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Nigeria, South Africa Stare Down Recessions

Politics and petroleum have brought down Africa’s two biggest economies, South Africa and Nigeria, as both nations look down the barrel of recession. Oil giant Nigeria will release quarterly growth figures Wednesday that most likely will confirm the economy is in recession. And the South African economy, the continent’s most established and mature, has seen slowing growth, with a contraction of 1.2 percent in the first quarter, as the population grows faster than the economy. The...

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