Low petroleum prices, foreign currency shortages and attacks by oil militants have contributed to creating the retrograde economy.
Gross domestic product in Africa's most populous country contracted by 2.1 percent in the three months through June from a year earlier, the Abuja-based National Bureau of Statistics said in an e-mailed statement on Wednesday, after shrinking 0.4 percent in the first quarter.
"Besides the growth recorded in the agriculture and solid mineral sectors, the Nigerian economy, in response to the policies of the Buhari Presidency, is also doing better than what the International Monetary Fund had estimated with clear indications that the second half of the year would be even much better", he stated.
Therefore, the results of second quarter of 2016 GDP growth rate has placed Nigeria in recession from a professional point of view.
Political pressure on the president is now likely to increase, following news of the country's first official recession in more than two decades.
"We have long warned of a slow-burning crisis in Nigeria".
Nigeria is the continent's largest producer of oil, producing approximately 2.4 million barrels per day.
"More important than the headline number is the fact that nearly all key sectors of the economy are now struggling", said John Ashbourne, Africa economist at London-based Capital Economics.
Best Buy stock soars after strong earnings
It's not pretty, but Best Buy is finding a way to survive the Amazon. (NYSE: BBY ) paid a total of $0.28 per share in dividends. You can chalk that up to the fact that Best Buy has never lost its ability to confound Wall Street expectations in a good way.
Semenya runs like a man, 800m women lament
That was my main focus - just doing it for my people. "I think it is all about loving one another", she said. And the really good news is that the new Olympic champion is keen on making the 400m a part of her schedule.
However, economists appeared unworried by the stagnation in Norway, pointing to an expected recovery in Brent oil prices which they believed would eventually stimulate Norway's economy. Most notably, the group attacked a Chevron offshore facility in May and the underwater Forcados export pipeline operated by Shell in late March.
"Agriculture grew by 4.53% in the second quarter of 2016 as compared with 3.09% in the first quarter".
Mainland GDP on the other hand expanded by 0.4% (consensus: 0.3%). But that decision has reduced the flow of raw materials to the country's manufacturers.
Reacting to a spike in inflation and growing discontentment, Buhari's government finally devalued the naira in June.
An economic adviser to President Muhammadu Buhari, Adeyemi Dipeolu, says the bleak data is "mostly due to a sharp contraction in the oil sector due to huge losses of crude oil production" resulting from vandalism and "sabotage".
According to critics, government policies as well made a bad situation even worse.
Analysts say the flight showed North Korea has made progress in its push to be able to strike US forces throughout the region. But its development of reliable submarine-launched missiles would add weapons that are harder to detect before liftoff.
More information should be coming on Tuesday, given that this is when the entirety of the cast will be officially revealed. The reason why he revealed such a limited lineup is due to the fact that he was not allowed to divulge the entire lineup.
Protesters have been demonstrating outside the French embassy in London on Thursday against the heavily criticised burkini ban. . The woman had gone to the beach in Cannes , and said she was given a verbal warning when she refused to remove the headscarf.
He never finished higher than 14th at the NCAA cross country championships but won the USA Marathon Championships in 2015. He had finished fifth in the 10,000 metres in Rio after winning a silver medal in the event at the 2012 London Olympics.
Facebook couldn't look even if it wanted to since WhatsApp messages are end-to-end encrypted with the encryption golden standard. You're likely to see more people you recognise or have some form of communication with in the "People You May Know" section.
He said there was a need to identify the trouble mongers and also counselling the "misguided youth" against taking to violence. Around forty other people were injured in violent actions of Indian police and troops against the protesters.
The board had to provide many programmes to the students and had been conducting several exams for the same as well. Hence, the board has conducted the Supplementary Exams to the students in July 2016 at various centers.
While the season continues through November 30, the areas where storms can develop becomes limited, NOAA explained. This will not be a full blown tropical system but you'll notice higher rain chances through the extended period.
Rounding out the pre-show was Sheamus taking on Cesaro in the first of a best-of-seven series of matches. Owens: Actually, I think it was announced this afternoon that Sami's going to be on the kickoff show.
The increase in drilling rigs is resulting in an increase in oil production, which is finding its way into storage. The rise was also triggered by speculation that producers' meeting in Algeria next month will support the prices.
Food and Drug Administration recently rejected applications by two others manufacturers (Teva and Adamis) to introduce products. It's unclear how the EpiPen savings cards will be given to customers or if there's a time limit on how long they can be used.
But Robin Luich, 52, a stay-at-home mother from Medina, Ohio, said those who've broken the law should be permanently barred. Who knows? Just assume that, whatever you've heard to the contrary, he privately agrees with your position on the issue.
The initiative got off to a slow start previous year , initially raising questions about whether the target could be met. Weise told the weekly that his agency is planning for between 250,000 and 300,000 arrivals this year.
When Corden pressed Spears about what the song is really about, Spears claimed to not actually know, that it's just a song. Britney even educated James on the not-kid-friendly topic of S&M;, unfortunately sans Rihanna .
In Dana Point, officials said mosquitoes have been collected in the Quail Run area and around Dana Point City Hall. Adding fish to circulate water in any backyard ponds, and clearing pond edges of debris and vegetation.
And this is exactly why his transfer was so much appreciated by millions of Manchester United fans across the globe. The former United assistant manager will face the club for the first time since leaving in 2013.
As the investigation continues, it appears the NCAA's committee on infractions would hear the Ole Miss case until next year. Those recruited players were granted immunity from potential NCAA punishment if they were truthful in their interviews.
In a statement to Action News, Wawa officials say the shooting did not take place inside their store or in the parking lot. Authorities stressed that the investigation was in its "early phase" and said more serious charges could be filed.
The other victim, 21-year-old Jermaine Starr, was a rear seat passenger in the Camry and was pronounced dead at the scene. The 2002 Eldorado National bus, which was speeding, closed in on the crash scene and clipped the fire truck, police said.
A college student from Brooklyn was stabbed to death early Sunday in upstate Ithaca, according to police and reports. The second victim was treated for non-life-threatening injuries at a regional trauma center.
It's important to note that Facebook originally claimed its Trending Topics section was sorted by an algorithm. Topics will furthermore remain personalized based on a number of user preferences and interactions.
Perse I/GCSE results have improved in each of the last five years and are now consistently some of the very best in the country. The figures show that close to 60 per cent of pupils achieved A* to C passes in five or more GCSEs, including English and maths.
In 2015, South Africa's Supreme Court of Appeal, citing errors of law in the verdict, increased the charge to murder. OSCAR Pistorius' six-year-jail term can not be challenged, South African prosecutors have been told.
Bolt said achieving his " triple triple " - three consecutive Olympic golds in the 100m, 200m and 4x100m - will make him immortal. It was his slowest time in his three Olympic 100m finals, but it was fast enough to beat Justin Gatlin by.08 seconds.
We are definitely looking forward to the release of Britney's Lifetime movie; a wonderful way to honor the pop princess. With all of this attention on the pop-star, Lifetime has chose to push a Britney Spears biopic into the 2017 schedule.
MacDonald will no doubt be pushed near the top of the list to face current Bellator welterweight champion Andrey Koreshkov. Reports say that MacDonald and the UFC were not able to come to an agreement regarding the fighter's contract.