Last updated on September 11th, 2021 at 08:14 am
Nigeria is officially in recession due to the impact of the coronavirus and the low price of crude oil which is the countries number one product exported to other African countries and the World.
The GDP of Nigeria, an oil-creating nation, shrunk by 3.62% in the second from last quarter of 2020, subsequent to having just declined by 6% in the past quarter, the Bureau of Statistics said Saturday.
“Over the initial nine months of 2020, the combined GDP is subsequently somewhere around 2.48%,” the authority added.
Financial analysts ascribed the improvement to the fall in oil costs just as the negative effect on the economy of the new Covid pestilence.
The government authorities has ask some countries to loan them some money so as to combat this recession, This is the second recession in the space of three years, which is a worrying sign for the financial sector of the country.
South Africa captain Laura Wolvaardt wants cricket authorities to arrange more Test matches for women because Test cricket represents the…
The United States issued Ambassador Ebrahim Rasool a one-way travel ticket from South Africa to show decreasing trust between the…
Vida e Caffè achieved a major milestone when they opened their 300th South African outlet in Secunda Mpumalanga making it…
The Trade Promotion Organization of Iran revealed its plan to launch a special shipping line to West Africa through its…
Expansion in the global rare earth industry makes Africa stand out by predicting this region will reach 10% market supply…
Exxaro Resources Limited chose Ben Magara to lead the company as CEO starting April 1, 2025. The firm conducted an…
This website uses cookies.