ICMS, Inc Reports
Reporting: Tom Okure, PhD.
|Map of Nigeria|
According to the Nigerian National Bureau of Statistics, the second quarter of this year (Q2 2017) indicates that the economy grew in Q2 2017 by 0.55% from -0.91% in Q1 2017 and -1.49% in Q2 2016. As a consequence of the continued growth of the economy after five successive quarters of contraction, it is confident to declare that the Nigerian economy has exited recession.
The oil sector and the agricultural sector coupled with foreign exchange stabilization efforts by the central bank of Nigeria are major contributing factors to lifting Nigeria out of the recession.
|Map of South Africa|
Presidency reacts to Nigerian economy being out of recession