Go on Twitter and everyone is so sure we are either in or heading towards a recession.
Everyone living in the United States (US) at least, whether by physical address or Twitter timeline. Former Goldman Sachs CEO Lloyd Blankfein said at the weekend that the US economy risks entering a recession this year. Economists surveyed by the Wall Street Journal in April estimated a 28% probability of a recession in the next twelve months, more than double the probability in April 2021. Even Twitter’s would-be acquirer Elon Musk tweeted last December that he anticipates a recession in Summer 2022.
When the US economy sneezes, we all catch a cold, reason alone for us to be worried about the Nigerian economy without even thinking about our internal problems from rising unemployment & insecurity to poor public finances & stalling governance.
Is Nigeria also heading towards a recession? Are we already in one? Is the US?