$4.6bn boost for Nigeria’s sluggish economy

29 September 2016

Nigeria is to get an additional $4.6bn of financial support from theAfrican Development Bank (AfDB) to help it through its recession, the bank’s president has said.

The extra money will bring the bank’s total support to the country to $10bn by 2019.

The country officially slipped into recession in the second quarter of 2016, and oil production has nearly halved from 2.2m to 1.2m barrels a day in the space of a year. 

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