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| The Nigerian Naira |
The National Bureau of Statistics (NBS) on Tuesday says Nigeria’s economy has grown out of recession in the
second quarter of 2017, expanding 0.55 percent year-on-year.
second quarter of 2017, expanding 0.55 percent year-on-year.
Nigeria – Africa’s
largest economy reduced by 1.5 percent in 2016 for its first recession in 25 years.
largest economy reduced by 1.5 percent in 2016 for its first recession in 25 years.
The economy also shrank in the first quarter of this
year, as a result of lower oil revenues and a shortage of hard currency.
year, as a result of lower oil revenues and a shortage of hard currency.
Nigeria’s economy had contracted 2.06 percent in the same quarter of 2016.
More details to come…
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