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Buharinomics Fails as Nigeria's GDP Crashes to 25-Year Low
Posted by George on Fri 20th May, 2016 - tori.ngMore pressure has been heaped on President Muhammadu Buhari following the monumental failure of his economic policies in almost a year of his administration.
President Muhammadu Buhari
Nigeria’s gross domestic product (GDP), which worth of economic activities, crashed to its lowest since 1991 in the first quarter of 2016.
According to the GDP report released by the Nigerian Bureau of Statistics on Friday, the country’s economy crashed to a 25-year low of -0.36 percent.
NBS says Q1 GDP declined to -0.36 percent from 2.11 percent in Q4 2015 and 3.96 percent in Q1 2015.
The last time the Nigeria economy grew below 1 percent was in 1999, a few months after the return of democracy in 1999.
According to World Bank figures, the economy had a regression of -0.3 percent in 1995, and -0.6 percent in 1991
According to the GDP report released by the Nigerian Bureau of Statistics on Friday, the country’s economy crashed to a 25-year low of -0.36 percent.
NBS says Q1 GDP declined to -0.36 percent from 2.11 percent in Q4 2015 and 3.96 percent in Q1 2015.
The last time the Nigeria economy grew below 1 percent was in 1999, a few months after the return of democracy in 1999.
According to World Bank figures, the economy had a regression of -0.3 percent in 1995, and -0.6 percent in 1991
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