NBS data for Q3 2020 shows a dip of 3.62% in real GDP, confirming the Nigerian economy has officially fallen into a second recession in 5 years.
The contraction in the oil sector indicates 7.26% points lower than the growth recorded in the previous quarter (Q2 2020, -6.63%)
The Nigerian economy officially plunges into recession as the country's GDP in real terms declined by -3.62% YoY in Q3 2020, the second contraction in 2020.
Should the current economic downturn linger and deepen, Nigerian banks may fail the requisite stress tests.
To truly diversify from oil and create proper value, agriculture must give birth to an industry.
The telecommunications sector remains one of the fastest-growing sectors in Nigeria’s ailing economy.
According to the GDP report, the telecommunication sector grew by 18.1% in real terms during the second quarter of 2020.
Nigeria’s Gross Domestic Product (GDP) declined by 6.10% (year-on-year) in real terms in Q2 2020. This is according to the second quarter (Q2) GDP report, released...
Though Nigeria is not on the OECD list, pension asset value in Nigeria grew by 18.3%.
financial inclusion is the x-factor needed to transition Nigerian farmers from subsistence to a growth phase.