MANAGING ECONOMIC RECESSION IN NIGERIA: AN ISLAMIC PERSPECTIVE

Economic Recession is a difficult time for the economy of a country, when there is less trade and industrial activity than usual and more people are unemployed. The aim of this paper is to dwell and suggest Islamic method of managing economic recession, engagement in trade activities and lawful transactions that can boost the economy and bring sustainable development to any country has emphasised in Islam. Mismanagement of the available resources, embezzlement and nonproper implementation of the government policies are some of the problems that lead to economic recession in Nigeria. The methodology of writing this research is the use of the related literatures in library, published articles in journals and interview, it is found that lack of honesty and commitment to duty, looting from the public treasury and greediness are some of the reasons that throw the country in to recession. It is recommended that there should be economic diversification and public treasury should not be turned into personal property for opportunists in conclusion people with good character should be appointed to manage the nation‟s resources, government should try to implement only the good advices given to them by the financial experts in terms of policies that have direct impact on the majority of the citizens