decrepit infrastructure

Nigerian Economy In Recession With ‘record’ Low Foreign Investment

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Abuja (AFP) – Nigeria’s economy nosedived into a recession, official data showed Wednesday, with oil production hammered by militant attacks on pipelines and foreign investment at a “record” low. Output in the three months to the end of June was -2.1 percent with the oil sector reporting a double-digit decline following a wave of attacks … Read more

Nigeria Braces For Likely Recession

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Lagos (AFP) – After two bruising quarters marked by attacks on oil pipelines in the Niger delta and ballooning inflation, Nigeria is expected on Wednesday to announce it is officially in recession. The news shouldn’t come as a surprise. Sales of oil at a high price had made Nigeria the biggest economy in Africa. But … Read more