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Nigeria GDP (Q1)

Nigeria’s economic growth slowed to just 2.3% y/y in Q1 as the damaging effects of a botched demonetisation process more than offset an easing of the drag from the oil sector. With the rise in oil output likely to have run its course and fuel subsidy cuts as well as a likely devaluation of the naira set to hurt activity elsewhere, the economy will continue to struggle over the coming quarters.

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