Abstract:
This paper deals with the problems of economic recession and how usury (riba) has been a contributing factor to the problems of recession worldwide. The objectives of the work, among others, are to reaffirm that recession is both natural and self-caused as well as to discuss how recession is mitigated. With specific reference to an applicable portion of Sūrat Yusuf, the paper combines both descriptive and historical methods using a hermeneutic approach to extract relevant lessons for fiscal policy making in Nigeria. It recommends a shift of focus to the agricultural sector to enhance food sufficiency, as well as the adoption of interest-free options in our economic lives, among other recommendations.