Nigeria slides into recession as Q2 GDP contracts by 2.06%

Two key figures released by government officials show that the Nigerian economy is officially in recession. Gross Domestic Product (GDP) contracted by 2.06 percent in the second quarter of 2016 while annual inflation rose to 17.1 percent in July from 16.5 percent in June, the Nigerian Bureau of Statistics (NBS) said on Wednesday. The data…
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