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Nigeria’s economic growth slows in Q1 as oil sector shrinks

Growth in Nigeria’s fragile economy slowed to 2.01% in the first quarter as the country’s dominant oil sector shrank, the National Bureau of Statistics (NBS) said on Monday. The annual pace dropped from the previous quarter’s 2.38%, when activity was likely to have been boosted by state spending in the run-up

All change!!!  Nigeria is not an oil economy

By Kemi Adeosun Descriptions of Nigeria’s economy often include such phrases as ‘Africa’s largest oil producer’ and ‘the oil-rich African nation’ but oil economies are typically characterised by low population densities and abundant oil resources. Saudi Arabia with 10 million barrels of oil per day and 30 million people, Kuwait with 2.7

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