27-April-2024
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Economy News
 
Nigeria, Africa's biggest economy, officially enters recession
31-Aug-2016

Africa's biggest economy is officially in recession. Nigeria's statistics office says gross domestic product declined by 2.06 percent in the second quarter of 2016. The oil- and import-dependent economy declined by 0.36 percent in the first quarter of the year. It has been slammed by low petroleum prices, attacks by oil militants on pipelines and foreign currency shortages.

News Source:- http://economictimes.indiatimes.com/news/international/business/nigeria-africas-biggest-economy-officially-enters-recession/articleshow/53944799.cms