Nigeria, March 28 -- The Nigerian economy is heading towards a major depression, not a recession, two economists and financial analysts have said.

The two experts, Tope Fasua and Paul Aladje, spoke on Saturday in Abuja in separate interviews with PREMIUM TIMES.

Mr Fasua is the Chief Executive Officer, Global Analytics Consulting Limited, Abuja, while Mr Alaje is the Lead Economist/Enterprise Partner, SM Professionals.

The duo spoke amid reports the Minister of Finance, Budget and National Planning, Zainab Ahmed, on Friday expressed fears the country may be heading towards another recession if the current global crisis is prolonged.

The global economy has been devastated, with the International Monetary Fund (IMF) saying global economi...