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Nigeria Heads Toward Recession

Nigeria’s central bank governors are meeting amid a gloomy financial outlook for Africa’s largest economy. Numbers released last week show the country's economy contracting. Economists blame a shortage of fuel, persistent power outages and a fall in the production of Nigeria’s top moneymaker, oil. Nigeria is heading for a recession. That’s what analysts say after the National Bureau of Statistics announced the economy contracted by about four-tenths of a percent in the...

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