Economic Recession in Nigeria: A case for Government Intervention

International Journal of Economics and Management Studies

© 2017 by SSRG - IJEMS Journal

Volume 4 Issue 6

Year of Publication : 2017

Authors : Benjamin Sunday Shido-Ikwu

10.14445/23939125/IJEMS-V4I6P109

How to Cite?

Benjamin Sunday Shido-Ikwu, "Economic Recession in Nigeria: A case for Government Intervention," SSRG International Journal of Economics and Management Studies, vol. 4,  no. 6, pp. 48-51, 2017. Crossref, https://doi.org/10.14445/23939125/IJEMS-V4I6P109

Abstract:

The Nigerian economy slid into recession path in the first quarter of 2016. The negative consequences of the recession has led to the reduction of standard of living and the quality of life of the people and increase in poverty rate. This paper seek to examine and analysed the main reasons for the emergence of the current economic recession in Nigeria. The paper gives a theoretical exposition of how government policies can potentially curb the recession and enhance better economic well-being of the Nigerian populace. The findings of the study indicates that the main causes for the emergence of the economic recession in Nigeria can be group under three main factors: legacy factors, policy factors and political/security factors. The paper recommends among other, effective government intervention through an effective synchronization between measures of fiscal and monetary policy in the direction of increasing liquidity in the economy, decreasing interest rates, increasing investment and employment, increasing the income of economic entities and finally, in the direction of increasing aggregate demand as an exit from the phase of recession.

Keywords:

Economic recession, Nigeria economy, government Intervention, investment. Unemployment, economic growth.

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