Nigeria Expects to Exit Recession in Fourth Quarter: Minister

The video discusses Nigeria's economic outlook, highlighting a recession with a negative growth rate but showing improvement from previous quarters. Measures taken to stabilize the economy amid COVID-19 include supporting vulnerable groups and controlling the pandemic. Challenges with the naira's exchange rate due to declining oil revenues are addressed, and strategies to reduce interest rates and support businesses are outlined.

What was the reported growth rate for Nigeria in the third quarter, and how does it compare to the second quarter?

• Minus 3.62, a decline from minus 6.1

• Minus 6.1, an improvement from minus 3.62

• Minus 6.1, a decline from minus 3.62

• Minus 3.62, an improvement from minus 6.1

What is the main reason for the gap between the official and parallel exchange rates of the naira?

• High inflation rates

• Government policy changes

• Decline in oil and gas revenues

• Increase in foreign investments

How has the Central Bank of Nigeria addressed the supply needs for foreign exchange?

• By increasing oil production

• By implementing a queuing process

• By reducing interest rates

• By imposing new taxes

What strategy has been employed to stabilize businesses within the Nigerian economy?

• Increasing taxes on imports

• Reducing interest rates for government intervention funds

• Raising interest rates for loans

• Decreasing government spending

What is the purpose of providing low-cost financing to businesses in Nigeria?

• To reduce inflation

• To help businesses reinvest and preserve jobs

• To encourage foreign investment

• To increase government revenue