News

November 21, 2016

FG says economy shrinks by 2.2% in Q3

FG says economy shrinks by 2.2% in Q3

Nigeria’s economy contracted in the third quarter as businesses struggled to access foreign exchange and rebels continued to bomb oil pipelines in the restive south, official data showed Monday.

“The nation’s gross domestic product (GDP) contracted by -2.24% year-on-year,” the country’s National Bureau of Statistics said.