Nigeria heads for recession as coronavirus takes toll
International flights to resume from September 5
27 August 2020 - 20:17
Abuja — Nigeria might fall into recession in the third quarter, the head of the country's budget office said on Thursday, citing the affect of low oil prices and the coronavirus pandemic.
The continent's top oil producer faces its worst economic crisis in four decades in the wake of an oil price war between Russia and Saudi Arabia at the start of the year, and the pandemic, which hurt demand for its main export commodity which provides 90% of foreign exchange earnings...
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