Obasanjo asks FG to return to the basics

The global economy is facing its worst peacetime crisis in almost 100 years, according to the Organisation for Economic Co-operation and Development. In its latest forecast, the OECD warns the effects of the slump will be "dire and long-lasting" after a 6 percent plunge in global growth this year.

The World Bank says the collapse in oil prices coupled with the COVID-19 pandemic is expected to plunge the Nigerian economy into a severe economic recession, the worst since the 1980s. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa for more.

California has shut down businesses, including bars and gyms, after a spike in new cases of Covid-19. The new measures will hamper a recovery for the state's economy, which is the largest in the United States. It comes as lawmakers in Washington discuss a new stimulus plan and the federal budget deficit hit a record high in June. The gap between the government's income and expenditure for this fiscal year is likely to exceed $3 trillion.

The UK economy has shrunk by 20.4% between April and June, when the coronavirus lockdown was at its most severe. Experts say the downturn brought on by the pandemic led to the biggest fall in quarterly GDP on record.

Here are a few reasons to pick up a copy of The Guardian on Saturday. Find these stories and much more when you grab a copy of The Guardian on Saturday⁣.

The Australian economy has entered recession for the first time in almost thirty years, because of lockdown measures linked to the coronavirus pandemic. Household spending and hours worked fell between April and June, but government support for businesses and workers helped to prevent a drop in incomes. The 7 percent slump in GDP over the second quarter is the worst on record for the country. The Australian Finance Minister Josh Frydenberg described the impact of the virus on the economy as "devastating".

Africa's largest economy Nigeria is expected to fall into a recession by the third quarter according to the budget office. More recent statistics from the National Bureau of Statistics also show a 78.6 per cent slump in total capital imported in the second quarter. Reopening Nigeria's economy is vital for any recovery effort. Tilewa Adebajo, CEO of CFG Advisory joins CNBC Africa’s Christy Cole to discuss the ideal path to recovery.

Here are a few reasons to pick up a copy of The Guardian on Monday⁣. Find these stories and much more when you grab a copy of The Guardian on Monday⁣⁣⁣.

Why Nigeria slipped into another recession - Professor Ken Ife

Here are a few reasons to pick up a copy of The Guardian on Friday. Find these stories and much more when you grab a copy of The Guardian on Friday.⁣

Fmr President, Olusegun Obasanjo has advised the youth to make good use of the social media in other to develop the country and not create confusion

Here are a few reasons to pick up a copy of The Guardian on Friday. Find these stories and much more when you grab a copy of The Guardian on Friday.⁣