BREAKING: Nigeria’s economy contracts by 6% in Q2 — NBS

By Philip Clement

Nigeria’s gross domestic product (GDP) has contracted by six per cent in the second quarter of 2020, a new report by the National Bureau of Statistics (NBS) has shown.

According to the report which was released on Monday, Oil GDP contracted by -6.63 per cent from 5.06 per cent in the first quarter and 5.15 per cent in the second of 2019, Daily Times gathered.

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Non-oil GDP was also reported to have contracted by -6.05 per cent from 1.55 per cent in the first quarter of 2020 and 1.64 per cent in the second quarter of 2019.