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Nigeria slips into recession in Q3 after GDP contracts for second consecutive quarter

21 Nov 2020 / 18:51 H.

    LAGOS, Nov 21 (Reuters) - Nigeria slipped into a recession after its gross domestic product contracted for the second consecutive quarter, according to data released by the statistician general on Saturday.

    "Q3 2020 Real GDP contracted for second consecutive quarter by -3.62%," Yemi Kale said on Twitter. Africa's biggest economy was last in recession in 2016 and emerged the following year. (Reporting by Alexis Akwagyiram in Lagos and Chijioke Ohuocha in Abuja; Editing by Andrew Heavens)

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