Overall, conditions in Nigeria remain challenging with little sign that the economy will exit recession over the coming months, that is according to London-based World Economics.

The new report released states that Africa’s largest economy sees its business confidence fall to lowest levels on record, in the fourth quarter of October to December.

Nigeria’s December Sales-Managers’ Index – measuring growth across the country, reveals a continuation of the recession gripping the economy since the new year started.

World Economics says business confidence reduces steadily for four years, and is now at the lowest level recorded in the survey’s history.

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