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NIGERIA'S GDP CONTRACTS 2.06% IN 2ND QUARTER

Nigeria's GDP has contracted 2.06% in the 2nd quarter of the year according to news released by the national bureau of statistics.

It was quite expected since the weakening of the naira and foreign exchange shortages due to global fall in oil prices have taken its toll on the economy.

Government is however optimistic that the negative growth would disappear in the third and final quarters with the injection of billions of naira into different sectors of the economy.

Analysts predict a micro percentage growth in the third quarter and a single digit growth in the final quarter of the year.

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