The Global Financial Meltdown and Its Effects on Manufacturing Sector: the Nigerian Perspective

Abstract

The world economy is facing the most severe financial crisis since the great depression of the last century. The risk of global recession has heightened significantly and volatility of commodity prices, which is the mainstay of most developing countries like Nigeria. This study examined the influence of the global financial meltdown on the Nigerian economy. It was discovered that the financial crisis will cause fall in commodity prices, decline in export, lower portfolio etc. Also, recommendation that will minimize these effects and jump start the economy was included.

Keywords: Financial crisis, Recession, Volatility and Export.