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IMF predicts Nigeria's economy will contract by 1.8 pct in 2016

Nigeria's economy, the biggest in Africa, is likely to contract by 1.8 percent this year, the International Monetary Fund (IMF) said on Tuesday, as the country grapples with the impact of low oil prices. The sharp fall in global prices since 2014 has led to a prolonged economic crisis since the crude sales make up around 70 percent of government revenue. "In Nigeria, economic activity is now ...
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Added July 19, 2016
from Yahoo Nigerian News