Nigeria: Recession Bogey in Nigeria and South Africa

opinion

As Nigeria is still smarting from its recession mode after more than 10 months, the current story that South Africa has slipped into recession should be very disturbing about Africa and poor leadership. The two countries (Nigeria and South Africa) are generally regarded as the topmost economies in the continent.

South Africa, easily the strongest with solid infrastructure for growth, has been rocked by a recent disclosure that it has slipped into a recession after its gross domestic product (GDP) declined 0.7 per cent during the first quarter of 2017 after contracting by 0.3 per cent in the fourth quarter of 2016.

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