the dollar is 210 at the parallel market. However, if the market shows slowing of the economy that does not mean that it must transfer the global GDP growth in the negative zone. Virtually all of the worlds governments are now developing and take crisis measures, including collaboration with other countries to mitigate the possible effects of the economic downturn. Achieving a strong economic growth at all times, month by month and year by year is not rocket science, we only need leaders who are ready to make sacrifices and support fiscal discipline. Now that the Nigerian economy is in recession due to economic mismanagement, corruption and insincerity on the part of our leaders, ordinary Nigerians have to bear the brunt of our leaders failure to manage our common wealth with attendant high inflation rate, rising public debt. Org not later than 12am 29th November 2016. Nigerians can only hope for the best as they make a choice in the upcoming general elections. What is the cause of turmoil at this time? Normally, recession comes first, setting off credit troubles in its wake. And finally On November 28, 2008, the Business Cycle Dating Committee of the National Bureau of Economic Research (nber) announced that the United States has indeed been in a recession since December 2007 (Evans).
Regardless of this, we have to weigh our options. The reasons for these are quite obvious. We have a lot of them. The longest completed recessions of the post-war period were during years: 16-month period. They started only in April-May or September-October that is usually explained by the agricultural reasons. Recession was lasting 24 months.