Q2’17 GDP: Nigeria’s Economy Expands to End Slump

Nigeria’s economy grew 0.55% in the second quarter of this year as agricultural and oil output increased. This followed a revised 0.9% contraction in the first quarter. According to a Bloomberg survey of economists, the Q2’17 results missed the median growth estimate of 1.3 percent.

Given the relatively average performance, it is looking increasingly unlikely that President Buhari will achieve his goal to increase the economic growth rate to 7% by 2020.