In a worst case scenario, the recession could continue into 2021 when the economy could contract 2%.
Nigeria's coronavirus outbreak may push 5 million people into poverty as it triggers the worst recession in the African powerhouse since the 1980s, the World Bank said on Thursday.
But Nigeria also has the highest number of people living in extreme poverty in the world, and has not recovered from another recession in 2016. "Today's unprecedented crisis will require an equally unprecedented response from the entire Nigerian public sector private sector to contain the outbreak and protect the lives and livelihoods of low-income and vulnerable communities," the Bank said in a report on Nigeria's economic development.
Overall, 42.5% of Nigerians will be poor - defined as living on less than $2 a day - as of 2020, the bank said.
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