How nigeria is tackling recession with mmm cnn news

I think there may be some confusion here.

Firstly, MMM (Mavrodi Mondial Moneybox) is a Ponzi scheme that was popular in Nigeria and other parts of the world, but it was not a government-backed program to tackle recession. In fact, MMM was banned in Nigeria in 2016 by the government due to its fraudulent nature.

Secondly, Nigeria did experience a recession in 2016, but it has since recovered. According to the National Bureau of Statistics (NBS), Nigeria's economy grew by 2.01% in 2017, and by 1.93% in 2018.

As for how Nigeria tackled the recession, the government implemented several measures to stimulate economic growth, including:

  1. Fiscal policy: The government increased spending on infrastructure development, social welfare programs, and agriculture to boost economic activity.
  2. Monetary policy: The Central Bank of Nigeria (CBN) reduced interest rates to stimulate borrowing and investment.
  3. Structural reforms: The government implemented reforms to improve the business environment, increase foreign investment, and promote local production.
  4. Diversification: The government encouraged diversification of the economy away from oil, by promoting agriculture, manufacturing, and services.

These measures, combined with the recovery of the global economy, helped Nigeria to exit the recession.

Here are some news articles from CNN that provide more information on Nigeria's economic recovery:

I hope this clears up any confusion. Let me know if you have any further questions!