Welcome to 9jaflaver

HOME | MUSICS | MIXTAPES | FREEBEAT | VIDEOS | NEWS | BBNAIJA | TECHS | JOKES | COMEDY VIDEOS | GOSPEL

Celebrity News | Education | Fashion | Football Updates | Lifestyle | Funny Photos

Call Only:- +2348143945195 or +2348114624972

You Can Email Us:- [email protected]



« | »

Nigeria Heading Into Recession – Says IMF

Nigeria Heading Into Recession – Says IMF

The International Monetary Fund slashed its growth forecast for the Nigerian economy this year on Tuesday, saying a combination of plunging oil revenues and weakened investor confidence will push it into recession.

The IMF said it expects Africa’s largest economy to contract by 1.8 percent this year, after having forecast in April a 2.3 percent expansion.

Nigeria’s stall, and sluggish activity in the number two economy, South Africa, is expected to pull down economic growth across sub-Saharan Africa, the IMF said, forecasting a “dramatic implication.”

“In 2016, regional output growth will fall short of population growth, implying declining per capita incomes,” it said.

Nigeria’s economy has been battered hard by the plunge in oil prices, the main source of the country’s income, as well as prices of other key commodities.

In addition, rebels in the southern oil region have forced crude production cutbacks, and internal unrest, especially attacks by the Boko Haram group in the north, has also hurt the economy.

Inflation hit an 11-year high of 16.5 percent in June as prices of food and energy jumped after the government freed up the naira currency in April, allowing it to plummet against the US dollar.

Also weighing on output have been electricity shortages due to rebels’ sabotage of the gas pipelines that fire power plants.

AFP

Source:- Punchng

 

Click Here To Comment On This Post

 

[Music] DJ Ecool Ft Davido – Ada

[Music] Olamide – Science Student

[Music] Gospel Spindle – Chukwu Bi N’Igwe

[Music] Yung L Ft Sarkodie And Jaij Hollands – Pressure

[Music] Soft Ft Davido – Tattoo

[Music] Coolboi – Go Down

[Music] Olamide – Enimimomi

[Music] Sure Boi – Why

[Music] Mr Eazi – Pour Me Water

author image
About 9jaflaver owner (Mr Ejump)

Mr Ejump Is the owner/CEO of 9jaflaver, he's an economist, a loving, and friendly young man. CONNECT via:- FACEBOOK TWITTER

Posted by on July 20, 2016.

Categories: 9ja news

There is love in sharing

« | »


Hottest Songs This Week

FOR MORE MUSICS CLICK HERE

Hottest Videos This Week

FOR MORE VIDEOS CLICK HERE

9jaflaver Music Of The Week

Phyno – Isi Ego

9jaflaver music of the week

DOWNLOAD HERE

Valentine Special:-

Johnny Drille – Awa Love

Also check out

DOWNLOAD HERE

Copyright © 2018 9jaflaver
Powered By: 9jaflaver