Lost Year in Nigeria Under Buhari Leaves Economy on Knees

Muhammadu Buhari took office as Nigeria’s president a year ago on a wave of optimism that the ex-military ruler could revive a nation battered by falling oil prices and decades of corruption. Now, Africa’s biggest economy is on its knees and Buhari has been forced to throw in the towel on a central pillar of his …

Nigeria Faces Recession Risk as GDP Shrinks in First Quarter

Nigeria’s economy risks falling into recession after it shrank in the first quarter as oil output slumped and the manufacturing, financial and real estate industries declined. Gross domestic product in Africa’s largest economy contracted by 0.36 percent from a year earlier, the Abuja-based National Bureau of Statistics said in an e-mailed statement on Friday. This …