now.