Nigeria: Managing the Recession

25 October 2016

By the time the Nigerian Bureau of Statistics (NBS) announced that Q2 2016 was our second quarter of negative growth, most businesses already knew that we were in a recession. Businesses were seeing input costs rise, and consumer demand weaken. It goes without saying that businesses in Nigeria are facing some of the toughest times they've faced in a decade.

With the Minister of Finance hoping to return to positive growth by Q4 2016, and Dangote predicting Q1 2017, it is clear that the tough times may last a little longer. I've spent the better part of ten years working to with companies in all manner of situations, and I figured I'd share some strategies for businesses to consider as they work to manage through these trying times.

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